Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-09-04

capacity to serve twice as many
patrons with greater convenience"
The new roof garden at the Ham
burger building will be more than four
times as large as the present one. II
will be installed about September 10,
The library will keep it's regular holt
day hours, to Q p. m, at both old and
new quarters on Labor and Admission
days.
The plan worked out by s. G. Mar
shutz member of the library board OF
directors, contemplates the provision OF
100000 for a library building and art
institute in Central park without any
additional tax levy.
City Can Pay for It
at can be paid for out of the pres
ent library levy of mills" said Mr..
Marshutz, "by simply diverting to a
building fund what we would save IN
rentals. My proposition Is that new
section be added to the library section
of the charter providing the following:
eff at any time the board of direct
ors of the Los Angeles public nparary
by a majority vote petition the city
council of Los Angeles for an election
on bonds payable one-fortleth ll-4V)
every year, with interest not to
exceed Az per cent, for the purpose OF
erecting and eQuipping q public library
building, said city council shall call
such bond election, either at any reg
ular or any special election, that may
be held during the next eighteen
months following said petition of said
board of directors of the Los Angeles
public libarary, provided said amount
of bonds to be voted upon shall not ex-
coed $500,000, and the amount TO be
voted on and to be required shall be so
stated in said petition of said library
board. Said election may be called for
again and again If first defeated. The
city council shall after said bonds are
voted and sold and used as herein pro-
vided for, have a right to deduct annu-
ally from the charter amount OF said
public library for forty years the an
nual interest and one-fortieth Q-40) of
the sinking fund required so as to pay
for such bonds In forty annual Install
ments without levying any special tax
for this purpose.
"The income Of the library is increas-
ing annually, and is now well able to
undertake the financing of a building
which would be q credit to the city.
1t is well known that the library is
paying and will pay during the next
five years almost $4,000 a year rental,
with constant needs for increased quar-
building would require for the sinking
fund $l2,500, and for interest the first
year at Az per cent $22,500.
I'VE pay an average rental pen year
during the five years of $4,000, leaving
balance of $4,000, which the library
funds admit to pay annually without
interfering with the work of the de-
partment.
"You will notice / allow AZ per cent
interest. while other city bonds bring
only 4 per cent, and made no deductions
of the annual reduction of interest of
about $500, making reduction in inter
est in ten years of $4,000, while in that
corresponding period, IL the city will
not put up it's own library building,
the rental will increase at least $4,000
per year, involving total difference
after ten years of $4,000 per year in
our favor If we put up our own build
ing"
The matter Of amending the city
charter to permit adoption Of Mr.. Mar
shutz' plan has been favorably acted
on by the charter revision commission.
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