Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1909-03-20
CITY BOND FACTS and FIGURES.

ney city bonds IN a sum not to
exceed $40, 900 to establish a sys-
tenn OF water works viii be sub
mitted 10 the qualified electors
OF the city at an election to be
held Monday. April 5th- It is
conceded by all that the city
needs more water and better fire
protection The only question
is, can we get it. and within our
means? There is an abundant
supply of water within three
miles both north and south of
town. L may be found nearer
straight down, and possibly
cheaper. but not so certain Bar
ring the first cost of the wells.
well in town would be cheaper
than well on Big creek by 81,
600. that being the estimated
cost of laying two and one-half
miles OF pipe. according 20 good
authority
\ - stem Of water works
might be established for less
than forty thousand dollars. II
would not be necessary 10 issue
the full amount at once If al all
There might De three issues OF
ten thousand each. or two Of ten
and one OF fifteen. as the money
might be needed. and thus save
interest, each Issue being au-
thorized by city ordinance
Other Kansas towns are selling
their bonds a par. bearing only
i've per cent interest Five per
cent on forty thousand dollars Is
$1,000 The bonds may run
twenty years, which means a
singing fund OF $1,000 per year
Water rights or rents should pay
the rcnning expenses OF the sys-
tenn more especially in a town
where one-haIf the territory Is
as dry aS q bone. and one half
the citizens have 10 buy or bor-
row water. But suppose the
system runs behind $1,000 per
year on expenses. then the fol
lowing sums viii have 10 be rails
ed annually by taxes:
Interest on bonds (S40. .0OO
3. 600
Sinking fund ~ 1000
Expense account - 1000
Total 900
Five thousand dollars is five
times what We paid last year as
city taxes. but not double our
total tax Wa-keeney tax pay
ers in 1905 paid q total tax. in
cluding state. county. township.
district and city taxes. amount
ing to S9.45 per thousand dollars
assessed valuation The city tax
alone was $50 per thousand val
uation- The assessed valuation
OF the city oy last assessment
was S615. SO. To raise an an
nual tax Of 5000 would require
a tax OF SS-12 per thousand as
SeSsed value IN other words a
house and lot assessed al 81 600
last year paid a tax OF So -45- On
the same valuation with the bond
tax added the total tax would be
S1757 The proposed bonds /
would not double our taxes, and
the rate OF taxation, or annual
levy, would be gradually lowered
year by year. IN al probability. +
for these reasons
CLAIMS
After a year or tWc the system I
would become self-supporting.
thus lowering the annual tax
charge, and the sinking fund
would reduce the annual interest
charge
The valuation OF the city Is in
creasing which has the effect OF
lowering the rate per cent of
taxes
4 system OF water works
would induce outsiders TO buy
and improve property here and
help Us pay this tax, which also
would lower the rate per cent
II we had adequate fire protec-
ion capital would be attracted
md some good public and bust
ness buildings would be erected.
III of which would raise the valu- /,
ltion and lower the levy
4 system OF water works
would cause hundreds of dry
OTIS. and dozens OF dry blocks to
iouble and treble IN assessed !
-alue. and consequently produce
-wo or three times the tax now J
derived from them. which would
lelp other tax payers by lower
ng the rate By the way, here
5 a chance to get back at the I
Try lot SPECTATORS hoist him Z
zith his own petard. as II were
l. L -