The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1909-01-05
CITY'S FLOATING
DEBT REDUCED
DURING THE YEAR
DESPITE THE HARD TIMES
WAS CUT BY OVER THREE
THOUSAND.
Al nusI Report or rinanee commitssc
Shows the City to Be in Ek.
celient condition-Tne Re
rOrt in Full.

That the council Of 1908 Ga1e
good" in business way is BEST dsm-
onstrated by the annual report OF tAa
finance committee, read at the closing
session yesterday morning. The re-
port is brief, concise and cIsar
statement OF the citys finances and
makes a splendid advertisement for
Brunswick. Croakers ana pesstfaists
who predicted for the city q .l@a-
year and one which wouId wilu3 ID
with heavy increase in indebtedness
wiz now take 8 back seat
There $ everything In this ras97t
to encourage the Greater Bruaswlck
Association members to red0uole
their efforts to advance the interests
o. the city in every way
Here is the report. whca win be
read by taxpayers With no little IN
tetest:
Report of the Finance Committee.
Brunswick, Ca. Dec. 81, 1909
Honorable Mayor anu Council.
Gentlemen: We are pleased to re-
port at the close OF 1903 that the
floating indebtedness is only $3G,26444
against the sum, at the close of 1907,
OF S53,6S7.36, a reduction Of S3,422.g2.
After deducting from this amount
the increase in the bonded Indebted
ness of $l,S50.00 there remains net
reduction Of the city's indebtedness
for the year of $1,572.92, besides hay
Ing in reserve in the special fund the
sum of S2,5696S for surface drainage
in 1909.
This increase in the bonded indebt-
edness was the difference between
bonds foated, of $4,000, and bonds
maturing January 1, 1909, s62, 80, but
the interest rate on the rafundtng
bends being per cent. lower than
on the maturing issue. this difference
caves US annually on bond interest,
81 5000.
Notwithstanding the diminished
revenues by reason Of state orohibt-
tion, which reduced our revenues from
licenses for 1868 by upward OF 500.
10000, we have been able to bring
about this reduction of the floating
DEBT besides having made a reduc.
tion in the tax rate Tor the year. which
with the discount on, gave our citi-
zens the lowest tax rate since 1898.
We carry over into 1909. Sf9,S3f.s5
of uncolleoted taxes from this years
digest. 1t is We'll known that the cur
rent year was exceptionally dull from
the standpoint of business, aud with
knowledge of that fact We directed
THAI the collection of city revenues by
theofficers be made as lenient upon
our people as the demands of tae
citys finances would consistently
permit
The various departments as whole,
have kept reasonably CLOSE to their
appropriations. The sanitary d.
Dartment exceeded its estimate by
approximately $1,000 ibis depart.
ment, however, includes the ptaripFag
station and. primarily has the health
OF the city under its care; in view Of
tkat fact all the demands OF That de-
partment have been freely met.
The contingent fund Tor the loss
and gain items) also shows upward
OF $1,000 in expenditures over the es-
innate The nature of these expan-
ditures under this heading were rec-
essary or meritorious
AT the close OF the seeord nuartar
it became apparent to your commits
tee that our estimates made in the
of the budget would
broadly speaking, be realized and that
we would have a respectable margin
for public Improvements in the public
works department ard department of
parks and squares Thess
show about $1,000 ii. *
cess Of the appropriations, rnakf1g
the various public Improvements TOR 4
those departments about on p3rfty<
with 1907.
The reports of the various commft-
tees and officers will show in datan
the years revenues and disbursements
with the record Of the work accom-
plished, which we trust will prove Of
interest to your honorable body and
our citizens generally.
Respectfully submitted
w r. rnx rf,airy- ~,