The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-12-27
A Reduction Has Been Made
in the Debt, Despite Lack
of Funds at Hand, and Sit
uation Good.
CITY LIGHT PLANT
IN GOOD CONDITION
City's Income Will Be Larg-
er Next Year and Many
Important improvements
Are Provided for.

OF the $500 city debt, not includ-
ing the light plant bonds of $4,000.
$4,000 was paid off in 1910. There
will be $4,000 more of the city's bond
ed indebtedness due during the pres
ent Republican administration, and at
the present rate this will be easily
paid. The sum of $4,000 will be due
at the opening of 1918. The light
plant bonds will not be due until 1927
considering that the taxes were
lowered by the Democrats and our in
come was considerably reduced there
by, | am pleased with the showing OF
the city this year." said City Control
Ter f. G. McMahan, today. He con
tinued. ''Of course, the exact receipts
and expenditures have not been foot
ed up yet, but there will be no large
bills or receipts before the first of the
year"
A temporary loan of $4,000 made
by the Democrats just before the close
of the last administration, raised the
city debt considerably, and $4,000 O.
this debt is due during the remainder
of the Republican administration. The
amount of $1,000 was paid, as the frs
| installment, by Controller McMahar
a few days ago; there is $4,000 falling
due in 1914.
Indebtedness of City.
! Probably more than $4,000 of tn.
city indebtedness will be paid before
! 1913, as practically all the bonds, in
cluding $4,000 on Glen Miller indebt
| edness, are redeemable at any time
according to the controller. 1t ma!
be possible, it is claimed, to pay of
as much as $4,000 per year the mex
three years. Mayor Zimmerman, it il
known. favors paying the debt as sool
as possible for, to use his favorite ex
preston, pay interest and you rol
the people"
In the light plant sinking fund ther
is now s1,320. being two monthly pay
ments of $3.50. as fixed in the ordin
plant bonds. This ordinance is one O
the most important financial measure
passed by city council during the year
Controller Ed McMahan, who drew VI
the ordinance. deserves great credi
for it. according to city officials. B.
it, sum of $500 each month, is pait
from the receipts of the plant towar,
fund to redeem the bonds. due il
1927. 1t was enacted in October
All city departments are now sum
ming up their work for the year an,
making plans for 1911, when import
ant measures are contemplated. Tn
street department, which did littl
work in 1910 on account of the ba,
financial condition of the city treas
ury, will do some big things in 1911
The most important improvement
now being considered are, the pawn
North d and E streets. Many side
walks will be built and bridges in tn
city repaired.
Other City Projects.
Other hang overs" from 1910 vii
be the fash light system for the DC
lice department, suggested by Supe,
intendent Gormon, improvements il
the fire department; on the ligh
plant, where a new unit is needed
and improvements at the crematory
A bill is also before council to rails
the firemen's salaries, and it is e,
pected this will pass.
Another matter coming over fror
1910 will be the war on the street ca
company, for better service, and t
get the freight tracks out of Glen Mi
Ter park. The matter has been befor
the administration all year, but, a
though promising everything in tn
way of improvement. the compan
has done nothing. The mayor ha
threatened to revoke the company
franchise by suit if possible Th
fight will be renewed with increase
vigor the first of the year
/ Several other important considers
tions, such as extension of the cit
limits and proper lighting of Mai
street will be taken up.