The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1910-06-18
GENTEEMEN:-Acting under

amined the records of tho town 81
Franklin. for Inc purpo, II ascer-
tanning the condition OF the town
financially.
| have examined the books of the
Town Treasurer, which show bal
nee of cash on hand May 3lst, 1910,
81 0s9 OF. since which date no entries
have been made in hi, books. and his
pass book with the Commercial Bank
& Trust Company. balanced May
31st, verifies the balance of 81, OS9. OF
cash on hand
l ind that warrants on the Treas
urer amounting to Sl,296 10 have
and unpaid.
turned over to the Finance Com
mittee of the former administration
bills against the town amounting to
SS73.05, and these bills have been ex-
amined by the committee. and have
been returned to me properly o. KID.
These bills were all for debts of the
former administration. Mr.. r. L.
Patton. manager of the electric light
and waterworks plant, turned over to
me for collection bills for electricity.
water and supplies amounting to
1916. 56. The former administration
should be given credit for the Treas
urer's cash on hand, and for the bills
receivable, the total amount of which
is s.. 035. IS and should be charged with
the warrants on the Treasurer now
outstanding and unpaid, and also
with the bills payable. the total
amount of which is 81, l69. ID. The
difference of sl33.57 represents the
amount which the town owes after
giving the proper credit for the cash
on hand and the bills receivable.
The amount given above for warrants
does not include the warrants which
have been issued for expenses in
Cured after the first of June
The bonded indebtedness OF the
town amounts to S44, 10000. In 1900
twenty Public Improvement Bonds,
OF the par value Of $1,000 90 each,
bearing interest at the rate of five
per cent. per annum from date until
paid, and payable forty years after
date. were sold by the town. ST., 800
% of this money was for the improve
ment Of the streets, and the remain
ing So, 800 20 was for the impro vement
OF the electric light and waterworks
plant. La order to provide for the
retiring OF these bonds when due and
for the payment of the interest,
a special tax of four mills on
he dollar was levied against all
the assessed property in the town,
said tax to run for period
OF forty years, and being pledged for
the protection OF these bonds, and the
payment of the interest thereon.
find that the total amount of the tax
assessed for the years 1901, 1902, 1903,
1904, 1905, 1906, 1907, 1903 and 1909.
amounts to S22, 1854. After paying
the interest on these bonds, the re-
naming money seems to have gone
into the Treasury along with the
other revenues of the town, and to
have been used in paying the various
obligations of the town. Besides
these bonds ten certificates OF indebt-
edness, each for the amount of
81, 10000 and bearing interest at the
rate of five per cent. per annum from
date, the first one to be paid out of
the revenues of the year 1908, and one
to be paid out Of the revenues of each
of the years following. until all
oiOulN Aio'O IOCL lCuCClutU, WCEt Is
sued. VI these certificates, three
have been paid, leaving seven still to
be paid. For the purpose of building
the city market another ten certifi-
Gates of Indebtedness, each for $10OO.-
90, and bearing interest at the rate of
five per cent. per annum from date
until paid, were also issued. Four of
these certificates have been paid,
leaving six still yet due.
Very respectfully,
I. P. WILSON, Sect'y.
FRANKLIN, LA, June 18th, 1910.
Collectors Report for May, 1910.
Bills received from r. L.
Patton 1916 Sc
Bills collected and depos tied
to the credit of Treasurer
Town of Franklin GA 9s
Bills sent in to NJ L 81 Z r
+ & S S Co. 135 10
Unsolicited bills 1876 4S
1916 Sc
An opinion from the City At
torney regarding the Public I'm
provement Bonds was read. and
on motion made a part of the
minutes.
FRANKLIN, La. June 18th, 1910.
Hon. j. A. Peterman, Mayor, Frank
lin, La
DEAR SIR:-Pursuant to your in
Structlons have examined the various
ordinances pertaining to the issuance
u the street bonds by the City Council |
If Franklin in 1900 and find that their
ISSUANCE mas authorized by a special
Election held on Now. 18th, 1900
The bonds were issued pursuant to
laid authority in a series of twontv