The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-27
HOW IAURIUM VILLAGE
INDEBTEDNESS STANDS
Provisions Will be Made for An
nual Report at Regular Feb
ruary Meeting.
COUNCIL HAS BEEN CAREFUL

The regular meeting Of the Laur-
ium village council to be held next
/ Tuesday evening promises to be a very
important session. In addition To max
ing arrangements for the village eau
Gus and the appointment OF the vari-
Gus election inspectors. the council
viii probably reconsider the petition
Of \. II. Konze. proprietor Of the well
known pool room i'm Laurium, for the
privilege OF conducting his business
on Sunday. This petition has caused
considerable feeling in Laurium. and
at the last regular meeting, various
views were expressed.
II is also likely that the council
will set date when the books of the
village will be officially closed. Last
year the books were closed on Febru-
airy 20 and It is likely that the date
this year will be nearly the same.
The present administration has
made very satisfactory ,ehowing
with the finances OF the village so far,
and the report this year promises 20
be as good If not better as that made
last year Since the FIRST meeting
when IL was found necessary to bora
row $4,000 to meet the current ex-
penses. the council has not found II
necessary to borrow money, although
number of important improvements
have been made in the village. 1t Is
likely, however. that loan will have
to be arranged for az the next meet
ing, for although there are sufficient
funds in the treasury at the present
time to meet the January bills, the
balance left to. meet the February
obligations will be very small.
At the last regular meeting, tie
council transformed fund of $2,5O0
from the sinking FUND Of the village
to the general fund. This money was
placed in the sinking fund in 1908 10
remain there until 1909 when the larg-
est bonds OF the village became due.
As the sinking fund was more than
sufficient to meet the bonds last year
1t was thought advisable to apply tho
balance to current accounts.
From this year the bonds Of the VIII
lage will gradually decrease until 1925,
when the sinking fund Of the village
will he sufficient to wipe them out en-
tirely This year the bonds and inter
est amount b only S14,a50, whereas
last years bonds and interest am
ounted to $4,000. Next year the bonds
and interest 10 be retired amount to
s15,O50. A total Of the, bonds and in
terest to be retired between now and
1925. in specified amounts each year,
is sl7O,25O. At the first of last De-
cember the sinking fund of the viii
lage amounted to s17O6S.57, but dur
ing the month. bonds were met, and
the $4,000 before mentioned was trans
ferred, reducing the sinking fund to
S12.51S.53. on January l..
There Is outstanding about $4,000 Of
the village taxes half OF which will go
into the sinking fund when collected.
II it were possible for the village TO
have the use of this money at once, 1T
might be possible to get along with
out making any loans.
In addition to the bonded indebted
ness of the village, Laurium has con-
tracted debts for the special assess
ment fund which must still be met. 1t
is thought, however, that the special
assessment taxes will be sufficient 10
meet them.
The annual report of the village
which will be prepared some time IN
February Is likely to be a very salts
factory one, when all things are con-
sidered. Although the village will not
have large balance in its treasury
and here are a number of improve
ments which have been realized dur
| ing the year. it will be apparent
that the village funds have been care
fully managed 1871
| rho Taurfurn village has a large