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

The ordinances pertaining to tn
| bond issue and special election do no
provide for the deposit OF the overplu
beyond the semi-annual payment into
a sinking fund: but if collected from
the people it should be preserved sep
arately. just how much has beer
collected beyond the $1,000 90 per veal
requisite for the interest paymen
would depend upon the total assessed
valuation Of the taxable property up
on which said special assessment
rests.
1t may be that the unconsumed over
plus could be RENTED to the tax debt
or in the form of reduced assessment
from four mills 10 two mills n to one
mill. If the debt does not require the
creation of sinking fund such q
large volume of money should not be
collected and placed beyond the PEG
pies use. If any oyerplus from this
special tax has been placed into the
general treasury and used by the
| Town of Franklin the body of the
people have no legal recourse to re-
cover it back. There is no source
| from which it can be recovered, nOl
have they been injured if it were used
for their benefit.
The tax debtor could, as a legal
proposition, prevent the use OF the
money by injunction for any other
purpose than the payment of the in
terest and the deposit of the oyerplus
in a special treasury: but his remedy
in this direction would apply only to
future tax years.
Upon the basis of an assessment OF
| said SI50.0O0, the four mill tax would
| be more than sufficient to pay the in
| terest alone. Really, it could be levied
in full only in 1921 and would there
after more than carry on the payments
| for the full twenty years if the assess
ed valuation did not increase beyond
| its present basis.
Therefore. when kept up to the full
limit for the full period of forty years
the tax will realize more than $780,
| 900. 90 to pay total debt OF s39, 600. 90.
Respectfully submitted,
EMMETT ALPHA, City Attorney.
The Secretary was directed to
look up the ordinance relating to
the cutting out of the electric light
and water service TO customers
VINO fail to pay their bills for
same, and to see that the said
ordinance be enforced.
On motion of Mr.. Boudreaux.
seconded by MIR. OhImeyer and
carried, the Mayor was author
lied to negotiate a loan to the
town for Whatever funds may be
necessary at this time.
1t was moved by Mr.. Ohlmeyer,
seconded and carried that COM
mittee of one be appointed by the
Mayor to act with the Secretary
to examine the assessment roll OF
the town Tor the present year, ana
to report on same at the next
meeting. The Mayor appointed
Mr.. Boudreaux.
1t was moved by Mr.. O'Niell,
duly seconded, that the Secretary
and City Attorney take up the
matter of town licenses, and make
report at the next meeting.
On motion oof Mr.. Ohlmeyer,
duly seconded, the Secretary was
directed to make a list of the ma
terial used by Mr.. Patton on work
for the electric light and water.
works plant, such as the wiring
OF houses, etc., and that Mr..
Patton take over such unfinished
work, and pay the town for ali
material so used.
The following bills, properly o.
KID. by the Finance Committee OF
the former administration were
read, and on motion of Mr.. Boud-
reaux, duly seconded, were Or
dered paid:
Fort Wayne Electric Works Sc 25
. j Byerle Is
A A Delahaussaye IA 50
Standard OH Co. 49S SO
Louis Lude COL
Board of Supervisors of cleo
ton IS col
The Fairbanks Co. 7 50
The Fairfax Refining Co. ISL
Kyle Lumber Co., Ltd. II 23l
Pelance Elec. Heater Co. | sol
ST. Mary Hardware Co., Ltd. 5 55t
st. Mary Banner 210I
A Reuter- ! O3
NJ Bell, Son, Ltd. l 50
DamersOn-Plerson Co. Il so |
w 1 Peterman, Sheriff 9 20I
Kelley and Mueller Ii 20
Electric Appliance Co. 2 COL
Inter-Oceanic Com. Co. Is 4Ol
Interstate Ell. Co. Ltd, l. %
Broussard & PecOt COL
Berwick & Byerle 2OOl
Inc emerson Ell. Mig. Co., Is ~ |
Z L Patton & 55I
w OOQWarQ- w lght u Co., Ltd II sol