The evening herald. (Klamath Falls, Or.) 1906-1942, 1912-02-26
FIGURE IT OFT FOr YOCRsEI,E

IN NNOND'''' w s"N f'N''SOeS W
"a the new charter for the city u!
klamath Falls drawn up by the mayo
and city attorney, the people Of thi'
city are asked to pass law author
ixing the Increasing OF the indebted
ness to $550,000. and this In addi
tion to the 100000 or more whict
has been expended for street Improve
ments, and for which the propert,
benefited Is assessed. and will hav,
to pay In ten annual installments.
Without prejudice and In all seri
BUSINESS We believe that the mayor l,
affected with a disease or mania fol
spending money. which. II not curtail
ed Immediately will bankrupt aud
place burden on the people OF thi,
city which It will take life tim,
to discharge.
Five hundred and Atty thousand
dollars indebtendess for this city
would mean an annual interest charge
alone OF $4,000. or more than the
total revenue OF the city. and In add.
tion to this there will be the general
running expenses Of the municipality
which will have to be met.
Now, II Mayor sanderson does no,
expect to take advantage OF the op.
portuntty to mortgage the city to the
extent OF $550,000 we see no reason
why he should ask for this authority
In the new charter. II Is quite cy!-
dent that he does wish to take ad.
vantage OF IL to the limit from the
fact that his main argument for a
new charter has been because under
the present charter the authorized
bond Indebtedness was not sufficient
to permit him to make the improve
ments that he wished.
Now, We will see II he Is right. In
der the prese nt charter the city 10 per-
mitted to Issue 9l50.000 In bonds and
$4,000 In warrants. or a total OF
100000. The warrant Indebtedness
10 already exceeded: $4,000 sewer
bonds have been sold and $4,000
water bonds. totsiIng $4,000. II
has been voted to issue $4,000 In
bonds for new city hall and hre ap-
paratus. which would bring the
amount up to $4,000. and would
leave 355.00o for building new sewer
systems.
1t would seem that this would be
amply suficient to complete the
sewers Of the city. but II more money
was needed. why would II not be
good policy to dispense with the
building Of city hall for the present?
Il has been several years since the
,ity hall bonds were voted by the
people. and the same have not been
disposed OF up to the present time.
md the city Is getting along very
nicely In It's present quarters. The
'fiicials are now provided with CON-
ortable. roomy quarters. which arc
costing about $50 a month. or $3.50
year. The interest on $40. 900 bonds
would be $500 a year. and by using
he present quarters a saving could
~ made Of about $500 q year. which
would be q great help toward meet
ng the running expenses OF the city.
md would not deprive the property
'wners Of any necessary improve
nent.
klamath Falls Is growing and viii
ontinue to grow rapidly for years TO
'ome. In ten years this city will
'ave a population OF from $4,000 to
5000 people, and a city hall built
Il this time and suitable to the needs
u the present time would hardly be
Il for a wood shed for the city In
light or ten years. We would then
Ind that we would need a new city |
icme. and had not even the interest
N the old one paid for. to say moth
ne Of the principal.
In spending money It is always wise
|rst to sit down and ngure what your
ncome Is. and In no case exceed that
mount. OF course the annual in
ONE Of this city can naturally be ex-
ected 10 increase from year to year,
3 the city grows and property values
Increase, but under the most favoi-
BILE OF conditions It will never be
lfficient for several years to warrant
D indebtedness Of over half a million
ollars. With our limit OF Indebted
ess under the present cnarter of
200. 900 the interest alone would
mount 10 $4,000 a year. To pay
be principal Oh In twenty years there
iould be set aside each year $4,000.
nd In addition to this there will be
'e running expenses to be taken care
!. Now. we would ask Mayor San
srson to subtract this amount from