The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-06-16
(Receipt)
RECOMMENDATIONS.
Ronds.

Bonds.
On the first day of July, 1916, the
City may exercise its option Of paying
the two following described bond is
sues. Water Works Extension Bonds.
dated July l, 1906, bearing SO, total
issue. $6,0O0O0; and City Hall bonds.
dated July l, 1906, bearing $50; total
issue, $25OOOOO.
l respectfully suggest that the entire
water works issue be paid. This can
be done by USING all the money to the
credit of Water Works Extension
Bond No fund, which will approx
mate on the date when the bonds may |
be paid, the sum of 81, $4,000 and which |
sinking fund was raised for this pur.
pose, and by paying the balance of
said issue from the water works fund. |
l also think that it would be good
plan to pay 100000 on the City Hall
issue, from the City Hall Bond Sink
ing fund, which fund will have about
this sum to its credit upon the date
that bonds may be paid.
| If these recommendation receive
your favorable consideration, Our an
nual levy for sinking funds may be re-
duced $4,000, and the levy for interest
$65O0O, making a total reduction in
the taxes of $l,l50.O0; and the City
Treasurer should be instructed to no.
tify the bond holders that said bonds
will be redeemed by the City on the
date before mentioned.
Water Works.
From the best information that |
can obtain. and I have given the mat
ter careful consideration, it will not
be many years before it will be nee
essary for the City to replace large
percentage of its water mains. Much
of the underground system is in bad
state Of decay.
Provision should be made by ordl>
nance for creating sinking fund for
the purpose oftaking care of the depre-
citation of the water system. If such
provision is not made, the City will be
up against another bond issue for the
purpose of replacing the said system.
The taxpayers Of the City should not
. of the water works, but rather the
people who use the water should pay
the cost
Under the water works bond Ordi-
nances it is necessary for the City to
levy a general tax for the purpose OF
paying water works bonds and interest
thereon, and this levy must be made
until said bonds are paid.
E At all events, provision should be
made to guard against another bond
Y issue for the water works. The per
centage of depreciation should be gone
S into carefully, and the same included
in cost of water to the consumer.
n In the meantime | would sugges
S that an ordinance be passed creating {
t water works depreciation fund, anc
a that 100000 per annum of the water
t works receipts be apportioned to suct
y depreciation fund, said apportionmen
y to be made quarterly. Such fund coult
II be deposited in one of the City banks
c on time deposit, or invested in cit,
warrants, until such time as it woult
u be necessary to use same, for the pur
g pose of replacing parts of the presen
: system.
II could be spared for this purpose, ant
l. the revenue should still be sufficien
to pay operating expenses and to taxi
care of new extensions.
Audit City's Accounts.
To the best of my knowledge Their
has never been an audit of the City
books. 1t appears to me that som
provision should be made to effect thi
work, at stated intervals. The Chair
man of the Finance Committee, be
u cause of his position, is in closer touc
ID with the City's finances than probabl
lie any other person. excepting the Git
lie Clerk. 1t appears to me that becaus
u of his knowledge of the City finance
S. that he could audit the books of tn
Clerk, Treasurer and Superintendent
Of Water Works in less time, and NOR
effectively than one who has a NOR
- limited knowledge of CITY affairs
~ OF course it could not be expecte
81 to add this additional duty to his a
IS ready heavy burden, without payin
W him just compensation for the tim
III expended in this work.
w ] would therefore suggest that a
"a ordinance be passed, making it dut
of the Chairman of the Finance Con
IA mittee of the City Council, to aud
81 the books of the departments abo,
enumerated, once each year, and tn;
provision be made to pay him for tt
time so expended.
he | do think that an audit of the bool
r. should be made within the near fl
to ture. The audit to commence wit
w Nav 6, 1913, which would cover II
period of time that the present il
~ CumDrantS nave Dcen III OluCc. I
not think that it would be advisab
to extend the audit further back tn;
80 May 6, 1918
90 1t has occurred to me that possb
some time during the next thr
months our present Chairman of Il
Finance Committee, would find t
10 most convenient to do this work, b
10 cause of the dismissal of the schoo
during that period.
would therefore suggest that
this recommendation meets with 20
approval, steps be Immediately tax
to put into effect the same.
90 A"nroved by the Mayor and CT
Council of the City of Caldwell, Id
no, this 5th day of June 1916.
FRED c. BOYES, Mayor
Attest: S. BEN DUNLAP,
(seaD City Clerk
ESTIMATE OF EXPENSES
1o16-1917.