The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-05-26
COST ONLY 10 CTS.
New Auditorium and City Jail
VIII Be Reasonable.
Taxpayer Pays a Dime a Thou
sand on Valuation.
WILL BE CHEAP AT ANY PRICE
People of Topeka Cannot At
ford to Pass Up Chance.
And the Results Will Be Felt
by Both Rich and Poor.
WILL BE CHEAP AT ANY PRICE

The statements have been made by
those who are advocating the voting
of the bonds for the new Auditorium
and city Jail that the 100000 bond
issue for thirty years will mean a tax
of not over 10 cents a year on thou
sand dollars of assessed valuation and
also that the bonds for the present
Auditorium are not due until 1920 and
! cannot be paid off until then but that
they will be paid off in 1920 and with
out increasing the present tax levy.
p J. Monaghan is an interested
taxpayer who wished to have these
statements verified. He wrote the fol-
lowing letter for the purpose of secur-
ing first hand and authertic informa-
ton:
May 25. 1916.
Mr.. W. H. WATSON. Commissioner of
Finance. Topeka, Kansas.
Dear Sir: I am interested as a tax
payer in learning the facts regarding
the amount of taxes to be levied and
the costs to the taxpayers of the new
Auditorium and city Jail.
The statement has been made that
the proposed one hundred thousand
dollar thirty-year bonds for the new
Auditorium and city Jail will cost the
taxpayers only ten cents per year on
each one thousand dollars of assessed
valuation. and that this will pay all
interest charges and pay off the bonds
in thirty years or less.
Another statement that has been
made is that the bonds for the present
Auditorium have not been paid off for
the reason that they are due until
1920. but that they will be paid off
when due and that the present tax
levy, without any increase, will pay
off these bonds when they are due.
1 am writing to ask you if these
statements are true. as l am an inter
ested taxpayer who is willing to vote
for the bonds if these statements are
correct.
will be obliged to you if you will
provide me with this Information.
(signed) P j MONAGHAN.
Correct. Says Wasson-
Commissioner WATSON. who has
charge of the financial transa ction of
the city and who is the authority at
the city hall to give such information.
sent the following letter in reply to
Mr.. Monaghan's questions:
Mr.. p. ]. Monaghan, Topeka, Kan:
Dear Sir-Repiying to your letter,
asking for information regarding the
proposed 100000 thirty-year bonds
for the new auditorium and city
Jail at hand. and in reply will say
that 1. city commissioner. am not
taking any hand for or against the
ter is up to the people themselves
and whatever the verdict is I. as COM
missioner, will BE- glad to follow their
instructions.
The commission law. under which
Topeka is governed, makes it obli-
gatory that when a bond issue is
made that sinking fund be pro-
vided for the retirement of the bonds !
If these bonds are voted. a tax of
ten cents upon each $1,000 of valua-
ton, in my judgment, will be suffi-
cient to meet the interest charges and
to create the sinking fund for the re-
tirernent of the bonds probably before !
the expiration of the 30-year period.
Therefore, the statement made to !
you that these bonds will not increase |
taxes more than ten cents upon each |
$1,000 of assessed valuation IS, in my /
judgment, correct
The bonds issued for the building
of the present Auditorium are due in /
1920. They cannot be paid off until /
due. The commission has provided /
for a sinking fund to paw off these /
bonds in 1920 and this sinking fund /
will make the payment without in
creasing the present tax levy.
Therefore, the statement made to |
you that the bonds for the present
Auditorium will be paid off N 1920
without increasing the present tax. I
veribly believe is correct. Yours Sin
cerely,
(Signed.) w. H. WATSON,
Commissioner of Finance