Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-02-26
CITY TAX RATE WILL
TAKE A JUMP IN 1917
FINANCTERS EXPECT
Conference Between Mavor n,
partment Heads and Finance
Committee Makes the Stu.
alton Clearer
AWAIT ACTION ON LOAN

With tho city's present anano,,, -,
alton clearly understood as a ros,,,s s''u. M
the six.hour conference between Me-. "
smith, his department heads and ~
FINANCE Committee yesterday, Il is vsr."
ally accepted by city fnanciers that p,',,
adelphia will face an increase in tba ~ ~
rate for 1917. No steps toward ,hls ,', "a,
be taken, however, until the proposed MIN
tcipal loan has been floated and the ~
gram OF public improvements possib,.
under the loan has been begun. '''
Under the present borrowing cannc,,v !,
the city OF SS5,OOO,OO0 there Is avalab.
for port and transit improvements annre.
imately s69,000,000. This amount Viii ~ z
sufficient to carry to completion the Frs.,
ford elevated, the Broad street suhvs {
and to complete n part or begin ALI ~ ~.
other high.speed lines proposed bv ny n,
rector Taylor, should the present adrirJ.
tratlon decide to carry out the Tavin.
program In full.
, SUMS FOR IMPROVEMENTS
In addition to the money available "a,
port and transit, under the amendmen,
to the State constitution increasing ,ba
borrowing capacity from to 10 per cant
there is St6,000,000 available for othss
permanent improvements or for purposs,
other than permanent improvements
The borrowing capacity OF the citv ON
paper is $115,O00,000, but there must IA
charged against this the $40 OOO, 900 Of lin.
funded debt, which must be counted as an
active debt following the Pittsburgh court
decision of last year.
100000 900 SCHEDULE ITEMS
The S30,O00.000 schedule Of unfundsd
debt will be included in the loan in all
probability. The items in this will be,
Parkway. land and Improvement. $40. 900 ooo
Free Library (halanee reaulredl. -. 2.isOS1o
parks and Fairgrounds. ......... Isassoo
sauth Php lfnTses ursdc cro:s,rr, !s.i!
Sewerage disposal plant. ....,..'. i'ScSdx
Frankford Creek drainage system. l,5O0SSe
Belt line extensions. etc. ....,..... s,S66om
The $16.000,000 available for general
purposes and for permanent improve.
ments, other than transit and port will
be divided into two portions, one for i'm.
provements and the other to complets
current appropriations for salaries and
department expenses for the current year
and to meet deficiency bills for 1915.
ESTIMATES OF FINANCIERs.
City financiers estimate that nearly
S6,OO0.000 will be needed for the deac.
iency bills current expenses not met by
current revenues and sinking and interest
luHu CnalB Bes ol tue new IoaIl. Inls VIII
leave about S10,0OO,O0O Immediately
available for the big public improvements
planned for Philadelphia.
When the s95,0o0,OoO loan which was
later abandoned, was planned the items
included part of those now listed in the
unfunded debt schedule and others which
will be cared for under the S10,00O0O0
available under the new program Az the
estimates made at that time far exceed
the amount available now, considerable
pruning will be necessary.
ITEMS IN FORMER PLAN
The items in the loan as formerly pro.
posed which were not included In the