Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-04-19
ALDERMEN CONCUR IN
100000 BOND ISSUE
Provides Funds for Extensive Public
improvements i'm Many
Sections.
PAYS OFF BIG FLOATING DEBT
Shockoc Creek Improvement to Take
S3O0,000-Fund of $4,000 Pro.
vided for Paving Sidewalks and
Alleys-GaS and W. Extension

Without debate the Board OF Alder
men. in special session last night, con-
CURED in the ordinance authorizing Il
bond issue OF s2.QoO.0OO for perma-
nent city improvements. The bonds,
which will be dated January /. 1916.
will bear per cent interest. and their
life is for Il period of thirty-fvur years.
The board, with only ten members
present. WAS called to order shortly
after o'clock. Alderman Fuller
wanted 10 know for what purpose the
item Of $4,000 in the appropriations
for the North Dock street Improvement
would hc put TO, thinking. he said,
that the Council had already appro.
priated all the money needed for this
work. Chairman Grundy. of the III
nance Committee, stated in answer TO
the question that the Council had only
appropriated $4,000 for this improve
mcnt, and that the remaining SIN
GOO covered by the bond issue was TO
complete the work
TAXES Up DEBT ON
FIRST REGIMENT ARMORY
The item Of s237.275 for other per-
manrnt public buildings and pcrma-
nrnt improvements also caused Mr..
RULER TO make inquiry as to the prob
abb" expenditure OF the money lie
was advised by Colonel t;rundy that
the Council. Of which sl35. 600 was for
tn" First Regiment ArSlory, and the
remainder for schools. of the s237 215
III the new bond issue there only re-
manned $4,000 which tho Council
would aliot, said Colonel Grundy.
Alderman GunSt. OF Lee Ward de-
sired to know what assurance there
was that the $4,000 appropriated in
the issue for the Shields Lake i'm
provenent would complete the work,
saying that he would vote for the is (
s'i" i ,a2. 2:"o"nt completed the pro-
Jet. hut that he was tired of appro-
priatinS money for this Undertakings
MIR. Paul protested against the issu-
ance Of bonds. Interest on the out
standing obligations. he said. would
cost the city more than $1,000 900 next
,r. lie thought the time had come
EN- the city should live within it's
income. and should not be continually
making bond issues. Chairman C;rundy
replied that II Was necessary for the
growth Of the city, and that when i'm
proNements were stopped. the city
ceased 20 grow
CITY SECURES MONEY
At MUCH LOWER UATE:
II have some figures that might he
interesting said Colonel Gruudy. In
1896 the city's fixed charges were 80
per cent of it's income. while now they
are only ~ per cent. This was not
caused altogether 10y economy. as We
now secure our money at a lower rate"
The bond issue, recommended by
the Finance Committee and az adopted
by both branches OF the Council. makes
the following appropriations:
Public schools, buildings aud sites.
S5S2.l15; Binford School addition, $50
900; colorcd Normal School site. sc5.-
600; Water Works. nume. including
right OF way. 100000: Water Works.
mains, Sl0S,000: construction Of sewers.
100000; Shockoc Creek, s30o 000:
North Dock street improvements. $780,
600: purchase OF Fcitig property. 500
900; Phillips property. $4,000 city
storehousc. $4,000: Second Police Sta
ton. $4,000: Gas Works. mains and
improvements. S109.556: Elcctrict Light
Plant. $4,000 sidewalks construction
and alley improvements. $4,000: inn
provement OF Marshall Park. 10000:
Improvement OF Shields Lake. $4,000:
other permanent public buildings and !
permanent improvements. s231,2I5, and
survey annexed territory. $4,000.