The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-09-23
Claims the Fund Now las
$1,300,000 Less Than 1t
Should Have
NEARLY A MILLION
IN BONDS SOON DUE
Thinks People Are Giving Thought to
Fallacy of Commission Govern
ment-Says Courts
Saved City

gOSLtlQdN SetAQ ne huS sun Ol
the opinion that more light" should be
turned on at the city hail. and referred
especially to the city's sinking fund:
For instance, a statement touching the
fiscal affairs of the city of Birmingham
for the year ending September 80, 1915
as set forth in a publication by the city
authorities annual report, September 80.
1879 is of deep interest to the taxpayers
of the city just at this time said Mr..
Moore.
Taking the 10 years. to-wit, 1903 to
1915, inclusive: Total advalorem tax col
lected for sinking fund to-wit, S. on the
$1,000 So 473,S7013; total amount paid for
interest on bonds issued prior to adop-
ton of constitution, 1901. $1,575, 900, which
should leave a balance in sinking fund
of s1,S9S. 27o13.
1.-THE total bonded debt of the city
of Birmingham. at time of the adoption
of the constitution. was s2,124.0OO The
mills adyalorem tax of the year, 1916,
on assessment conseryatively estimated
at sos 100000, will more than eliminate
the balance due on the old bonded debt.
1 make no reference to the money de-
rived from interest on bank balances,
nor the reneals from city hall stores, all
of which property belong to this fund.
I'm face of the figures which are fully
set forth in the last annual report of the
city commission Q915) the statement is
now made by the chairman of said COM
mission, that there is less than $550000
rtact in the sinking fund at this time.
The people very naturally wish to
know what has become of s1,3OO,0o0 of the
money they have paid for the discharge
of a specific debt. The only explanation
that can be made is that it has been il
legally diverted" word which requires
the touch of the soft pedal to remove 1t
from association with an ugier word.
1.-THE present condition of this fund is
a most severe indictment of our COM
mission form of government, or of the
personnel of the membership of the COM
mission, since it's inauguration.
What are the taxpayers going to do
about it? They were under the impress
sion that their taxes were doubled in
order to discharge a debt they owed;
but after paying every assessment up to
date, and figuring on accumulation
of $189S, 27013, which they have placed
in the hands of the city authorities, for
legation, they are informed that $1,000, 600
of this sum has been diverted to other
purposes than that for which they paid
it into the treasu
1.-THE bonds of the city issued prior to
the adoption of the constitution will
soon begin to mature, or become payable
as follows: December, 1916, $4,000; in 1917,
SIS 900; in 1918, $4,000; in 1919, $4,000; in
1920, $500, 900; in 1921, $4,000; equalling
$780, 900 within the next five years, or
nearly one-half the old bonded debt. Not
until 1881 will the last of these bonds
mature and the then last due block is for
only $500
THE question is: Will the people con-
tnued to pay the full mills tax for
sinking fund to be sunk into oblivion,
until the date of final maturity? Or will
they demand of the commission reduc
ton of the mills to the minimum figure
necessary to meet the special obligation
reducing same each year until the ac-
emulation will have met the full obli-
cation? If the latter course be adopted
there need be no levy of this tax for the
next few years, over which relief the
taxpayer would rejoice and feel able and
encouraged to support the proposed School
tax amendment.
an the meantime, just how the city
commission is going to settle with the
taxpayers it's diversions of 100000 re-
mains problematic; and yet matter for
thought and discussion, thought OF the
fallacy of commission form of govern
ment and discussion of ways and means
Of Kidding the city of Birmingham OF
the incubus which weighs upon it under
the present order of things.
Birmingham has one comforting
| thought in this hour of tribulation, and
that is that when the city commission
| had carried the municipality to the verge
| of the precipice, to the very mouth OF
the yawning gulf with a $s0O0,000 more
| bond issue. the life line of the courts
were thrown out and did save from inn
mediate destruction.