The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1917-02-19
Town Must Soon Provide for
Retiring Bonds That
Fall Due
$4,000 WILL NATURE
TWO YEARS HENCE
Years is Approximately $4,000 in
Spite of so Per Cent Increase in
Grand List and a Growing Tax Rate.

During the past 16 years the expendi-
lures of the town of Brattleboro have
so far outrun its increase in taxable
property that in spite of a gradually
mounting tax rate the town. s liabili-
ties today are approximately $S4, 900
more than they were in 1902.
During that period the town s grand
list has increased from $50,34o.1S to
$S6,300; in other words, taxable proper
ty has increased almost $4,000, 900, and
yet expenditures of one kind and anoth-
er have been SO much that the town s
liabilities as shown by figures in the
| forthcoming town report are something
over $151 900 as compared to less than
$67 900 in 1902. On the comparatively
small grand list of 1902 the tax voted
was 35 cents while on last year IS list,
larger by about go per cent, a tax of SO
cents was recommended
Startling as these comparisons may
appear, they do not indicate that the
town is headed toward financial diff
Guilty, for Brattleboro' S present habili-
ties are well within what is considered
reasonable debt limit. However, the
figures do give reasonable ground for
the belief, already held in many quar-
ters, that the handling of town funds
has not been given the expert attention
it deserves.
There has been a tendency to meet
unusual expenses by the easy method of
issuing bonds without making provision
for funds to retire these bonds as they
, become due. OF the town s present liza
bilities the sum of $4,000 is represent
, ed in bonds, of which $4,000 fall due
, the coming fiscal year. Of this amount
, $4,000 is of the issue of $4,000, known
as the town hall bonds, and $4,000 of
the library and Fort Dummer road issue
of 1912. The amount due the coming
year is comparatively small and could
be taken care of without greatly increas-
, ing the present tax rate.
For the next fiscal year, however, the
outlook is different. During the 12
. months from Feb. l, 1918 to Feb. /,
/ 1919, bonds to the amount of $21, 900
! will reach maturity. These comprise
T $4,000 of the Main street bridge issue
! of 1898, $4,000 of the sidewalk issue of
, 1912 and $3,0 900 of the library and road
!. issue of the same year. With this
, amount coming Que ana no SINKING IuHO
- to meet it the problem of taking care
:, of the Indebtedness in any other way
> than by issuing new bonds becomes ex-
: ceedingly difficult.
Brattleboro's S total bonded indebted
} ness extends over a period of II years
from now, and if it were divided equally
it would represent an expense of $1,000
to be met annually during that time. In
order to make provision for retiring
these bonds the town should begin al
S once to set aside definite amount each
year for that purpose, and in the future
:. no bond issue should be made without
:, provision for sinking fund to provide
~ , for their retirement. Otherwise liabili
NJ ties are likely to increase as steadily
III during the coming 16-year period a.
: they have in the past.
IL In addition to the town s liabilitie
Of of about $l51,000 the incorporate,
us school district had liabilities at tn
close of the last fiscal year amountin.
to approximately $4,000, and the vii
Id lage liabilities of about 1900.