La Junta tribune., 1917-03-08
CITY FINANCES
Finances OF City Are In Better Shape
Than Ever Before known-Sur-
plus In the Bond Fund

-
Junta have the finances OF the old
town been In such good shape as
they are at the present moment and
will be at the close of the fiscal year
on March 31st. All city warrants are
spot cash, and have been since Aug
23d, when the last of the outstand-
ing warrants in the water plant in
cidental fund were cleaned up. From
May 18th to August 23d registered
warrants We're paid in the water
plant incidental fund to the amount
of s4.46177, and since the latter
date warrants In all funds have been
spot cash.
At the close OF the fiscal year
there will be a surplus in the water
plant funds OF $4,000 in spot cash,
which will have to be transferred to
sinking fund on April LIST TO apply
on the payment OF the water bonds.
On April lst water bonds to the
amount OF $4,000 will be optionaliy
due and payable. and this will leave
a surplus in the bond fund OF 81, 900
which cannot be used until April.
1920. which is the earliest date on
which any of the water bonds be-
come due and payable. This is the
that such thing has ever happened.
In previous years II has been the in
variable custom to refund bonds
when they become due. This Is the
first time in the history of La Junta
when the city was prepared to take
up water bonds when they became
due and have a good surplus left
over that was available for the sink
ing fund.
La Junta's first bond issue was
for $4,000. and known as the Otero
canal bonds. They were issued on
August /. 1892. and were to run for
period OF fifteen years. The last
of these bonds was paid off on Aug
ust 4. 1919.
The first water bonds were issued
September /. 1892. The amount was
$4,000. which was the sum paid to
the Santa Fe for the original water
plant now owned by the city. but
since that time greatly developed.
This issue was refunded October 2.
1899. Since that time there have
been n number OF issues OF bonds
for water plant purposes, and the
present water bond indebtedness OF
the city IL $4,000. This will be
reduced to $4,000 on April LIST.
when $4,000 worth OF water bonds
will be due and payable.
At the present time the city has
cash on hand to the amount OF s2s,-
ss5.25. There is a good balance In
city. and the total of the balances
in the city funds proper amount to
s16.707.61. As this amount will be
on hand and available at the begin
ming OF the fiscal year on April lst.
II is now proposed to take up the
$4,000 issue OF park bonds which
will become optionaily due on May
I. 1917. This will still leave the
city with = good balance OF cash on
hand. and more cash will be avail
able when the last half Of the taxes
arc due and payable In August. The
park bonds were issued May !. 1907.
and become optionally due May /.
1917. and actually due May I. 1929.
During the fiscal year just draw
ing to = close the city has paid off
water bonds to the amount Of
$1,000 besides S%.4si.77 Of regis
tered warrants. or . total OF es.<s1.-
~. Before the new fiscal year is .
month old they will have paid off
water bonds TO the amount Of $4,000
and $4,000 In park bonds which
become optionsiiy due on May LIST Of
the present year.
G.. A. Clark. head pumpcr st the
city pumping station. has made .
wonderful record during the two
years he has been In charge there.
He II . natural born machinist. and
besides doing almost all the neces-
aary repair work At the plant. and
thereby saving . great deal Of money
for the city. he also made . great
record In reducing the cost OF opcr-
ating the plant. especially ~ regards
the coal supply. During the two
years he has been In charge = total
Of s12.773.2s9 gallons Of water
have been pumped - compared TO
7s?.iI3.12s for the two years pro-
vious. an increase Of 1so.sO0.is% gal
Ions. Notwithstanding this great In
crease In the amount Of water
pumped there was q saving In the
amount exnNnded for coal Of $685.