The evening herald. (Klamath Falls, Or.) 1906-1942, 1919-02-08
THE EVENING HERALD,

L.
ainllmcnta or fail 10 pny out on the
amount charged against their prop
crty, the city must, II rs financial in
tGgrlty 10 maintained in the outside
world ana the rrault IN that Mr..
Property owner on IN" Third street
or Ninth street Improvement who
pays up promptly ih" annual install.
in"htB ana interest or pays up IN fun.
must shoulder his proportion Of Il tax
levy ruilIcI"nt 10 pay out the Sixth
street delinquency. ana that iH Just
exactly what iH being done nt thiH
time
II U all very soothing and aaiis-
Tying 10 read IN your churtrr when
subsequent general improvements
ar" contemplated and very badly
needed ana IN which the whole city
" vlinlly Interested from sanitary
aud build-up standpoint, that IN est
p mating the total bonded Indebtedness
Of the city, Improvement bonds issued
for local street improvements Rhall
not be- included IN such estimate or
= computation, But II don't work out
IN actual practice. for MIR Bond Buy
. W ilN'pl iFb'lNE IHF InbUtlil NllIN
Ing uf til" city Ia connection with "A
contemplated issuance OF bonds for Il
sewer, wnt"rwOrks, electric lighting
1 or water power. is very Inalatcnt on
having exact Information relative to
, all outstanding obligations Of the
city; and II ~ on that status that he
makes his bid. II AT all The bonds
! Uf this city Of Klamath Falls find
their way into ali manner of hands as
! Investments. they form substantial
, pnrt nf tn" securities OF suyingB
! banks they are used extensively by
banks throughout the United States
nA securely for deposit OF postal saw
ings money; az Investments for the
savings OF widows and propl" OF mod
crate means. II IN at once patent to
l all hands that much grnycr re.
1 ApOnRibility rests with the financial
| agents OF this or any other city than
IN apparently appreciated. II Is their
moral and sworn duty TO see that the
obligations Of the city are kept with
In u safe limit. 20 the end that itY
financial standing shall not be i'm
pared by non payment of interest due
or the value OF its obligations lea
scncd In IN" marts OF trade by over
issues OF obligations,
n The law contemplated and good
buBincss dictates that. upon receipt
OF petition for tn" improvement Of
any street or streets. the Common
Council shall be advised OF the as
4"ascd valuation OF the property that
viii be benefited and liable for the
cost; and upon that basis determine
what character ut Improvement. II
any. the property can safely be
charged with. The Council should.
AS "a matter of fact. take into consid-
GRAFTON that connsCatiOn Of % per
cent for Il street improvcm ant Is in
addition To II prior, and subject To "a
future Couiiscutiun for taxes, insur-
anc.. up-kcep and depreciation and
the question for the council, us the
financial agent OF the city. is to what
extent can the city safely undcrwrite
the obligations to obtain the neces-
sary funds IL the council justified
or authorized TO hypothecate the fu-
turc 10 any extent whatever in such
matters?
There IL no possible Justification
for the financial agents OF the city
adopting the slogan, GIVE the prop
crty owner what he wants and IL
willing To pay for" In the way OF
street improvements, Mr.. Property
\ owners wants and ambitions can
safely be entertained and considered
only In relation to the financial con
dltion OF the city as whole, and in
the light of It's ability to meet its ac-
rruing obligations.
Now. II Is on this basis, and on no
other, that the street improvement
problem or any other municipal prob
lem. involving the putting out of
municipal obligations. can be han
died with safety To the credit and
standing of this city. II this city. or
any other city. would keep out of the
financial quagmire into which so
many have stumbled. and are today
iloundering about in with no chance
In sight Tor liquidation. and no ave
nue. of escape except by refunding or
absolute reputation,
The troubles OF cities in this re-
gard have their inception in disre-
gard of wholesome law and reguln-
tinn. and In defiance of the dictates
OF plain business principles. coupled
with u too ready disposition to accept
the hip-hip-hurrah attitude of a por-
tion of the population AS a guarantee
/ OF what the future holds in store.