The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-12-12
'CITY'S SIDE OF
THE PAVING SUIT
Property Owners Said to
Benefit by Financing
arrangement

That the owners Of property shutting the
paving will be he ones 10 lose y an ad
verse decision " reached In the cult sled
against the city and the u Paso Bituliihie
Paving company was declared BY omeials
a. the city hall today, who have kept In
cioae touch with the paving program and
who. II was said. are sufficiently advised 10
back up their assertions with facts and
hgures.
II wss pointed out that u Albuquorquc's
plan Of financing the paving was not hene
hcial 10 property owners, the city attorney
Of Roswell would not have come 20 Aibu
querque last week for The purpose Of learn
Ing the details N the plan. with n view 20
putting IL into eject in Roswell In oonnee
ton with a 100000 paving program nov
contemf latcd by that city.
Lower Interest Rate.
City oaheials declared that II was just a
question Of whether property owners AZ
fec'ed by the paving are to pay six per cent
interest on the bond proposition or eight
per cent on the certificate proposition. Paw
ihg certificates. II was pointed out are IL
saed In odd amounta. while the bonds being
given BY the city a. aEainst the paving Ger
tihcatea. are In denominations Of $500. For
instance. a paving certificate may be issued
by the city 10 the contractor Tor $50. 65. IL
is dimcult TO obtain a purchaser for a Ger
tihcate for this amount because The amount
Il odd and il IL dimcuit for an investor 10
keep track Of the Interest on u.
The bond proposition. authorized BY law
Is In effect NOW. u vas stated. In Washing.
ton. Oregon. Colorado. Arizona aud nrmer'
Gus other states Of the union and considered
the most modera and up to date PLAZA Of
financing paving improvements.
The Important points made AZ the city hail
are that the paving beads are under ma
circumstances aud IN no event o debt Of the
city. that the city assumes no more obliga
tion ~ pay the bonds In event Of default
than the most Innocent bystander. that ths
exchange Of bonds for certificates Is withenl
cost 10 the city that the city has The Or
snnirAtion to do the necessary work Of col
leciing the interest and tho principal on III
certificates and farming the same In a. bond
money without added expenscs; that the IN
terest collections are only made twice
year; that property owners hiFinE payini
Asfoasmchis against thsif real estate hay'
not heretofore defAuited In paying their Oh
legations and that u Is not expected AM
liens will he foreclosed. and that alioEeihel
the bond plan j. the most satiafaetory on
for financing paving far property owner
that has yet been introduced In New Mexico
Albright FILED Suit.
The application for an injunction aEains
the paving program was dled yesterday At
teruoon in the district court BY J. q. Al
bright ~ u. JAmison h. attorney for Nj
q AANNAANNH ANN Wy - MNHHN NA
Der 90 20 show cause why the Injunction
should not be issued.
The complaint alleges that the ordinane
passed BY the city commission. giving III
Bitnlithie company certain bonds In eSchnnE
for paving certificates. is null and void an
NJ no effect. because said ordinance and N
bonds issued In pursuance thereof pled=s
the city 10 collect and enforce al pawn
asssssments whereas the city has nc pow'
90 pleige itself 10 collect and enforce a
paving ssssssmcnis and because IN all prol
ability paving assessments cannot be eollce
ed and enforced. .
II further alleges that upon a 100000
paving contract such A. the bitnliihic con
pany has tho bonds Of the city Of Albuqne
que which are promised 20 be issued D
this ordinance will be WORTH approximate
$4,000 more than the paving certificate
which the Biiulithic company will give
exchange for said bonds. and the Bituiith
company will give no consideration whaieyI
for said s25 600; and that they well kno
that the issuance ~ the bonds Is 10 q
great financial disadvantage 81 the city
Albuquerque and TO their own financial a
vantage.