The Canon City record with which is consolidated the Canon City cannon., 1919-03-27

that we may C8bt OHf fbAec al N@E
that unf boost the cify's boat inter
ests-
Ten years ago. at the TING of the
completion Of the new water works
system. there was outstanding. in the
name OF ne city. bonds 10 thr' extent
OF Approximately s45o. 900. which was
divided as follows:
City Genexsi Refundtng Bonnx-s 10000
City Water Works original and
refundfrx --------- -------- $lo.ooo
asge. .00o
Up TO ne incoming of the present
administration the city records do not
reveal the fact that any bend issues
Of the city have ever been paid. ex-
copt by refzznding with the exception
OF small srsue OF $4,000 which was
paid OF during the time that Mr. 7. b.
Coulter was mayor. about fourteen
years ago. shortly following fhis 1he
question Of providing new w.aer
works system 5pr' the city was brought
up and submits<ai 70 a vote Of the quail
Ned electors Of the city. and authority
was given the city council 10 issue az
hieh as s4oo.opu IN bonds for that
purpose. and this vote was pracsralls
unanimous. Can any one say that the
present sdministrzficn is IN any wny
responsible for the creation Of this
bonded debt. or that q has not tsSen
the proper steps IN safeguarding the
city's interests In respect therefor Lei
IN see whsx the facts are as shown by
the records OF the present city cous-
,ciir
rne total s1nount Of bonds issued for
the construction OF the new water
works system was 100000. the city
airemiy hsvinx an old water works
bonded debt amounting TO $4,000: this
old issue has be-sn refunded within the
past si.w years. and the refunding
bonds ran for long period of time
This wss found necessary because she
new bonds that were issued ~eSe TO
hscome one in 1874. and the city eoun-
al. As strict buxtness proposition.
nstciuded that inannuch as the old
tsrue could be refunded to the adTan-
fs6e Of the city. some material resuc-
ftra Of the tig issue should be made
before Il fen due. for unless this vss
done me question OF refsndins might
be dffncult one. and the question OF
the cffy's integr1sy in safeguarding its
credit might be a material obstacle
when the time came for redemption or
payment of the bonds.
While the author Of this misguided
circular perhaps knew that the present
city council will retire $4,000 OF this
bonded debt during fss incumbency.
rather than have this fact rebound to
tfeir credit he has artfuily evaded this.
bnt on the other hand infers that prac-
ticatiy nothing hss been done either
= reduce the debt or 10 take care OF
the system. and would try 20 scare or
intimidate you into voting the~Citi-
xcns ticket by leading you TO believe
that within very short time be-
iieve he says "four years"--the whole
thing IL going 20 collapse. presume
we shall have 70 90 back 10 the good
old days. and get ~ barrel and haul
our water from the river The facts
are that this pipe line is cayefuliy pa
troilsd and inspected, and its condi-
tion l. in good state Of preservation.
No one ever expected that We would
have a system that would not deteri-
crate: but it, repairs, where needed,
are looked after BY competent men.
and IL IL pretty safe presumption
that your children and your children's
children viii yet drink the water com
ing through this eyrtem. True. Il will
have 70 b. replaced IN sections from
time to time and lnishaps may hefall
Il. 30 might these same mishaps BE-
fall the b. 4 r. q. Railroad company's
tracks through ths Royal Gorge. But
why - - nlarmistf The assessed
valuation back Of this imprcvenssnt a.
q sncess q eAooo.ooo. and Y may be-
ecae ~ much ners beeldea, W
4. II ~ 4 ~ = .