The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1922-01-20
s1.so ASYEAR
ALDERMEN PLAN TOBOND
THE CITY FOR 500, 600
$4,000 of Unpaid Bills, Crying Need for Many
Permanent Improvements, And Just Enough
Money Coming In to Meet General Expenses

other 100000 added to itsAres-..
ent bonded indebtedness. Mem
bers of the Board Of Aldermen
are talking it among themselves
and this newspapers informa-
ton is that the gentlemen are
nearly unanimously agreed that
hundred thousand dollar bond
issue is their only way out of a
bad financial dilemma.
The city's credit is threatened with
utter ruin because of the inability OF
the administration to pay the bills due.
The city's floating Indebtedness at the
present time is in round numbers S40.-
tOOO, Many bills are six months to a
year past due. Fire hose bought in
1919 hasn't been paid for yet.
The city owes $4,000 in unpaid biie
ard IFS estimated current expense fox
the year is S66972.S0. And added toS
oil that is the interest on bonded in
debtedpess of S152.000. This isn't say
ing ANYTHING about schools and the gra-
ded school tax. The city's revenue Tor
the year when all taxes are collected
will be .SI6,2S66S. When the city has
collected its taxes and paid off its run
ming expenses and the interest on its
Ibonded indebtedness it will not nave
enough money left to pay interest on
Its floating debt, should interest be de-
manded.
This is the situation the city finds it.
self in when its Board of Aldermen
prance gayly up to the State highway
Commission and promise to pave Ehr-
inphaus st. for half mile or more to
meet the State Highway entering the
city from Hertford, provided the state
Highway Commission will route the
Highway thru Ehringhaus st. The Al
dermen propose to spend S2o.ooo at
least TO pave Ehringhaus ST. to bring
the State Highway thru Alderman 'eh'
nette's property, when the Aldermen
can't even pay the city's feed bills, nre
department bills and printing bills. =
But there are other permanent inn
proyements for which the public is
clamoring and for which there is even
greater need than the paving of Ehr-
inghaus st. Recently the Board of
School Trustees voted to purchase the
Davis property on North Road st. for
proposed 100000 High School build
ing. To make that property desirable
for school purposes the city must Gig
in the unsightly, rotten, diseasesb1
ing canal running by the property
mt a street where the canal is now.
will take money to do that and rae
town has no money. Srls ~.
Then there is the crying need OF TAX
ing the bumps out of the antiquated
,cobble-stone paving on Poindexter St,
by giving that street an asphalt or bi-
luminous top so traffic can make use
i. Of il. That will cost money and the
city has no money.
. There are many other permanent I'm
proyements needed. Improvements are
: needed on the markethouse and there
is talk of fixing up the town hall to
make decent quarters for the fremen.
Then there is that bridge on Water ST.,
near the Elizabeth City Iron Works
t which is a constant menace to life and
! property. That bridge is going to be
4 the death of some one or an automo-
bile full of folks one of these days II
t it isn't scrapped and replaced BY safe
| bridge. That bridge must be rebuilt.
r And the town has no money to spend
on this imperative need.
And so there is talk Of bond issue
among the Aldermen. The Aldermen
think if they can borrow 100000 they
can pay off the. floating debt, pave Ehr-,
} inghaus ST., abolish the canal that runs
by the new school site, put smooth
surface on the paving Of Poindexter
St., replace the bridge on Water st.,
buy a new checker board for the police,
: department and do lot of things.~sI
, to how the new bond issne will be paid
, off, the present administration doesni
, worry-their successors in Office 70
the next twenty or forty years will
, worry about that.
Mayor Goodwin also is in favor o.
, the bond issue. It's the only way out
; as he sees it. Mayor Goodwin says thl
city can stand bond issue of $1O0,OO(
: easily and have no trouble in selling ii
: bonds. Under the laws of North Carol
lima cities are permitted to bond to ttfs|
. extent of one-tenth of the listed yalu,
e lof their taxable property. Elizabetl
l City has about seven millions of pro-
D erty listed, allowing it bonded.
h debtedness of 100000. The city's pre-
t ent bonded indebtedness is only SIN
e 0O0 Elizabeth City having an unusu
Y ly small bonded Indebtedness as co
pared with other towns Of sind
k wealth and size.