The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1922-01-20

ordinance calling for the submission
of the question of issuance of these
bonds to the people.
The people of Lakeland elected the
present board of commissioners to
run their city government for the next
two years and the commissioners are
willing to give of their time. much
more than they can really afford to
spare in order to try to operate the
city government in an efficient man.
neT.
The city commissioners feel that
they were elected by the people and
that the people have faith in their
ability to handle the city affairs prop
erly but as the city commission sees
the present situation. it is confronted
with the problem of paying off this
past due indebtedness Immediately if
it is to operate successfully and eco
nomically and we therefore believe
that the people of Lakeland should be
taken into the confidence of the city
commissioners and told the exact con-
ditions and we are doing so.
We are not proposing this bond is
sue TO pile up additional indebtedness
on the city. but merely to put the
present past due Indebtedness in the
form Of bonds which can he made pay
able during period of years when
payments of bond Indebtedness are
light, and in going over the bond rec
0rds we find that during the next ten
Years payment of bonds are rather
heavy but that beginning in 1892 and
running for a period of ten years the
bond payment on present outstanding
bonds is rather light, and we think.
therefore. that it is best to make
the bonds payable in ten yearly in
stallments beginning in 1892 and pro-
viding a sinking fund to take care
of same. We were also Influenced in
doing this by the opinion of the bank
ors to the effect that longer term
bonds would bring a better price. 1t
IS true also that the bond issue is for
500, 10000, whereas the actual in
debtedness is approximately 1884,
100000 to $95,000.00. but it can not be
expected that per cent bonds would
bring par, although the bond market
at the present time is in good condi-
ton 50 that it would take this amount
Of bonds to pay off the full indebted
ness, of $95.00000 and this would be
cheaper in the long run than trying to
carry $94,000.00 to $95 100000 indebted
ness in some other form at per cent
interest even if it could be otherwise
carried, and there is no other way
that we can find to carry it.
1t is, of course, not a personal mat
ter with the city commissioners who
are merely your representatives and
they have no personal interest in the
matter other than that they would
like to successfully run the city af-
fairs in order to be true to the trust
that you have placed upon them. 1t
is matter. however. in which every
citizen of Lakeland is or should be,
vitality interested because upon the
proper solution of this financial prob
lem depends the prosperity and wei
fare of the city of Lakeland, and we
as your representatives are Offering
YOU the only solution that We or the
bankers can see of the problem and
you must take an interest in it and
act upon it because it is necessary
that the bonds be approved by the
majority of the voters both general
electors and the free holders and the
solution therefore in final ANALYSIS is
up to the people. The city commits
sioners can not handle the matter in
any other way so far as we can see
and we have taken al the banks into
consultation and this is their opinion
also and this solution can only be
reached ny the people taking an in
terest and seeing that they are quail
fed to vote which would include the
payment of 1921 poll tax and include
registering on the city registration
books. 1t is quite probable that most
OF the voters are registered as most
of them voted in the city election
last summer and fall, but it is also
probable that very few of the 1921
poll taxes have been paid for the