The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1922-05-16
{. CHICAGO
AUTHORIZES
BOND ISSUE


taxes collected up TO May / insult
hcient to pay the city's current ex-
penses. East Chicago is forced TO
authorize a refunding bond issue of
$3.50
The common council at a meeting
last night passed an ordinance au-
thorizing the issuing of $205.000 OF
time warrants to bear 6 per cent in
terest and to expire August /, this
year. At the expiration of this
time. bond issue of duplicate
amount will be authorized to carry
on this loan. according to the pro-
gram introduced by the council last
evening
$4,000 PARK ISSUE
In order to continue with this
years park improvement plans, Park
Attorney A. II. Sambor. when intro
ducing an ordinance asking that
the council authorize a bond issue
of $4,000. said that the park board
would require this money In carry
ing on the work in the various parks
and to keep up their maintenance
fund during the present year. The
ordinance was referred TO the
finance committee for investigation.
.CITY's FINANCIAL CONDITION
BAD
Introducing the ordinance asking
for the s205.0o0 bond issue, Comp
troller P. A. Parks explained that
this amount was to be used in pay
ing off two BOND issues falling due
he
said was made last fall, and the
other issue of 100000 time war
rants was authorized by the pres
ent council the first of this year;
thus bringing the outstanding loan
to $500. 600 and with the accrued in
terest on both issues of $4,000, MAX
ing a total Indebtedness of S205,00o-
Comptroller Parks said. Without
trying to shade any facts, the city
is not in the best financial condition
at the present time" Considering
the amount of city taxes to be col
lected and the amount of money in
the treasury now. Comptroller Parks
was somewhat pessimistic as TO the
city's financial standing at the close
of 1922
AUTHORIZE j. AND L. SEWER
An ordinance. approving cum
tract and entering into an agree
ment with the East Chicago Com !
pany. local real estate firm, that
will permit this concern 10 lay at
their own expense sewer and
drainage system across 15oth st.
and south along White Oak ave to
the Calumet river. was referred TO
the street ard alley committee OF
the council. This is one of the
linking points in the closing of the
real estate transaction for the 1000
acre site to he acquired by the Jones
and Laughlin Steel Company Just
west of the Fast Chicago city lin
it's Sometime ago the Hammond
council approved similar oruI-
nance, permitting tho East Chicago
Company 10 lay a sewer and, drain
age system in that city's corporate
limits
AppRnPRIATING ORDINANCES
An ordinan nee, appropriating
81 600 for the purchasing of horses
to be used by the city was adopted
An ordinance app~opriatlng S2oo
and amended to read s275. to 5e
used as an expense fund by Chief OF
Police c. {. Struss. when making his
visit to the chiefs convention TO be
held in Los Angeles in June, was
adopted by the council as amended
An ordinance appropriating $1,000
for city hall maintenance was re-
ferred to the finance committee.
An ordinance appropriating S2'oVo
for the purchase of an automobile
for Fire Chief Charles Smith was
referred to the finance committee
petition signed by business men
on Michigan ave. requesting thas
the board Of works take action OF
making improvements along this
street. was read to the members OF
the council. The petition called at
tention to the unsightly condition
of the main thoroughfare of Indians
Harbor with the street in delapi-
dated condt tion. lamp poles down
and the walks torn up in many
places, Councilman Donovan rec
commended that the hoard of works
take Immediate steps to make the
necessary city improvements along
Michigan ave.