Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1922-07-15
SATURDAY. JULY is, 1922.
yoTR FOR THE BOND ISSUE

City OF Annapolis in excellent
shape and with the city enjoying
splendid prospects for an even
stronger financial position i'll the
immediate future, the voters who
will pass on the $4,000 civic-im-
provement bond issue at the polls
next Monday need have no fear as
TO the city's ability to assume the
proposed obligation.
Starting with the bond issue Of
1893, when the city issued $4,000
worth of 5 per cent. serial bonds in
order TO help put the city on a cash
basis and for minor improvements,
there have been five bond issues in
all which the voters have been
asked to approve. And in the case
of each of the issues, the city not
only has met interest payments
promptly but reductions of the
principals have been made strictly
in accordance with the provisions
set forth in each issue; the various
sinking funds always have been
taken care of with promptitude
and the credit Of the city now is Of
the best.
AT present. the 1898 issue has
been reduced to $4,000 and there
remains i'll the city treasury the
slim of $4,75S.3o with which TO re-
tire Series +, due July /, 1923.
The 1900 issue of $4,000, q per
cent. bonds, which was for making
the first big improvements to the
city streets. and which was issued
in hve series. payable every ten
years, has been reduced to $4,000,
and at the close of the fiscal year,
June so, 1922. there was $7,7S423
to the credit of the third series.
In 1906, the city floated an issue
of $4,000. 4 per cent. bonds for
sewerage improvements, OF which
only $4,000 remains to be paid.
The sum of $1,000 was paid off on
this issue October l., 1921, and the
sinking fund now contains ST.
lI2.34 to be applied to the payment
of the Fourth series. An issue of
900, 4 per cent. bonds was put
out by the city i'll 1910 for minor
civic Improvements, and the prin-
cipal has been reduced to half the
. original amount. there remaining
10 be paid $1,000 on the issue.
One series of this issue was paid
off July 9. 1922, and, after making
this payment, the sum of $70o.54
renamed in the sinking fund for
the next payment.
The last bond obligation incur
red by the city was in 1912, when
an issue of 100000. Az per cent.
{ bonds was put ont in order to pur-
chase the water plant now operated
by the municipality. These bonds
are not due until 1912, and there is
at present in the sinking fund to
the credit of this issue the sum of
$25,373s6. t's
All of the bond issues cited
above brought untold benefits TO
the city, as they were used in max
ing civic improvements which
were badly needed and in enabling
the city to undertake projects
which otherwise would have. been
impossible, The money received
from each bond issue brought adj
vantages to Annapolis that helped
TO raise its standard of progress
siveness and also gave it an inn
petus for sound growth that was
not TO be denied In fact, both the
direct and INDIRECT results of everv
Improvement made through the
bond ISSUES have been of almost in
calculable value to the citizens.
OF special significance to the
voters is the fact that the estimated
taxable basis of Annapolis for the
current year will exceed by nearly
a million dollars the city's taxable
basis three years ago. III 1919 the
taxable basis was S5,o0O,OOO. while
for 1922 il has been approximated
at $6,SOO00o. This condition
shows a healthy growth, and it
can. in great measure, be atttribut-
ed to the cumulative effect of all