Imperial Valley press., 1932-02-26
CITY ENGINEERS REPORT SHOWS
Ell CENTRO IN GOOD CONDITION

been no default in payment of any
bonds or of any interest. The $780,
868.05 represents the aggregate
amount of transfers from the gen.
eral fund to the special assessment
bond funds for the purpose of
meeting all delinquencies of all spe-
cial assessment bond funds from
the time they appeared on the as
seSsment roll until the end of the
fiscal year of 1930-31. The audi
tors report for 1930-31 shows there
were no delinquencies in any spe-
cial assessment fund, and that at
the end of the year there re-
manned balance of all such funds
of $30,27984.
Delinquent Assessments
Turning to the delinquent as
seSsment roll and taking off the
entire amount Of unpaid delinquent
special assessments from the time
they were entered upon the assess
ment roll until the end of 193O-31,
the amount is found to be $37,-
842.76, according to figures furnish
ed by the city clerk.
THE delinquency OF the roll,
therefore, averages 9.27 per cent,
and exceeds the delinquency in spe-
cial assessment bond by $11,455.14.
This difference has been paid off
or absorbed by penalties, interest
and charges accruing from redemp-
ton of delinquent assessments, or,
IN other words, penalties, interest
and other charges paid off SILL
455.14 Of the $37,842.76, leaving a
net delinquency of $26 6,868.O5, or
6.57 per cent, in the special assess
ment fund, as before stated, and a
balance in the treasury of $50. O.279 "a
1or the special assessment funds.
Another method of presenting
the special assessment situation is
by comparing the total amount of
special assessments, transfers, re-
demptionS, penalties and other
items collected, with the total
amount payable for the same 10
year period.
The total collections for the spe-
clal assessment funds for the above
period were $3.50, ,780.56 The total
amount payable, or collectable. is
S4O8,824l9 The difference of Sle.-
Q43,o3 represents the amount pay
able at the end of 1930-31, in ex-
cess OF the funds collected or trans
!erred. However, inaSmuch as de-
hnquencleS do not occur until the
year following the assessments. all
redemptions for the present fiscal
year accrue to prior assessments
Redemptlons for the first half of
the current year amount to So. 1885
ana The. total for the year may be
estlmated approximately at double
the amount, or $7,597.78.
Adding the $19,O43.63 of excess
payable, to the $26868.05 of total
transfers, and deducting the present
years estimated redemptions, we
OBTAIN the result of $38,313.90 or
9.37 per cent, as the average net de-
linquency, which conforms CLOSELY
to the 9.27 per cent taken from the
delinquent assessment roll. Neither
the credits prior to 1928-29, nor
future credits accruing to these as
sessmentS have been considered,
since they are not determinable at
this time, but will equal three to
four per cent, and the actual net
delinquency can reasonably be ex-
pected not to exceed the $50 per
cent.
1T must be borne in mind that
the transfers of SIG, 6,86805 from the
general fund to the special assess
ment funds are loans, and must
be paid back to the general fund.
The loans are secured by the entire
value of the delinquent properties
in accordance with the amount of
their respective assessments, and
they may be sold to recover the
amount of the Indebtedness.
Following paragraphs in the re-
port explain that no attempt has
been made to analyze the special
assessment situation for the first
half of the current fiscal year, as
1t requires the entire year to COM
plete the cycle of assessments and
attendant details. 1t is probably
that delinquency will be somewhat
higher for the current fiscal year,
said the report, but it went on to
quote an estimate by the city clerk
that delinquencies will be consider