Henderson daily dispatch., 1937-06-07
NO THE CITY COUNCIL AND THE
~ CITIZENS OF HENDERSON:

no THE CITY COUNCIL AND THE
CITIZENS OF HENDERSON:
AL begin my term as mayor of the
49,, II Henderson, 1 am profoundly
,t.ful to the citizens of Henderson
me honor which they have con-
f.re5 upon me by electing me to the
,ffice Of mayor. 1 will at all times
I've to merit the confidence which
,ou nave placed in me.
assure the members of the board
&c aldermen that it is indeed pleas
,,ro 70 be associated with them. 1t
has been my privilege and my pleas
mo 10 serve on the board of aldermen
Nth four of the present board in the
nost and 1 have known and respected
me other four for many years. It is
NV hope that we can cooperate IN
e,ery way to advance the interests of
no l,jty of Henderson. And 1 assure
,.ou that you will at all times find
me ready 10 cooperate with you.
Finances.
The greatest problem confronting
tho CITY of Henderson today is the
condition of its finances. And l wish
- make ii clearly understood that the
ramarks | make here are not intend
81 as and should not be construed as
criticism OF any person or group of
rsrsons. but are offered solely to ac
nnqint the people of Henderson with
= true picture of the citys finances.
For several years in the past our
eity has. after collecting the taxes and
ether income to the fullest degree
nossible been unabla to balance its
income and its expenses. The result
i that our city is today about one
war behind III its finances. There is
IN the First National Bank a note in
the sum of $4,000, which was first
issued in 1886 in anticipation of reve-
nue. to be collected IN the fiscal year
closing this month. But despite the
fact that our taxes have been collected
unusually we'll during this fiscal year
il will be impossible to pay this note
off from this years revenue, as in
sufficient tax was levied to care for
the same Thus we are confronted
with the necessity of caring for this
item in some manner. We also will
find our city faced with a Floating
debt III tue SUM VI dUOul PA@,ONO VA
lime 80. 1897. The floating debt" is
made up Of current bills, unpaid APP
propriations, and work already con-
tracted to be done, and the known ex-
nenses of the work around the under
pass. This debt is on our hands be-
cause more money was spent than the
budget undertook to raise from taxes
and our other income. Thus We must
raise this money which also has a.
ready been spent. And in addition
there are certain other contingencies
which may raise this figure few
thousand more, but nothing definite
can be said about that at this time.
We are also faced with the problem
Of paying $4,000 in bonds and S.
58125 in interest on July 1, 1887 and
there are no funds on hand to meet
this obligation. This is caused by the
fact that at the time our bonds were
issued many of them were issued to
fall due on July 1 of each year, at
time when, of course, the city had no
funds to meet them unless the funds
had been collected from the revenue
of the previous year. Lately it has
not been the practice of the city to
collect the revenue in the previous
year, but rather to wait until the
bonds were due and then borrow the
money to pay the same from the
banks until the money could be col
lected from taxes in the fall of the