Salt Lake Tribune | 1896-06-14 | Page 5 | City Interest Payment

CITY INTEREST PAYMENT WILL NEARLY DEPLETE THE MUNICIPAL TREASURY plans for or the new rire lire building on exhibition will wih bo be a two story structure building permits on july lat next the city must pay out for or semiannual semi annual interest Inter cut on bonds and after the money goes to new york there will be very little e cash it me loft in the cites strong box boon 0 n june lat according to the statement of CRY city auditor swan sivan there was waa a balance of 0 66 in the treasury trea iury and as a this has increased some during the month there will mill be no lack of funds to pay t the b e interest due july city treasurer slay may will send the money to new york about it week before tho the end of tile the month this interest payment la Is on three be separate parate issues nil all at 6 5 per cent tho the first Is that of january 1 1891 of the second july 1 1891 of and the third july 1 of a total of the interest on which falls due on the lt day ot of january and ast alst of july of each year the total bonded debt of the city Is on which the annual interest Is the next interest payment falls falli due in september amounting to after which there m will not be another until utter filter the taxes tates aro collected tho the finance committee will probably have to do some engineering to provide for the th september payment but after that tile revenue from taxes will answer all demands upon the treasury tile the oldest bond loue isue Is 1 that of amounting to the these are 1020 2020 10 20 20 bonds and in the city mut must start it a sinking fund to provide tor for their redemption demp tion ten years later