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Show MAY COST LARGE SUM ! A question has arisen In relation to the fSOO.OOO bond issue of May L 1894, of this city, whether , these bonds are for ten-twenty ten-twenty years or for twenty years straight Providing they are for ten-twenty years the city could now be saving $4000 a year, but If they are for twenty years straight the blunder of the City Councilmen who made the borrow will cost the city ID00O per year for the next ten years. Mayor Morris in his message of February Feb-ruary 10th to the Council urged that the Un-twenty years' Issue of 1548,000, July 1. 1892, and the above mentioned issue of 1894. be refunded at the earliest possible date, by the issue of like amounts at a lesser rate of interest. This has been done with the Usui bonds and the city la saving S2740 annually. But the question arises in the other Issue and it is feared this cannot be done. |