Show THE CITY 18 DEBTS now that there la Is a ray of hope that the conservative citizens of salt lake those who bear the burdens of MU municipal DIC taxation will be given heed to in the conduct of city affairs afi aire it is in well for them to look the situation squarely in the face and determine what course will be best beat to pursue there bas baa been a great deal said about the present condition of city finances and the impossibility of running another year without greatly increased taxation except by creating a very large deficit elf but we are in a flourishing condition cou compared to the appalling state into which the next decade will plunge us unless great care and judgment are exercised today the be bonded indebtedness of the city is iii bearing an interest inte reet of annually the past years ad administration nal taint ration cost coat including I r interest on bonds or more than in elop s m of its ite receipt the estimates osti mates for 1896 show an apparent deficiency of the first lot of bond calls for a sinking sink iniz fund reserve of per year after 1898 and the whole lot will ne be on the 10 per cent reserve basis after 1904 the amount rt received by the city from properly pr opery taxation at the present rate id or e lu lutt luit tt about what the deficiency fur for 1896 is estimated to be to meet the latter and keep even under the pro proposed prop peed sed econom economical procedure will require the property lax ax to be doub doubled leti up on its present figure and what property bolder is ready to welcome wt that proposition and keep the rate up from year to cesi then after three years of this doubled taxation comes the reserve fund operation on the 1888 bond per anam for their daymen pay men three hearp later an additional or on the 1891 bondi ono one ver vear more and there la in added ba on the 1892 bond and two deais thereafter oti on the 1894 bonda tave in leea it lhnn toti ten years from now or by 1905 there must be raised annually tor for the it kirg funds fundis on twins besides the th interest making a total of per year to be collected entirely outside of regular municipal ex to meet these obliga tinne on the ec basis of the estimate for 1896 which i Is a hundred thousand th usand dollars below bielow of 1895 will require a adal ton ion of three ano a be bal times the brement property tax this besides the doubling dou bline up referred to so BO thattie that the property owner will have to pay five and a half times as an much as aa now that isi it if he be la Is paying 10 it in cly ally taxes nw now hie big by 1905 must ad ada 1 four anti anil a half times that amount and he must pay 55 or of if in 1896 the cue exper 48 4 8 1 are out cut anointer below 1895 5 and are kept at that thai for ten years the property bolder will be paving 45 city tax where he now pays paya 10 and considers himself heavily burdened buru ened these figures figurea partly lift the tell from ff what we are coming to in salt bait Lake city unfortunately they reveal only the certain certainties alea and all variations variation will but make the burden heavier within the next ten years and for a long time thereafter salt ball lake property owners must pay very dearly for the whistling of the city administrations from 1890 to 1895 1395 such a condition does not appear encouraging cou raging for present or prospective owners of real estate and will go a 9 very long way toward preventing the investment of capital here herein to that class claes ot of property I 1 ibis his calculation is based on the contract to fulfill fulfil bonded obligations as ae they ibey become due by clearing off the debt anere is one way to meet the case and that la is by issuing boude bonds to day one lot after another as soon as they become redeemable and in lose lees than the 20 year limit but that i merely a prolongation of the be bondage A u debt though it to is probably the only course to pursue to protect the people from being taxed out of bouse aej DJ home bome the burden can be light ened somewhat by a sweeping reduction in current municipal expenses a relief which it to is hoped the city council will give at once the cost of administration be out cut down at least to the point that there shall hall be no deficit fur for 1896 and it if possible to show ft a little gain the irbe people never will be content with mayors or city councilors councillors counci lors until the abe city is placed on the nail to a better financial situation |