Show OVERDRAFTS BORNAl BORN f fAT AT Al AT FURIOUS RATE 5 I Council Counci Creates Three in iii Rapid Juggling of City's Funds MUST PAY CONTRACTORS I i Bond Money Maley Exhausted and Revenue Accounts Drawn On to Fill Fil Hole How to break breal all al records at creating oy overdrafts by p paying cut current rent was wa demonstrated at a meeting of the thc city council counci last night when the finance committee recommended e that certain contractors be paid from revenue rev rev- fun funds funda B for work worl done one under the tile bond issue The Tho finance committee recommended recommend recommend- ed el that James Kennedy be paid pall for l laying a sewer and Pat Moran he paid for tor another estimate on the time bl big water 1 in l' out nut of the general funds In the cit city issued 1000 i I MI worth wor ot bonds londs to extend the time sewer nn and s systems st ms an and this mone money has already b been en exhausted v. v with still outstanding The recommendation of the finance jugglers s jugGlers last nl night ht was that Kennedy be bo pal paid 54 for tor work werle on the In Intercepting In- In sewer out of the sewer an and 1 drain fund 1 which la is essentially a 0 general general gen gen- eral oral revenue fund Since Since the city treasurer on February 18 reported that tha there was only 0 OJ In this fund fun the overdraft cra created te 1 Is at once ap apparent lp- lp parent parent 5 Fund Exhausted el The Time committee also recommended ld that Moran be bo pal paid 1585 51 1 out of ot the waterworks fund since the bond fund fun from which payment should have been made is exhausted On February 18 15 1 the treasurers treasurer's report shows that there was 45 In the waterworks fund fun and If I Is taken talen from it there then thereS S will sill wil be another r o er overdraft Both accounts should have hive been pal paid out of the bond fund but ut that Is a aS athing a S thing thins of or history and amid cancelled canceled w warrants KO so the finance committee had to scout around for some sonae place to grow gro over oyer- drafts A mater of ot was from the street fund to the tho cre credit lt o ot of various extensions and as ns then S only in imi the tIme street fund February I nr ary 18 the tIme impossibility of such a aS S manifest transfer without an overdraft Is quite quit G radon Grades Finished The Time board boar of or public works ha has rec- rec ommen e 1 that S. S S Birch and JONell J. J p P. ONell ONeil ONel be paid for certain work on sidewalks sidewalks side side- walks but the council committee o on streets recommended 1 that the report be rejected because neither Birch no nor ONell ONeil ONel had complied compiled with their con con- tracts The Time committee also recommended mended e 1 that the time final estimates bo be held I up until the time contractors do comply with the time contract In iii tho the matter mater of or grading gradinG and completing flumes S The Time committee of or tho the whole reported report report- 4 ed cd tho Raleigh lv Investigation up to the council but It was passed until Monday Monday Monday Mon Mon- day when nhen a Is quite likely |