| Show kS COUNCIL TO RAISE 3 V- V 4 BIG Bm SINKING FUND FOND lT f rr 1 ii j Ne New Tax Tax Levy to Include Prot Provision Pro Pro- t vision to Meet Payment on ft Sewer and Water Bonds LAN OF THE REFORMERS 4 l o c to tn Uso Us Act ct ct as ns E cu Excuse c for mr X Making I heavier ir thc tho Burden of V 51 r J the Taxpayer cl z J 4 i J. J t- t the city council fixes llio tax I i r Jf f probably on Jul July 30 u a provision pro l b ma made e to set sel asi aside o a portion of Increased ct for fUl the of 1 ng as levy Y or creation 4 sinkIng fund Cun to cover cr tho the sewer water ater bonds Issued in 1905 r- r wl to l understood that the American n I i 0 t- t ir irm m majority of the council will the creation n of a sinking fund tv VV th lf only nl excuse for tOl Increasing the tho t p l XII and making heavier the taxa tax- tax a t p bur burden en Tho The sinking fun fund has q l. l n b by patriotic members I of ot UJ thi td finance committee and they 1 ai are Id to have discovered In the i Idea A- A unlimited possibilities for divert divert- v ln g J he lie c minds s of the taxpayers from f yv f r tin real 1 reasons for or making the taxes J Higher l Under SUnder Un er dato data of April I 1 1905 the city Y sold 1 l to the thu Mutual Life In Insurance j fv Company of nf New York worth ot wat waterworks bon bonds s with which to toy cAt y t extend tend and arid the water te n t e. e city and 1 to Imp tin tin- fr p ove p sewer system It Is un under under- ert er- er t 1 if r- r r thai thal the sewer Improvements iM I bout about or 1001 li lI 1 O O more lh lJ n the bond Issue was x for 1 to r i 1 That Ordinance Provides At Tho fhe ordinance under th the It bonds w v e c issued pro l provides cs that th the K sI payable parable on Apr April Jl it 1925 Subject of or redemption at an any I- I f- f after fen years ears from said date dato o of f J Iss Issue c. c L and Jj bearing interest at the tho rate rat f f t four o rI 4 4 p pen r. r cent payable semiAnnually semi semi- Annually lj or on tho the first days dars of April t. t iW Teach d h year ear for Cor or the Uw re re- re Q Q which there thelo shall b be 12 JC tI annually rt a n sufficient tax to pa pay pax F P I b Interest test aw W U Jt falls due me and als also o olo j p lo con p sinking fund fun for Cor the tile of lh th e principal with within In 40 4 V 1 i n as thc net revenues re from rota J 75 shall be let tet apart ben fr JUlIg t fund nd tor the tho t i- i 7 or payment JJ m.- m. thereon J. J c l the lie pr sont UI the J PAr D m Isman- Isman f se l JItter wa wa out of the thee t J Jl z e n a sin hi ng fit fun rid fe fei i pi s 's s n. n fd ju J. J portion of tho the tax v yo bonds when the they fall fail hI rn t t b ears frs o or any time f hI r jt at ut-is- ut l f-l 1 oily nu tILl 1 h money money money-In In tho ue of bonds bo ho redeemed to escape the tho payS payment pay pay- S ment of four per cent interest i to tu l Figure 1 UIe It It- The cit city council has employed an expert accountant for 1000 to go I through the figures of the 1 1905 Oj sewer ewer S and water waler bon bonds s issue and atHI ascertain ascertainS S what portion of the lev levy will be LIe rei required re re- re- re i to raise a 0 sinking fund un an and also to obtain general information on onS S all of the outstanding bonds amounting amount mount mountIng ing lug to The figures wilbe wilt wil c be he r ready a y In time to fix the tax lax lev levy S nn and will have ha great gleat bearing on the thet t fixing of the sinking rund fund lev levy j i The fhe tax lev levy in Salt Lake City Cily is 11 mills and it Is generally believed S I that this will viiI be lie Increased Increase to 13 or orS S t perhaps more I If the tue sinking fund und leIs le levy is consi considered red Anyhow the rate of or S taxation will be increased JI hea heavily |
