Show City Council Asks I For Your Support I t t The present city cUy council upon taking office January 2 2 1950 were faced at the I outset for tor a indebtedness or obligation in the form of ot unpaid Tax I Anticipation Notes which indebtedness I I was due and pending At this time the i city was also i faced with the need of ot an I additional loan to operate its various various' administrative functions It was felt that the city's assets were sufficient and II its Tax Anticipation payments due at the end of ot the year would certainly suffice as collateral for tor a loan I But the city fathers were due for a rude awakening from a banking standpoint sTand- sTand point the banks considered Park City Municipal Corporation a a. poor credit risk since they could not liquidate any part of or the and continue business as usual All the known methods of financing were tried and all banks battles in la Salt Lake City as well as reliable bond- bond bondIng bondIng bonding Ing houses were presented with the problem and all methods of ot liquidating the were carefully reviewed The Tho final results of the matter of at liquidating the was solved t through the medium of the the State Fi- Fi Finance Finance Finance 1 nance Commission paying off ort the bonds at the bank and Park City Corporation agreeing to repay the state in n regular annual payments plus a reasonable rate of Interest the present administration has kept its promise with the state and have succeeded paying oft off of the Initial amount this matter Itself was a great worry and was in itself an accomplishment Another problem presented itself again and that was borrowing 00 to run the city pending its taxes at the end of the year This too met with a cold shoulder The cities assets were sutri- sutri sufficient sufficient for the loan but again the city fathers met with a a. cold and polite no The sum and substance of the matter I was a polite implication that the records I indicated poor business acumen this to toa toa a a. group of ot city fathers that had not as asyet asyet asyet yet had a chance to see what was wrong but again this was solved when Mr Floyd Williams representing the First National Bank of at Coalville came to the rescue Since this money was borrowed the I city fathers have repaid this loan plus I Interest as well as borrowing an addi addi- additional additional tion l and repaying same I Other accomplishments made was the I purchase of ot a T D tractor tra tor total cost of of which they have paid I off ort resulting in a balance of ot which will be liquidated in I I two more payments I A purchase of a new gas pump for I use of o tho rho city water department to re- re replace re replace i place the antiquated system of ot balling bailing re-I re water yater out by hand This too is all paid for for I I Bought and paid for a set of ot new Geo- Geo J hones to locate broken pipes and leaks I Ito to save money from digging unnecessary j I pits j i I Applied modern techniques to all possible points where a reduction of ot time and labor could be had In order to save money They have consolidated all municipal departments under one head with the exception of the police pOll e department which means three men to take care of municipal matters such as as roads water buildings and kindred matters I A careful scrutiny is being given all departments where savings might be ac accomplished I ac-I ac- ac accomplished without too much sacrifice in efficiency to the end where ne new w equipment might bo ho purchased and to tho the end where basic confidence might be had in the financial structure of ot the city This latter problem is far on its way to to success All Tax Anticipation Bonds Ponds and notes and outstanding contracts are paid up in full V 1 I With the reduction in population from 11 1940 which was to the 1950 census N which was 2249 a further consideration I I I is 18 being given to an Income drop on the liquor and road funds which were cut one This matter was to some ex ex- ex extent extent tent balanced off orr by the raise in the mill levy Fire Insurance in n the amount of is carried on the library and nd its contents on the City hall and sad contents and on the metal I frame garage Public liability property damage fire theft comprehensive and ownership non-ownership liability Insurance poli poll policies cies des are In force torce on the various equip equip- ment The The certified public accountant in an i I I examination of the books of the city cit y I I had this to say There Is 15 apparent l I I I evidence of or the interest and desire of o f i the city officials to guard and account I for tor the city assets for tor the benefit of ot o f I the city as a whole I I I With a new year ahead we can feel assured with the addition of three ne new w councilmen councilmen Charles L. L Lloyd Fred Fuelling and George Keating that tha t new ideas or policies may offer further r Improvements in city affairs To Mr Floyd Yates Yat s and Mr William Bates who have given untiring service to their city we say Thank you for tor a Job well done don in the interest of at us all alt The strength strength of ot a city lies in th the e people that inhabit it The council feels fee is I I I that no city has the strength of this thi s mountain home area and we look for for- forward forward ward to rebuilding this town can we w e have your support and understanding in i ia n a Job that lies ahead T T. T C. C time to time further details o of ot f the government of ot the city will be pub pub- lashed Suggestions of a constructive e nature will be fully tully appreciated |