Let us analyze these figures and statements and
try to answer questions of vital importance to
every taxpayer and citizen: How badly is the city
in debt and what are the prospects for getting out
of the “red?”
One can’t blame the inquiring taxpayer for feel
ing a it confused. Two weeks ago it was an
nounced that “at the close of the current council
manic year the city will be clear of bank indebted
ness and will be in position to begin reducing its
outstanding bonded debts each year.”
A financial statement published at that time
showed that the city then owed the banks $20,
292.00. In Saturday’s Empire it was announced
that only $15,000 was due the banks, indicating
that $5,292.00 had been applied on the indebted
ness.
The aforementioned financial statement listed
among current assets the sum of $18,000, delin
quent taxes. Saturday’s statement declared that
the delinquent taxes now total $13,500, indicating
that $4,500 had been collected from that source
since the first statement was issued.
STILL “IN THE RED”
The current councilmanic year ends this week,
but instead of the city being free from bank in
debtedness we still seem to owe $15,000.
