MATURITY OF FUNDED DEBT. Payment of bonds, provided for by Sinking Fund, viz.: Bonds already issued and those authorized to be $400,000.00 $1 260,000.00 I desire to call the attention of your honorable body to the above tabulated statement of the annual maturity of the bonds of the City of New Haven, already issued and including the following to be issued, viz.: Pavement bonds $250,000.00 65,000.00 50,000.00 You will note that sinking funds have been established for the retirement of $250,000 7% sewerage and $150,000 municipal bonds-$400,000 in all. By the annual deposit of $5,000 to each of the above sinking funds, the City can pay the $150,000 of municipal bonds on July 1, 1897, with a surplus to the credit of the City of about $10,000. The sinking fund for the 7% sewerage bonds will undoubtedly show an equally good result. The Special Acts of the General Assembly have authorized the City of New Haven to issue $250,000 street pavement bonds, completing the original amount of $500,000, and may also authorize the issue of an additional amount of bridge bonds. The amount to be paid in future years, and unprovided for, is To which is added balance of pavement $1,260,000.00 250,000.00 50,000.00 $1,560,000.00 The payment of these bonds at maturity can be provided for in three different ways, viz.: 1st. By an annual appropriation deposited with the Commissioners of the Sinking Fund. 2d. Refunding the bonds for a longer term of years. 3d. Increase of rate of taxation, or decrease of expenditures for police and fire protection, and also decrease of amount appropriated for public improvements, All of which is respectfully submitted. BENJAMIN E. BROWN, DECEMBER 1, 1896. City Auditor. |