Jasper County Democrat, Volume 6, Number 33, Rensselaer, Jasper County, 21 November 1903 — BAD FINANCIERING. [ARTICLE]

BAD FINANCIERING.

Present City Council Has Hade An Unenviable Record. Few people in the city perhaps realize the financial condition that the present profligate city council has brought Rensselaer to. At this writing there are protested city orders outstanding in the corporation fund amounting to over $2,000. The road fund is overdrawn nearly SI,OOO, and the council has recently borrowed $7,200 in the Electric Light Improvement Fund, issuing therefor four city orders of SI,BOO each and bearing 6 per cent interest, payable semi-annually. These orders fall due as follows: No. I, on July 1, 1904, Jan. 1, 1905, July 1,1905, Jan. 1, 1906. The city will receive no money from taxes until January, and by that time, when many other bills will come in, the finances will be in much worse shape than now. The city’s old debts in addition to the above and unpaid are as follows, as we understand: Blectrie light and water plant mort... .135, CM Water bonds 9,900 School Bond* 8,000 Total ..,.160,900