City Documents Of The City Of Newport For The Year 1911 Classic Reprint

Author : Newport Rhode Island
Publisher : Forgotten Books
ISBN 13 : 9780331532623
Total Pages : 720 pages
Book Rating : 4.5/5 (326 download)

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Download or read book City Documents of the City of Newport for the Year 1918 (Classic Reprint) written by Newport Rhode Island and published by Forgotten Books. This book was released on 2017-11-20 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from City Documents of the City of Newport for the Year 1918 When the period of readjustment is over and normal times and conditions return, there should be imposed some legislative check on municipal expenditure. Some relief might be afforded by the passage of a so-called tax-limitation law, providing that the taxes levied by a political division should not exceed those of the preceding year by more than a given percentage, say five per cent. Except in cases of emergency; that the question of the existence of an emergency be determined by some independent body; that in case of emergency an increase in taxes not to exceed, say, 15% be allowed; and that any increase beyond the limit last named be ratified by referendum vote within the political division concerned. If the budget be adopted as proposed and retrenchment or curtailment is found not practicable or possible, it is evident that the revenue of the city must be considerably increased to meet the new and required demands. It is intended to raise by the issuance of Serial Bonds. An examination of the various items making this total of opens up this method to just and serious criticism. Bonds, serial or sinking fund, occupy a very useful and proper place in the field of municipal finance. Improve ments of a permanent nature may very well be the object of a bond issue, and it is fair and just that the future be required to bear a proportionate part of the burden provided, however, that the maturing date of the bonds be not extended beyond the life of the improvement bonded. It is proper in such cases that the people of the future should bear the burden as well as reap the benefit. But to issue bonds to cover the current expenses of a city, to meet an overdraft, to purchase a new street sprinkler and a new tree sprayer, and to construct a new bin at the Crusher Plant deserves no better title than that of financial camouflage. It is a conspicuous indication of poor government, of poor business methods, and is without excuse or justification, except in cases of calamity or disaster. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.