Author : William Powis
Publisher :
ISBN 13 : 9781331874898
Total Pages : 54 pages
Book Rating : 4.8/5 (748 download)
Book Synopsis Sinking Fund Tables and Instalment Tables (Classic Reprint) by : William Powis
Download or read book Sinking Fund Tables and Instalment Tables (Classic Reprint) written by William Powis and published by . This book was released on 2015-07-20 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Sinking Fund Tables and Instalment Tables On no account should permanent debentures be issued by any municipality, unless and until, permanent or everlasting works have been acquired to an equivalent value. Debentures issued for payment of land purchased for a public park, may be made permanent, not only with prudence and propriety, but with the greatest possible attending benefit to the community. I assume, that, as a matter of common sense, legal restrictions will be enacted governing the issue of permanent debentures This being done, of course property so purchased, will be required to be permanently and untransferably vested in the municipality; unless and until power of sale given to the holders of the debentures is exercised, owing to non-payment of interest. Thus the painful and shameful calamity can never happen to the inhabitants of seeing their city oases encroached upon until they grow into nothingness. The amount expended in transforming the natural land into a beautiful park, may justly and quite properly be added to the amount of debentures made permanent, to the extent of the value of the improvements that are permanent. More latitude can be allowed in the case of land, than in any other investment, because, in cities, the old saying, "res crescunt," is usually applicable to the value of land. The purchase of land of any kind by a municipality may and should be the occasion of the issue of permanent debentures. Justice to the rate-payers demands it. Nothing but land, unless there could be a municipal monopoly of air or water, should be purchased with the proceeds of permanent debentures. Buildings constructed of blocks of granitoid stone, adhered to each other by thin layers of cement instead of mortar, on an indubitably solid foundation, which might last for many centuries, might at first sight seem to warrant the issue of permanent debentures for their construction. It is far better, however, to make the debentures payable at some very long date, as nothing can be absolutely everlasting but the land. The date of payment may, however, be so far remote as to reduce the annual sinking fund to a comparative trifle. To produce $700,000 at the end of 100 years, only requires a Sinking Fund of $565.60 per annum invested at 4 per cent., payable yearly; or $268.20 per annum invested, at 5 per cent., payable yearly. 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.
