Report of the Joint Legislative Committee for the Investigation of the Finances of the City of New York

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Seite 31 - January 31, February 28, March 31, April 30, May 31, June 30, July 31, August 31, September 30, October 31, November 30, December 31.
Seite 9 - Those authorized in the year 1916 shall be paid for, onehalf by the issue of corporate stock maturing as aforesaid. The remaining one-half of the cost of such improvements shall be paid through the medium of a one-year bond payable from the next annual tax budget. (c) Those authorized in the...
Seite 8 - Resolved, That the Board of Estimate and Apportionment hereby declares that It will pursue the following plan in financing public improvements : (1) The cost of all improvements of the revenue-producing class, such as rapid transit, docks, railway and water terminals, and water supply, shall be defrayed by the issue of 50-year corporate stock as heretofore. (2) The cost of all permanent improvements, other than those of the revenueproducing class, hereafter authorized by this Board, shall be financed...
Seite 6 - ... associations to protest that the last budget creates a tax crisis. In this view the Committee coincides.
Seite 9 - ... (c) Those authorized in the year 1917 shall be paid for, one-quarter by the issue of corporate stock as aforesaid. The remaining three-quarters of the cost of such improvements shall be paid through the medium of a one-year bond payable from the next annual tax budget. (d) The foregoing statements of policy contemplate...
Seite 20 - ... prefer, that will be eliminated. I thought that perhaps the Senator from the 35th would — (interruption) but in any event it is a part of the Mayor's program and part of the plan of the Tax Reduction Committee and the Brown Committee, and if that is passed then we are in honor bound to provide for the regulative expenses of the Public Service Commission of the First District, estimated at least six hundred thousand dollars. Now, of course, I have been of opinion that those bills which relieve...
Seite 9 - York as a part of the proposed loan of $100,000,000 shall be retired by issues of corporate stock, the corporate stock so issued shall mature as provided in clauses (a), (b) and (c) of paragraph 2 of these resolutions. (4) The cost of public works already authorized, whether under contract or not, but in respect of which new bonds are to be issued, is to be financed in the same manner as above provided, with the exception of the cost of revenue-producing improvements...
Seite 20 - Bill conferring on the city power subject to referendum to fix the salaries of its officers and employes other than judicial officers. Bill placing county expenses, including salaries, subject to referendum, under control of the city. Constitutional amendment making county bills in the City of New York, city bills. Bill or bills giving control of all expenditures by the water supply board, court house board and First District Public Service Commission to the city government.
Seite 4 - ... consolidation was 3,337,000. By the State enumeration of 1915, there is a population of 5,047,000, an increase of 50 per cent. The debt of the city is classified as exempt and non-exempt. The exempt debt has been incurred for water supply and other revenue-producing improvements, and is not restricted by the constitutional debt limit of 10 per cent, of the assessed valuation of real property. Other debts, with certain exceptions, which will be later referred to, are restricted by this limitation,...
Seite 7 - ... which to pay taxes, and a sliding scale adopted for three years, so that January 31 and July 31 will be the last days for the payment of taxes in 1920. The annual interest charge for these loans has averaged three and a half million dollars. The total amount paid in the last ten years is $36,470,837, or substantially $5,000,000 more than the city has paid during the same period in direct State taxes. To this amount, lost to the city through a system of discounting substantially all of the taxes...

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