Proceedings 1896

Cover Proceedings 1896
Proceedings 1896
Conference for Good City Government. [from Old Catalog]
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The debt of Springfield is £1,944,500, of which amount, £1,625,000, is for the water works. Money will be borrowed with which to build the new high school-house, but with this increase the debt will be only a little more than £2,000,000, and will remain far within the borrowing limit of the city, which is, under the statute, two and a half per cent, of the valuation, ex- clusive of the water bonds. The credit of Springfield is very high ; its temporary loans and bonds are always in demand, and
...were placed last year at rates which netted the lenders only from three and one-eighth to three and one-half per cent The as- sembly of the State of New York has recently passed a bill per- mitting the savings banks of that State to invest in the securi- ties of Springfield.
These were some of the principal items of municipal ex- pense last year, which may be regarded as an average year because there were no extraordinary outlays. For the city library £24,000 was appropriated, which is about the amount given each year in order that the library, which is an excellent one, may be free.


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