The Extension of Municipal Activities And Its Effect On Municipal Xpenditures I
The Extension of Municipal Activities And Its Effect On Municipal Xpenditures I
William Ambrose Prendergast
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By this is meant the interest on outstanding bonds and notes of all kinds, the interest on notes to be issued during the year in anticipation of the collection of taxes, also the interest on bonds issued for subway "purposes on account of lines which have been put into operation, but the rev- enues from which operation are not sufficient to pay the city's interest charges, and also the interest on special revenue bonds, the principal of which will be discharged from the succeeding year's tax le...vy. 3. The amortization installments to be paid into the sink- ing funds. These are the annual payments the city must lay aside in order that the payments and the interest earned by them will be sufficient to meet bonds at their maturity. 4. The sums necessary to pay in full bonds for which no sinking funds have been provided. These are almost entirely bonds issued by the smaller municipalities and the towns and villages which were merged in the Greater New York. Also bonds issued prior to consolidation by the different counties which are within the boundaries of New York City.
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