This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 Excerpt: ...Balance, 31 Dec, 1908 2,671,342.10 7 783 942 10 Balance, 31 Bec, 1907 2,573,642.10 20. Principal of City Debt 5,210,300.00 7,783,942.10 10. Interest Payable to Sinking Funds. 23. Interest on the City Debt 495,473.83 22. Interest on the City Debt 495,473.83 11. Interest Payable to Registered Bond Holders. 23. Interest ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 Excerpt: ...Balance, 31 Dec, 1908 2,671,342.10 7 783 942 10 Balance, 31 Bec, 1907 2,573,642.10 20. Principal of City Debt 5,210,300.00 7,783,942.10 10. Interest Payable to Sinking Funds. 23. Interest on the City Debt 495,473.83 22. Interest on the City Debt 495,473.83 11. Interest Payable to Registered Bond Holders. 23. Interest on the City Bebt 505,696.40 Balance. 31 Dec, 1908 31,040.70 536,737.10 Balance, 31 Bec, 1907 30,475.25 22. Interest on the City Debt 506,261.85 536,737.10 12. Interest Payable to Unregistered Bond Holders. 23. Interest on the City Debt 614,636.18 Balance, 31 Dec, 1908 62,751.18 677,387.37 Balance, 31 Dec, 1907 61,125.05 22. Interest on the City Bebt 616,262.32, 677,387.37 The Sinking Fund. The sinking fund of a city is a contract entered into with the purchasers and holders of all long term city bonds redeemable by sinking fund provision, and the annual installments and pledged revenues stipulated in the scheme of accumulation to amortize or secure the redemption of said loans obtains as an immutable agreement until the last bond issued under the provisions of said sinking fund matures and is paid. A city may operate two or more sinking funds simultaneously, each related exclusively to a distinct class of bonds issued thereunder; as, for instance, "Sinking Fund for the Redemption of Water Construction Bonds," or "Sinking Fund for the Redemption of Bonds Issued for the Construction of Bridges," or any other specific class or series of loans for the redemption of which particular revenues may have been pledged, which in each instance will form as distinct a contract and apply as exclusively to its related loans as if it were the business of a different municipality. On the other hand, a city may establish a perpetual sinking f...
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