of not less thanper cent. of the amount of such debt; for a debt payable in twenty years an appropriation of not less than Aper cent. of the amount of such debt; for a debt payable in thirty years an appropriation of not less thanper cent. of the amount of such debt; and for a debt payable in forty yearsan appropriation of not less than IJ per cent. of the amount of such debt; provided however that said commissioners shall Ralph Lauren Outlet Online when other payments have been applied or transferred to the sinking fund of any debt require for that sinking fund an appropriation less by the amount of such payments than they would otherwise have required. In the sinking fund requirements were met by an appropriation of At the present time Nike Shop the financial situation of Baltimore is of peculiar interest; not only because of the unsettlement occasioned by the fire but because of the extensive improvements which an enlightened civic spirit demands for the increasing needs of a greater municipality.The total revenue of the city for the year ending December was Of this taxation yielded ; licenses; franchises; special assessments; Polo Outlet Online fees and fines; quasiprivate receiptsThe tax on general property yielded more than while the tax in arrears including interest yielded The tax on securities yielded onlyIncluded in quasiprivate receipts were taken from the The North Face Outlet Western Maryland Railroad special funds for the Burnt District Commission. Water rents yieldedThe total taxable basis of Baltimore is approximately The borrowing capacity of the city has no legal limit The North Face Outlet Store but before a loan may be issued the legislature must pass Nike Free an enabling act; the council must enact Nike Max Air an ordinance and the proposed loan must be approved North Face Outlet by a vote of the people. Though there is no legal limit to the possible debt contracting power of the city the policy has been adopted of limiting the net Polo Ralph Lauren Outlet funded debt toper cent. of the whole taxable basis in order to conform to the New York law which allows saving institutions to invest in only such municipal bonds as conform to this proportion. According to this rule Baltimore may have a net funded debt of about Sooo.ooo. The total funded debt is ; deducting the amount in the sinking funds; invested in the water works; cost of the electrical subway; and other items amounting to ; the net debt of the city is The city may therefore contract a further debt of about A loan of for dock improvements has been authorized but not yet issued. At the May elections a park loan a loan for street improvements in the annex and rooooooo for a sewerage system will be voted for. Even with these loans authorized the city will still be within theper cent. limit.The problem however is how to float these loans without increasing greatly the burden Nike Max Air 90 upon the taxpayer. It is obvious that with a general property tax of . \l/per hundred dollars and a state tax of %.yAper hundred dollars Baltimore is no condition to stand greatly increased taxation. It does not seem necessary however that there should be a heavy burden upon the taxpayers. The do!k improvement loan will be met by rentals of the docks; the park loan by the park tax from the car company which isper cent. of the gross receipts of the company ; Nike Argentina the annex loan will be met by an increase in the taxable basis Ralph Lauren Outlet in that part of the city and by the contemplated improvements. There remains then the sewerage loan. This loan will probably be issued in five North Face Outlet Store years' installments so that the city will not have to bear the full amount until the end of this period. It is not too much to expect that at the end of that period the increased taxable basis will fully meet all the necessary interest and sinking fund requirements. Nike Free Run Furthermore permission will be asked of the legislature to levy if necessary a reasonable sewer rate upon the houses connected with the