USA > Massachusetts > Middlesex County > Somerville > Report of the city of Somerville 1959 > Part 5
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10,948.29
Stump Cutter
3,195.00
Compressed Air Equipment
979.00
Service Truck
3,097.38
Motor Pick-up St. Sweeper
11,900.00
Pick-up Truck
1,974.24
Snow Fighter & Truck
4,000.00
$36,743.91
Public Works Department Mtnc. Public Works Building
Personal Service:
Janitors' Salaries
$15,097.86
Labor
$18,413.52
Carried forward
$498,407.79
$33,511.38
83
CITY AUDITOR
Expenses Outlays
Brought forward
$33,511.38
Ordinary Maintenance:
Light
3,346.16
Fuel, Gas
8,965.14
Janitors' Supplies
3,091.73
Repairs to Bldg. & Elec.
302.84
Hardware & Materials
8,120.57
Furniture & Furnishings
1,381.82
Heating & Plumbing
923.32
Auto Allowance
400.00
Office Equip. & Mtnc.
2,144.95
Telephone
2,162.65
Tools & Supplies
1,265.49
Rent of Water Cooler
282.00
Dues
11.00
Exterminating
25.00
New Incinerator, Fuel
260.40
$32,683.07
$66,194.45
COMPENSATIONS AND PENSIONS
Workmen's Compensation
Ordinary Maintenance:
Compensation for Injuries
35,118.35
Medical Attendance
6,953.50
Stationery
49.60
Mattress & Transportation
130.00
$42,251.45
$42,251.45
Pensions
Ordinary Maintenance:
Treasury
1,274.73
Building
44,550.83
Police
116,059.65
Fire
156,916.04
Engineering
8,562.88
Sanitary
44,083.61
Highway
52,013.86
Welfare
5,454.76
School Teachers
30,685.95
Water
27,033.10
Retirement Board
2,782.77
Electrical
4,187.13
City Clerks
4,160.00
Weights & Measures
2,689.00
Health
1,430.00
Survivor's Benefits:
Building
2,993.50
Engineer
1,590.29
Carried forward
$506,468.10
84
ANNUAL REPORTS
Expenses
Outlays
Brought forward
$506,468.10
Police
2,102.65
Water
1,269.97
City Clerks
875.16
$510,715.88
$510,715.88
Retirement System Expense Fund
Personal Service
$11,726.80
Ordinary Maintenance
$2,650.00
Equipment
$570.00
$14,946.80
Tax Titles Loan
Tax Title Loan
$325,000.00
$325,000.00
Retirement System Deductions
Som. Retirement System Ded. $10.85
$10.85
Pension Accumulation Fund
Ordinary Maintenance:
City's Contribution
$152,997.16
$152,997.16
Annuities
Ordinary Maintenance:
Police
$28,053.44
Fire
19,970.00
$48,023.44
$48,023.44
MUNICIPAL INDEBTEDNESS
Interest
Ordinary Maintenance:
Temporary Loans:
Anticipation of Revenue
$42,553.48
General Loans:
Sewer Loan-1934
225.00
Chapter 44-Sewers
966.25
Water Meter Loan 2.2%
2,585.00
Municipal Garage # 1
8,800.00
Public Works Building #2
400.00
Municipal Relief 1.2% ...
540.00
Public Works Equipment .. 2,362.50
Veterans' Housing 11/4 %
1,800.00
Carried forward $60,232.23
85
CITY AUDITOR
Expenses Outlays
Brought forward
$60,232.23
Funding Loan
20,655.00
Transit Assessment
987.50
Elementary School-1955
25,450.00
Stadium Loan
3,105.00
Veterans' Housing 13/4 %
393.75
Municipal Off-St. Parking
5,760.00
Municipal Relief-1958 ..
5,500.00
St. Constr. Perm. Pave. Loan
4,420.00
Macadam Pave. & Sidewalk Loan
1,820.00
Munic. Garage #2-2.4%
1,740.00
Real Estate Refunds
2,917.06
Incinerator
26,325.00
Public Works # 1
237.50
Sewer Loan-1937
178.75
$159,721.79
$159,721.79
Reduction of Funded Debt
Ordinary Maintenance:
General Loans:
Sewers
3,000.00
Elementary School 1955 ...
25,000.00
Munic. Off-St. Parking ....
30,000.00
St. Constr. Perm. Pave. Loan
20,000.00
Transit Assessment Loan ..
79,000.00
Veterans' Housing 13/4 %
5,000.00
Public Works #2-1954
6,000.00
Public Works Equipment .. Sewers 1934
1,000.00
Macadam Pave. & Sidewalk Loan
20,000.00
Veterans' Housing 1 1/2 %
30,000.00
Funding Loan
90,000.00
Municipal Garage #2
5,000.00
Water Meter
15,000.00
60,000.00
Elementary Schools-1953 Public Works #1-1954 .. Sewer Loan-1937
19,000.00
2,000.00
Municipal Relief-1954
45,000.00
Munic. Garage #1-1952
35,000.00
Stadium Loan-1953
10,000.00
Incinerator 1958
15,000.00
Municipal Relief-1958
125,000.00
$665,000.00
$665,000.00
WATER WORKS
Public Works Department Water Maintenance
Personal Service:
Commissioner
6,050.00
Clerks
22,405.77
Carried forward $28,455.77
25,000.00
86
ANNUAL REPORTS
Expenses
Outlays
Brought forward
$28,455.77
Asst. Superintendent
6,591.92
Meter Readers
34,148.16
$69,195.85
Labor
$132,845.98
Ordinary Maintenance:
Telephone
562.07
Carfare, Auto Allowance .
436.80
Hydrants & Fittings
2,455.16
Pipe & Fittings
32,957.13
Meters & Fittings
2,529.38
Tools, Equipment & Mtnc.
6,281.24
Truck Mtnc. & Supplies ...
8,407.70
Replace Mains
15,120.00
Rent Water Main- -
B. & M. R. R.
6.00
Telephone Allowance
52.00
$68,807.48
$270,849.31
Water Meter Loan
Water Meters
$2,873.89
Materials & Supplies
11,257.47
Service Boxes, Main Gates
650.20
$14,781.56
$14,781.56
OTHER ACCOUNTS
County Tax 1959
Middlesex County Tax
$458,765.32
$458,765.32
Federal Grant School P. L. 874
Kitchen Equipment
1,870.64
Stationery-Cafeteria
5.52
School Contingent Payroll
3,675.00
School Teachers' Salaries
100,000.00
Service of Staff Administrator
400.00
$105,951.16
$105,951.16
School Grant-Public Law 864
School Supplies
1,130.35
Stationery & Supplies
115.92
Desks, Chairs, Cabinets
1,155.21
Subscriptions
80.00
Sound Projector & Screen
524.68
$3,006.16
$3,006.16
87
CITY AUDITOR
Tax Possessions
Expenses
Outlays
Tax Possessions: Refunds $100.00
$100.00
Temporary Loans
Temporary Loans-
Anticipation Revenue
$4,300,000.00
$4,300,000.00
State Taxes & Assessments
Auditing Municipal Accounts
$746.18
Retirement System
3,207.51 127,060.45
Metropolitan Sewerage Tax
327,941.03
Metropolitan Water Tax
265,327.12 1,060.97
Boston Met. Dist. Expenses ...
Met. Transit Authority Def.
802,748.00
Met. Transit Authority Red. of Principal
42,867.32
Smoke Inspection Service
1,677.35
$1,572,635.93
$1,572,635.93
Sale of Real Estate
Sale of Real Estate
........
$7.69
$7.69
County of Middlesex
County of Middlesex Assessment for T. B. Hospital $162,599.81
$162,599.81
County of Middlesex Dog Licenses
Dog Licenses
$3,664.50
$3,664.50
Teachers' Retirement Deductions
Retirement Deductions Paid to State
Refunds
$168,707.95 18.66
$168,726.61
Payroll Deductions for U. S. Savings Bonds
Bonds to Employees
$18,806.25
Refunds
181.96
$18,988.21
$168,726.61
$18,988.21
Met. Parks Assessment
88
ANNUAL REPORTS
Deposits
Expenses Outlays
City Clerk's Deposits
423.00
Highway Deposits
1,800.15
School Deposits:
Registration, Tuition
481.00
Books
1,289.00
Forfeited Fees, Books
701.67
$4,694.82
$4,694.82
Reimbursement Disability Assistance
Reimbursement Disability Asst. $452.14
$452.14
Employees Group Insurance
City's Contribution
$1,247.50
$1,247.50
Payroll Deductions for Insurance
Payments to Insurance Co. ....
$1,008.96
$1,008.96
Employees Group Insurance
Employees Contribution to In- surance Company
17,481.08
Refunds
5.00
17,486.08
$17,486.08
Group Insurance Dividend Account
Insurance $13,859.42
$13,859.42
Federal Tax Withholding
U. S. Government
$1,222,884.02
Fefund
58.14
$1,222,942.16
$1,222,942.16
State Tax Withholding
State Withholding ..... $73,934.19
$73,934.19
Blue Cross Deductions
Payments to Blue Cross
$157,424.99
Refunds
411.59
$157,836.58
$157,836.58
89
CITY AUDITOR
Athletic Receipts
Expenses
Outlays
Ordinary Maintenance:
Transportation, M.T.A.
1,461.30
Services at Games
3,366.75
Equipment & Repairs
722.05
Medical Attention & Supp.
3,047.09
Telephone
85.17
Registration Fees & Dues
339.60
Rent of Rink
680.00
Food, Dinners, Drinks
424.13
Share Profit Other Schools
1,880.10
Printing, Tickets, Posters ..
140.30
Athletic Supplies
4,673.41
Photos, Photographer
340.00
Petty Cash
200.00
Movies
340.00
$17,699.90
$17,699.90
Health-Bottling Licenses
Bottling Licenses Fee to State
$40.00
$40.00
Cash Refunds
Real Estate:
Taxes:
1959
46,119.78
1958
31,027.49
1957
22,361.95
Previous Years
13,564.33
Poll:
Taxes:
1959
158.00
1958
52.00
Previous Years
2.00
Personal:
Taxes:
1959
489.14
1958
1,087.75
Previous Years
63.20
Motor Vehicle Excise:
Taxes:
1959
10,303.85
1958
8,558.32
1957
1,085.96
Estimated Receipts
71.67
Water
1,773.24
$136,718.68
136,718.68
Total
24,189,325.44 87,601.54
1,364,289.97
Refunds
Total Cash Payments
$25,641,216.95
90
ANNUAL REPORTS
SCHEDULE OF PUBLIC BUILDINGS
School Buildings
Land and Buildings
Personal
Totals
Prescott
$72,200.00
$3,000.00
$75,200.00
Southworth
62,000.00
2,000.00
64,000.00
Hanscom
66,500.00
4,000.00
70,500.00
* Knapp (Inc. Dental Clinic) ..
53,000.00
6,900.00
59,900.00
Baxter
39,200.00
2,000.00
41,200.00
Perry
53,600.00
2,500.00
56,100.00
Bell & Southern Jr. High
364,400.00
10,000.00
374,400.00
Pope
257,700.00
15,000.00
272,700.00
Cummings
87,000.00
2,500.00
89,500.00
Vocational
372,800.00
40,000.00
412,800.00
Northeastern Jr. High
618,000.00
20,000.00
683,000.00
tHigh & Gymnasium
1,242,400.00
146,700.00
1,389,100.00
Grimmons
96,800.00
4,000.00
100,800.00
Forster
50,000.00
4,500.00
112,000.00
#Proctor
42,000.00
5,000.00
47,000.00
Bingham
77,000.00
5,000.00
82,000.00
Morse
59,000.00
5,000.00
64,000.00
Carr
58,600.00
4,500.00
63,100.00
Durell
24,600.00
1,500.00
26,100.00
Burns
46,000.00
3,000.00
49,000.00
Browr
80,700.00
3,000.00
83,700.00
Herbert Cholerton
68,600.00
5,000.00
73,600.00
Lowe
57,000.00
2,000.00
59,000.00
Hodgkins
121,200.00
5,000.00
126,200.00
§Western Jr. High
475,000.00
8,000.00
483,000.00
Cutler
144,000.00
10,000.00
154,000.00
Leon Conwell School
243,900.00
15,000.00
258,900.00
Arthur D. Healey
604,800.00
40,000.00
644,800.00
$5,592,000.00
$378,600.00 $5,970,600.00
Miscellaneous Land
Putnam Street
$400.00
$400.00
Spencer Avenue
100.00
100.00
Princeton Street
600.00
600.00
Wilson Avenue
600.00
600.00
Broadway
15,200.00
15,200.00
Charles E. Ryan Road
3,900.00
3,900.00
Parking Lot (Day Street)
23,900.00
23,900.00
Parking Lot (494-498 Broadway)
4,300.00
4,300.00
Parking Lot Fiske Ave. 11131 Sq. Ft.
2,000.00
2,000.00
Parking Lot Fiske Ave. 23-23R
12,600.00
12,600.00
Poplar St. Incinerator Land
64,100.00
64,100.00
$127,700.00
.....
$127,700.00
* Dental Clinic $1,400.00
Land included in Central Hill Park
Building and Fixtures, Land owned by State
Land included in Walter Ernest Shaw Playground
Forster (Annex)
54,000.00
3,500.00
91
CITY AUDITOR
Libraries
Land and Buildings
Personal
Totals
1Central
$137,000.00
$100,000.00
$237,000.00
East Somerville Branch
25,500.00
2,500.00
28,000.00
West Somerville Branch
42,600.00
10,000.00
52,600.00
$205,100.00
$112,500.00
$317,600.00
Land included in Central Hill Park
Miscellaneous Buildings
Public Works Bldg. & Garage
$581,000.00
$81,500.00
$662,500.00
New Police Station
141,500.00
70,000.00
211,500.00
Recreation Center
73,500.00
2,000.00
75,500.00
§City Hall
347,000.00
200,000.00
547,000.00
Power House & Heat, Plant
142,500.00
142,500.00
Sewer Department
28,000.00
100.00
28,100.00
* Land included in Central Hill Park
Parks
Field House Dilboy Field
$12,000.00
$12,000.00
Trum (Wall, Etc.)
14,000.00
14,000.00
Lincoln
3,000.00
3,000.00
Polling Booths
200.00
200.00
Glen Street Showers
9,000.00
9,000.00
$1,351,700.00
$353,600.00 $1,705,300.00
Fire Buildings
New Fire Alarm Building
..
$27,500.00
$72,000.00
$99,500.00
* Central
48,500.00
39,100.00
87,600.00
Engine Two, Ladder Two
44,000.00
41,500.00
85,500.00
Engine Six, Ladder Three
43,100.00
18,000.00
61,100.00
Engine Five, Drill Tower ...
30,000.00
10,000.00
40,000.00
Ladder One, Engine Three
72,400.00
36,000.00
108,400.00
Ladder Four & Chemical 7 ..
19,500.00
35,900.00
55,400.00
Engine Four
26,300.00
25,000.00
51,300.00
Total
$311,300.00
$277,500.00
$588,800.00
....
....
* Included Electrical Department Equipment
92
ANNUAL REPORTS
FORECLOSED PROPERTY - Continued 1959
Land and Buildings
Personal
Totals
Perkins Street Lot 3
$1,000.00
$1,000.00
Perkins Street Lot 1
1,000.00
1,000.00
Perkins Street Lot 2
1,000.00
1,000.00
Stone Place and 8-10 Sanborn Court
2,100.00
2,100.00
(12) Sanborn Court
1,500.00
1,500.00
Ten Hills Road Lot 33
100.00
100.00
Hadley Court
800.00
800.00
Highland Avenue
100.00
100.00
(9-7) Mortimer Place
700.00
700.00
(13-11) Mortimer Place
900.00
900.00
(82) Myrtle Street
2,300.00
2,300.00
Pearl Street
1,500.00
1,500.00
(93r) Perkins Street
1,300.00
1,300.00
Oak Street Pt. Lot 7
1,800.00
1,800.00
Mt. Pleasant Court (Lot 28)
1,000.00
1,000.00
Mt. Pleasant Court (Lot 27) ..
1,000.00
1,000.00
Mt. Pleasant Court (Lot 26) ..
1,000.00
1,000.00
Mt. Pleasant Court (Lot 33) ..
1,000.00
1,000.00
Perkins Street, Lot 31
1,500.00
1,500.00
(3) Perkins Place, Lot C
500.00
500.00
Mt. Vernon Avenue (Lot 49)
300.00
300.00
Perkins Street - Strip
200.00
200.00
Washington Avenue-Lot A
400.00
400.00
Washington Avenue-Lot D
100.00
100.00
Washington Avenue-Lot E
100.00
100.00
Palmer Avenue
400.00
400.00
Hanson Street-Lot 5
1,000.00
1,000.00
Perry Street-Rear Lot
100.00
100.00
(13r) Albion Street
700.00
700.00
Boston Avenue
600.00
600.00
Cedar Street
200.00
200.00
Craigie Street (Rear)
100.00
100.00
Cross St. (Pt. Lots 81, 182) ..
1,000.00
1,000.00
Elmwood Terrace (Lot 10)
400.00
400.00
Elmwood Terrace (Lot 11)
400.00
400.00
(2) Flint Street
500.00
500.00
(4) Flint Street
300.00
300.00
(6) Flint Street
300.00
300.00
Flint Street (Pt. Lot 18)
300.00
300.00
Franklin Avenue
400.00
400.00
Franklin Avenue
300.00
300.00
Franklin Avenue
300.00
300.00
Franklin Avenue
500.00
500.00
Fremont Street (Pt. Lot 20) ..
100.00
100.00
Fremont Street (Lot 35)
700.00
700.00
Fremont Street (Lots 16, 17)
400.00
400.00
Heath Street (Pt. Lot 9)
100.00
100.00
Linden Avenue
200.00
200.00
Lowell Street (Pt. Lot 39)
100.00
100.00
Medford Street (Pt. Lot 2)
600.00
600.00
Mansfield Street
1,300.00
1,300.00
Lake Street (Pt. Lot 30)
700.00
700.00
Moreland Street (Pt. Lot 64) ..
300.00
..
....
300.00
93
CITY AUDITOR
FORECLOSED PROPERTY - Continued
Land and Buildings
Personal
Totals
Moreland Street (Pt. Lot 65) ..
300.00
300.00
Porter Avenue (Lot 7)
100.00
100.00
Porter Avenue
100.00
100.00
Porter Avenue (Lot 6)
300.00
300.00
Pearl Street
1,500.00
1,500.00
$37,800.00
...... ..... $37,800.00
VETERANS' SERVICES
Veterans' Cemetery
$17,200.00
$17,200.00
Veterans' Housing Projects &
Old Age
7,976,800.00
1,500.00 $7,978,300.00
Totals
$7,994,000.00
$1,500.00 $7,995,500.00
Parks & Playgrounds
Robert Houley Playground
$11,000.00
$11,000.00
Sullivan-Hoyt Playground
2,800.00
2,800.00
Central Hill
475,000.00
475,000.00
Lincoln
83,800.00
4,000.00
87,800.00
Prospect Hill
69,800.00
69,800.00
Tufts
123,000.00
123,000.00
Paul Revere
1,000.00
1,000.00
Trum Playground
84,400.00
84,400.00
Glen Street
39,000.00
39,000.00
Dilboy Field
135,400.00
135,400.00
John M. Woods Playground ..
36,600.00
36,600.00
Walter E. Shaw Playground ..
65,000.00
65,000.00
E. W. Bailey Playground
5,100.00
5,100.00
Dickerman Playground
4,400.00
4,400.00
George F. Conway Playground
200,000.00
200,000.00
Albion Street Playground
5,700.00
5,700.00
Totals
$1,342,000.00
$4,000.00 $1,346,000.00
Summary
School Buildings
$5,592,000.00
$378,600.00
$5,970,600.00
Fire Buildings
311,300.00
277,500.00
588,800.00
Libraries
205,100.00
112,500.00
317,600.00
Misc. Buildings
1,351,700.00
353,600.00
1,705,300.00
Foreclosed Property ..
37,800.00
37,800.00
Veterans
7,994,000.00
1,500.00
7,995,500.00
Misc. Land
127,700.00
127,700.00
Parks & Playgrounds ..
1,342,000.00
4,000.00
1,346,000.00
Totals
$16,961,600.00
$1,127,700.00
$18,089,300.00
Sewers (Cost)
2,026,813.79
Water Works (Cost) ..
1,919,270.89
Total Value of Public Property
$22,035,384.68
..
. . .
...
94
ANNUAL REPORTS
REPORT OF THE TREASURER AND COLLECTOR OF TAXES
Somerville, Massachusetts June 23, 1960
To the Honorable, the Mayor and the Board of Aldermen of the City of Somerville
Gentlemen:
In accordance with accounting and financial data fur- nished to me from the books and records of the CITY OF SOMERVILLE maintained during the calendar year 1959, I am transmitting herewith a summary of financial information in Exhibits I to VIL inclusive, related to Cash, Tax Levies, Tem- porary Loans, Funded Debt and Interest.
A Tax Title Loan was required during the year 1959 to cope with a shortage of working capital caused by a delay in tax collections and the inadequacy of the authorized borrow- ing limit in anticipation of revenue of Four Million Dollars ($4,000,000.00). This deficiency in Revenue Funds generated the use of income tax withholding and other funds to alleviate financial problems.
In view of the detailed information submitted annually by the Auditor's and Assessors' Departments, the scope of whose duties and functions continually duplicates and supplements the work of the Treasurer's Office, I have attempted not to be redundant in this report. I trust that with the cooperation and assistance of Mayor Harold W. Wells the City of Somerville will quickly and intelligently realize the need for centralized administration, finance, accounting and related services which were advocated in my January 1960 budget request to cope with our increasing clerical and accounting problems.
Mere installation of partial automation in one service de- partment will not adequately. efficiently or properly solve the billing, accounting, collection, record-keeping, reproduction or
95
TREASURER AND COLLECTOR OF TAXES
other related administrative services necessary to operate our sizeable municipality. We are no different than a multi-million dollar business entity faced with today's changing economic conditions and the great task of serving the public as inexpen- sively as possible.
I sincerely hope that Somerville officials and citizens can come to recognize that no organization, public or private, can survive in these times on year-to-year planning and financing. Long term planning and a sound fiscal program are the answer to existing and anticipated needs of this community. Many large cities throughout the United States have already taken steps towards this goal by establishing Departments of Ad- ministration and Finance with centralized services.
I, and other city officials, have a trusteeship or steward- ship, not to advocate "public do-goodism" but to create a "better business climate" program. Large affairs, as attested by the following financial data, are too complex to be suscep- tible to rapid conclusions of business executives. We must use informed judgment in handling Somerville's administrative and financial affairs, creating a balance between the claims of our employees, our public, and our objectives for an efficient and capable operating modern system.
In this way, I trust that we can progress and tailor our plans to financial realities and a wiser use of our taxpayers' dollars. This letter of transmittal with my Annual Report is written in order that citizens, taxpayers, business interests and investors in Somerville will acquire a better understanding of the City's finances and objectives.
Respectfully submitted,
ROCCO J. ANTONELLI, City Treasurer and Collector of Taxes
96
ANNUAL REPORTS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS Calendar Year 1959
Revenue Funds
Non-Revenue Funds
Totals
Cash Balance
January 1, 1959 .. $ 336,039.29
$ 266,474.40
Receipts
23,696,660.19
1,285,223.23
$ 602,513.69 24,981,883.42
Total Cash Available
$24,032,699.48
$1,551,697.63
$25,584,397.11
Disbursements
23,921,471.42
1,364,289.97
25,285,761.39
Actual Balance
December 31, 1959 $
111,228.06
$ 187,407.66
$ 298,635.72
Less Revenue Funds Transferred
46,000.00
-
Non-Revenue Funds Variance
-
46,000.00
-
Adjusted Cash
Balance
December 31, 1959 $ 65,228.06
$ 233,407,66
$ 298,635.72
SCHEDULE OF TAX LEVIES ASSESSMENTS AND VALUATIONS
The total warrants submitted to the Office of the City Treasurer and Collector of Taxes for billing and collection were as follows:
Real Estate Taxes
Item Valuation Rate $83.40 per $1,000
Land
$34,249.500
Buildings
90,785,000 $83.40 per $1,000
Sub-Total
$125,034,500
$10,427,877.30
Personal Property Taxes
Valuation
$8,253,300 @ $83.40 per $1,000
688,325.22
Poll Taxes
28,951 Taxpayers
@
$2.00 per capita
57,902.00
Total Tax Levy
$11,174,104.52
Motor Vehicle Excise Tax
Commitment No. 1
$73,989.45
Commitment No. 2
13,886.76
Commitment No. 3
58,531.65
Commitment Nos. 4 & 5
275,004.43
Commitment No. 6
120,099.66
Commitment No. 7
51,043.13
Commitment No. 8
65,458.68
Commitment No. 9
72,004.30
Commitment No. 10
41,236.58
Commitment No. 11
78,682.08
97
TREASURER AND COLLECTOR OF TAXES
Commitment No. 12
31,254.72
Commitment No. 13
36,931.62
$918,123.06
Commercial Nos. 1 & 2
5,306,58
923,429.64
WATER LIENS
32,221.15
BUILDING CODE SECTION 204
2,000.00
1958 MOTOR VEHICLE EXCISE TAX Commitment in 1959
1,106.85
Total Warrants Committed
$12,132,862.16
DEPARTMENTAL COMMITMENTS OTHER THAN TAXES
$1,267,616.32
WATER DEPARTMENT CHARGES
652,943.58
Total Commitments Other Than Taxes
$1,920,559.90
TEMPORARY LOANS IN ANTICIPATION OF REVENUE
Balance Forward January 1, 1959
NONE
Date of Note
Due Date
Discount Rate (% )
Face Amount
1-28-1959
10 -2-1959
1.70
$500,000.00
2-10-1959
10-14-1959
1.71
500,000.00
2-27-1959
10-30-1959
1.70+ $5.00
500,000.00
3-17-1959
11 -4-1959
1.73
500,000.00
3-31-1959
11
-6-1959
1.70+ $3.50
500,000.00
4-10-1959
11 -6-1959
1.745
500,000.00
4-30-1959
11-13-1959
1.927
500,000.00
6 -3-1959
9 -4-1959
2.04
300,000.00
8-11-1959
11-13-1959
2.05
200,000.00
9 -4-1959
10-22-1959
2.04
300,000.00
TOTAL
$4,300,000.00
Temporary Loan Repayments in 1959
4,300,000.00
Balance Forward
NONE
TAX TITLE LOANS
Date of Note 6-15-1959
Due Date
12-15-1959
Interest Rate 2.25%
Face Amount $325,000.00
Note:
This Tax Title Loan was made with the authority of the Commonwealth of Massachusetts Emergency Finance Board pursuant to Chapter 49 of the Acts of 1933 and as amended by Chapter 209 of the Acts of 1957 and of Chapter 44 of the General Laws. The Tax Titles involved in this loan related to Boston & Maine Railroad taxes for 1958.
LOANS IN ANTICIPATION OF LOANS
There were no loans in anticipation of loans made during 1959.
98
ANNUAL REPORTS
SCHEDULE OF OUTSTANDING FUNDED DEBTS AS OF DECEMBER 31, 1959
Interest
Date of
Maturity
Description of Issue
Rate
Issue
Date
Amount
Municipal Relief Loan
2.20%
11 -1-1928
1960
$125,000.00
Veterans Housing
1.50%
-1-1947
1962
90,000.00
Veterans Housing
1.75 %
1 -1-1948
1963
20,000.00
Sewer Loan P.W.A.
3.75%
7 -3-1934
1964
5,000.00
Public Works #2
1.25%
7 -1-1944
1964
26,000.00
Sewer Loan Chapter 44
2.75%
10 -1-1937
1967
11,000.00
Sewer Loan Chapter 44
2.50%
1 -1-1939
1969
30,000.00
Municipal Garage # 1
2.00%
10 -1-1952
1972
405,000.00
Municipal Garage #2
2.40%
4 -1-1953
1973
70,000.00
Stadium Loan
2.70%
10 -1-1953
1973
105,000.00
Elementary School Loan
2.20%
12 -1-1953
1973
790,000.00
School Loan
2.00%
-1-1955
1975
325,000.00
Municipal Off-Street Park- ing Loan
2.40%
8 -1-1956
1966
210,000.00
Departmental Equipment Loan
2.70%
1 -1-1957
1962
75,000.00
Pavement Loan
2.60%
2 -1-1957
1967
160,000.00
Macadam Pavement Sidewalk Loan
&
2.60%
2 -1-1957
1962
60,000.00
Funding Loan
2.70%
4 -1-1957
1967
720,000.00
Water Meter Loan
2.20%
4 -1-1958
1968
110,000.00
Incinerator Loan #1
3.40%
10 -1-1958
1978
235,000.00
Incinerator Loan #2
3.10%
3 -1-1959
1979
1,150,000.00
TOTAL
$4,722,000.00
PROJECTED ANNUAL FUNDED DEBT AND INTEREST PAYMENTS
Year
Principal
Interest
Total
1960
$ 125,000.00
$ 2,750.00
$
127,750.00
1960
457,000.00
114,486.25
571,486.25
1961
451,000.00
103,281.25
554,281.25
1962
451,000.00
92,138.75
543,138.75
1963
370,000.00
81,593.75
451,593.75
1964
355,000.00
72,322.50
427,322.50
1965
349,000.00
63,260.00
412,260.00
1966
349,000.00
54,297.50
403,297.50
1967
314,000.00
45,335.00
359,335.00
1968
203,000.00
38,702.50
241,702.50
1969
188,000.00
33,682.50
221,682.50
1970
180,000.00
29,057.50
209,057.50
1971
180,000.00
24,547.50
204,547.50
1972
180,000.00
20,037.50
200,037.50
1973
150,000.00
15,527.50
165,527.50
1974
85,000.00
11,677.50
96,677.50
1975
85,000.00
9,232.50
94,232.50
1976
65,000.00
6,987.50
71,987.50
1977
65,000.00
4,942.50
69,942.50
1978
65,000.00
2,897.50
67,897.50
1979
55,000.00
852.50
55,852.50
TOTALS
$4,722,000.00
$827,610.00
$5,549,610.00
St. Constr. & Permanent
PROJECTED 1960 FUNDED DEBT PAYMENTS
Description of Issue
January
February
March
April
May
June
July
August
September
October November
December
Total
Veterans' Housing-1948
$5,000
$5,000
Sewer Loan Chapter 44-1939
3,000
3,000
School Loan-1955
25,000
25,000
Departmental Equipment
25,000
25,000
Street Construction & Permanent Pavement Loan
$20,000
20,000
Macadam Pavement & Sidewalk Loan
20,000
20,000
Incinerator Loan #2
$60,000
60,000
Municipal Garage #2
$5,000
5,000
Funding Loan
90,000
90,000
Water Meter Loan
15,000
15,000
Veterans' Housing-1947
$30,000
30,000
Sewer Loan-1934
1,000
1,000
Public Works Bldg. #2
6,000
6,000
Municipal Off-Street Parking
$30,000
30,000
Sewer Loan Chapter 44 -- 1937
$2,000
2,000
Municipal Garage #1
35,000
35,000
Stadium Loan
10,000
10,000
Incinerator Loan #1
15,000
15,000
Municipal Relief Loan
$125,000
125,000
Elementary School Loan
$60,000
60,000
Total
..........
$58,000
$40,000
$60,000
$110,000
$37,000
$30,000
$62,000
$125,000
$60,000
$582,000
PROJECTED 1960 INTEREST PAYMENTS
Description of Issue
January
February
March
April
May
June
July
August
September
October November
December
Total
Veterans' Housing -- 1947
675
$ 675
$1,350
Veterans' Housing-1948
175
131
306
Sewer Loan P.W.A .- 1934
94
94
188
Public Works Bldg. #2
162
162
324
Sewer Loan Chapter 44-1939
375
338
713
School Loan -- 1955
3,250
3,000
6,250
Departmental Equipment
1,012
675
1,687
Municipal Off-Street Parking-1956
$2,520
$2,520
5,040
Street Construction & Permanent Pavement
2,080
1,820
3,900
Macadam Pavement & Sidewalk Loan
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