Report of the city of Somerville 1959, Part 5

Author: Somerville (Mass.)
Publication date: 1959
Publisher:
Number of Pages: 340


USA > Massachusetts > Middlesex County > Somerville > Report of the city of Somerville 1959 > Part 5


Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).


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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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