FOOTNOTES:
[12] For streets, see Acts of California, 1909, Chapter 684.
For parks, see Acts of California, 1909, Chapter 697.
[13] Special Laws of Minnesota, 1889, Chapter 30.
[14] Charter of Kansas City, 1908, Article 13, Section 12.
[15] Original papers filed in the case.
[16] Lord’s Oregon Laws, Title XLV, Of the Condemnation of Land, Section 6859. Acts of 1909, Chapter 171.
[17] Denver Municipal Facts, Vol. III, No. 20, p. 10.
[19] Charter of Portland, Chapter VI, Section 348 ff.
[20] General Code of Ohio, Section 3677 ff.
[21] California Code of Civil Procedure, paragraph 1243 ff., Acts of California, 1909, Chapter 684.
[22] Greater New York Charter as amended in 1901, Section 970 ff.
[23] Amendment to Constitution of New York, Section 7, Article 1. For text see Appendix, p. [248].
[25] Charter of Kansas City, 1909, Article 6, Section 1 ff.
[26] Charter of Kansas City, 1909, Article 13, Section 8 ff.
[27] Acts of Indiana, 1911, Chapter 231, Sections 17 and 19.
[28] Records of Indianapolis Park Commissioners.
CHAPTER III
THE DISTRIBUTION OF THE COST OF LAND ACQUIREMENT
Cities may pay for improvements as they go along, appropriating the funds out of the general tax levy, or they may make special issues of bonds from time to time, and draw upon the general tax levy gradually for the interest charges and the redemption of the bonds. The income applicable to improvements derived from the tax levy, both directly and through the sale of bonds payable out of the tax levy, is likely to prove inadequate in almost any city in the United States, since a limit to the borrowing ability of a city is usually fixed in the state constitution at from 2 per cent to 10 per cent of its assessed valuation, and the amount available from taxation is just as effectively limited by the inelasticity of the tax rate above a certain figure. The most obvious way out of the financial difficulty is to remove the limitation on borrowing power, and there are precedents for this in nearly every progressive city. It is in fact the usual thing when comprehensive plans are proposed involving considerable financing, for the legislature to allow a bond issue and provide that it shall not be reckoned in determining the amount of the municipal indebtedness.