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1031 <br /> 00 : APRIL 12,1944 cont. <br /> lent ^of it Iv order for bean deeded <br /> to to gl tax <br /> eed title <br /> thee Port Commie some of it <br /> 00on,the Oily ouncil has paid out in pact years and will have ',I <br /> to Par 001 0 a total of$7,468.41 taxpayers money. In foot <br /> give it away. We lose 011 control over this lend. The land <br /> will be 1n the hands of private interest for an indefinite time. <br /> I have no objection for these lends to be filled by the Port b.. <br /> Commission,andam in favor of paying the Port for the cost of <br /> o doing this job;but the title to the lanl in question should re- <br /> main as is. I believe it is illegal to give away any property <br /> led belonging to the Everett citizens. If we start this n we <br /> w111 have to keep on doing 1n yearn to come. The amount <br /> unpaid on L.I.0.e long ton Ave.,is enormous. This c <br /> sets a precedent,1f we keep on paying L.I.P.ewhich are no 011110 <br /> toot to the City,we can bankrupt the City very easily in time <br /> to come. <br /> our L.I.D.G0arahty food Mile 1n good shape now,will dwindle <br /> ed. I sow sooner then wa eapecc. <br /> All we c legally levy each year is only 5¢ f the emcvnt of <br /> p�„ outstandinbonds. Ti,surplus So that fund of <br /> 000011ary to <br /> L take ore of future obligation, lowever,if we do have to ac- <br /> quire interest in L.I.0.0 I believe we had established a polio,- <br /> tI $ to only turn the property over for the amount(principal) <br /> against It. <br /> I feel that it is either unlawful or uv-ethical for the City <br /> Cou0e11 es trustees of 011110 funds to give away 100007.10 monies. <br /> Ih this case we make a present of$7,460.41 to private interest. <br /> Yours very truly,. <br /> H.Are., <br /> mayor. <br /> Sed. <br /> On motion the Council adjourned at 11:20 All. // >6 <br /> I/ !� N2m City C1 k <br /> Reed and approved as of record,April 13th,1944. <br /> mayor <br />