PARK FINANCING 



475 



ment and through a system of refunding, there often results, as one writer 

 puts it, more "sink" than "fund." It is desirable that all park departments 

 make use of the serial type of bond for both acquisition and improvement, 

 and, for most improvements, short-term serial bonds should be used. 



EXAMPLES OF BOND ISSUES IN SOME CITIES WITH POPULATION RANGING FROM 



City 

 Baltimore, Md. 



Years Covered 

 1860 

 1894 



500,000- 1,000,000 



Issues 



$440,000 



1,000,000 



i ,000,000 



Purpose 



1904 

 Boston, Mass. 1893-1925 



Note. Outstanding funded debt of Boston for Parks, Playgrounds and Bathhouses, report of the city 

 auditor for financial year 1924-1925: For Playgrounds, $2,653,500; Parks, $6,084,300; Bathhouses and 

 Gymnasiums, $106,600. 



Note. Loans authorized by special statutes outside of debt limit, report of city auditor for financial 

 year 1924-1925: 1886, Park Construction $2,500,000; 1887, Public Park Lands $400,000; 1888, Public 

 Park Lands #600,000; 1890, Public Parks $200,000; 1891, Public Parks $3,500,000; 1894, Public Parks 

 $1,000,000; 1806, Public Parks $1,000,000; 1898, Public Parks $500,000; 1899, Public Parks $500,000; 1902, 

 Metropolitan Park Assessment $420,400. 



Note. Loans authorized during fiscal year 1924-1925, report of city auditor: Playgrounds, $330,750; 

 Parks, $183,000. 



Total 



8,844,300 



Boston Metropolitan 



Park District 

 Cleveland, Ohio 



Cleveland Metropolitan 



Park District 

 Los Angeles, Cal. 



St. Louis, Mo. 



1893-1923 

 1874-1924 

 1915-1922 



i issue 

 10,000 

 96,000 

 60,000 



Note. These sums were part of a bond issue of ap; 

 The $2,500,000 was for new Parks and Playgrounds anc 



Loan Appropriations with Accretions 

 Park Bonds 

 Playgrounds Bonds 



Parks 

 Parks 

 Parks 

 Playgrounds 



'roximately $83,000,000 for Public Improvements, 

 the $1,300,000 for Improvements. 



San Francisco, Cal. 



1904 



3 issues 



25,547,361 



10,522,000 



90,000 



700,000 



166,000 

 1,500,000 

 2,500,000 

 1,300,000 



1,360,000 



EXAMPLES OF BOND ISSUES IN 



City 



Cincinnati, Ohio 



Denver, Col. 

 Indianapolis, Ind. 

 Milwaukee, Wis. 

 Minneapolis, Minn. 

 Portland, Ore. 

 Rochester, N. Y. 



Seattle, Wash. 



SOME CITIES WITH POPULATION RANGING FROM 



250,000 - 500,000 



1913-1921 

 1919-1921 

 1906-1912 

 1920-1924 

 1914-1924 

 1912-1925 

 1907-1919 

 1888-1918 



1916 



Previous to 1916 

 1924 



Issues 



10 



3 



5 



i 



Purpose 

 Park Bonds 

 Park Assessment Bonds 



Park District Bonds 



Total 



$2,107,946.97 

 46,120.00 

 3,571,200.00 

 3,058,000.00 

 4,380,000.00 



Land and Improvements Bonds 7,694,565.82 



1,727,000.00 



Park Bonds 493,000.00 



Playground 30,000.00 



4,006,777.50 

 430,000.00 



