402 



will be remembered, is to be collected as a tax in annual in- 

 stallments, running through a series of twenty years, and will 

 be received by the Commissioners of the Sinking Fund, and 

 held for accumulation to pay the park bonds at their maturity. 

 The Commissioners confidently believe that this fund, together 

 with the proceeds of sales of land on the eastern side of the 

 park soon to be made, will, with proper management, be amply 

 sufficient for the liquidation of the entire park debt, without 

 any resort to taxation, further than that which may be required 

 to provide for current interest in the mean time. 



The Comptroller's report of the financial condition of the 

 Commission is also annexed, showing the particular items and 

 objects of expenditure during the year. From this report it 

 will be observed that the Maintenance Account is overdrawn 

 to the extent of something over seventeen thousand dollars, in 

 consequence of the insufficient requisition for maintenance 

 which was made upon the Joint Board last year. Such changes, 

 however, have been made in the executive department of the 

 Commission as will enable the Commissioners to provide for the 

 deficit out of the current year's allowance, and at the same 

 time to guard against an overdraft in the future. The report 

 also shows a balance in the hands of the Commissioners at this 

 date, to the credit of the General Construction Account, of 

 ninety-nine thousand two hundred and ninety-two dollars and 

 eighty-seven cents. 



Dated December 31, 1870. 



J. S. T. STKANAHAN, 



President. 



JOHN II. PEENTICE, 



Secretary. 

 JOHN K TAYLOR, 



Comptroller. 



