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Audit Report 12/31/1969
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Audit Report 12/31/1969
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Audit Report 12/31/1969
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• <br />Details on the assessed valuation of property on the tax rolls and the <br />tax levies, as voted by the Council are shown in Schedule 1 at the end of this <br />report, on a comparative basis for the last three years. The assessed valuation <br />at $1,272,826.00 had increased by $49,085.00 from that of one year ago. The <br />ratio of assessed value to market value is reported to be 27.6% for your village <br />as compared with the desired uniform ratio of 33 -1/3% for the entire state. <br />Insurance and bonds in force are detailed in Schedule 2 at the very <br />end of the report. Adequate coverages appear to be carried on the usual risks <br />as your insurance requirements have been reviewed and adjustments made recently. <br />Your voters approved the proposed sale of a $100,000.00 bond issue to <br />be used to finance a new municipal building. No bids were received for the <br />December 8, 1969 bond sale. On the second attempt on January 29, 1970, the bond <br />issue for $100,000.00 was sold at a net effective interest rate of 6.9956% to <br />Piper, Jaffrey & Eopwood. <br />-5- <br />
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