The assessed valuation of taxable property in TACOMA in 1903 was
$22,468,988. The bonded indebtedness, exclusive of the water and light
debt, is $1,743,000. The city has no floating indebtedness and has a
sinking fund amounting to $135,734.52, largely invested in TACOMA city
bonds bought in the market at 110. The city owns property valued at
$3,250,000. The light and water debt of $2,080,000 represents the capital
invested in a profitable business which produces a revenue to the city.