Show State Must us Raise ass For Sinking Fund Before BeCore the tho lose Close of the fiscal year of the state November 30 30 which this year means November 29 inasmuch Inasmuch inasmuch inas Inas- much as the last day or the month Is a ho holiday the holiday the state of or Utah will have to set aside from its general fund as sinking funds for three bond Issues And owing to toa toa toa a peculiar mistake by the legislature of 1911 the amount should be Instead of In 1911 the state Issued in bonds for state road purposes s every county In the state except Salt Lake Lake receiving from this fund In road construction The legislature legislature leg leg- authorized the sinking fund for these bonds to be act up at the rate of a year during thelast the tho thelast last ten years of the life Ufe of the bonds This would make only on hand July 1 1931 when the I bonds become due I Left to Legislature The faulty arithmetic apparently II went unnoticed at the time ume and the error was perpetuated perpetuate ny y the 1921 1931 legislature when it in its budget bud et for this sinking fund Mark Tuttle stale state auditor and aUti Walter A A. lay Day ay his deputy yesterday yesterday- had this matter under consideration However the ino law gives th the state auditor no authority y 0 o set aside more than t for r this purpose and It is pr probable bilt that th the matter will have to go over OTer for cUon by the next JE legislature A At t the same time the 1 Ij sla Jre may be asked to set aside an additional additional additional addi addi- for bonds due January January January Janu Janu- ary 1 1924 These bonds in the amount of were part pal of or orthe the Issues authorized to obtain funds for the construction of the state capitol No sinking singing ut was wa set set up up during 1914 the result that t the present biennIum will wm close with only to the me credit of the sinking fund for these bonds bond Another paid In 1923 would still leave when me the bonds become due the first day of 19 1924 4 The of the present predent biennium um for tor this sinking nas nag not yet I been set Bet aside but this must be done doc this month In addition there Is s the for the state road b bunds and another for a of Utah bond Issue also due Jul July 1 1 1931 This starts the sinking fund for the bonds from tram was raised for the construction of the main building at the university To Call on Counties The balance In the In-the the state gen genial geni-al fund yesterday after ail aft outstanding warrants are paid was wa only In round numbers The general fund owes the road accounts or the vari vari- various various ous counties between and It will be necessary to provide a considerable revenue forthe for tor forthe the fund during the present month therefore It is thought probable ble that the county treasurers will send In before the close of the month sufficient of the a j fo re o portion nor nor- tion of the tax receipts up to that that time t to meet the current obligations of the state general fund If It is done the state may have to borrow borrowa a small amount to carry it over until the tax moneys are received heavy tax receipts at Qt the county treasurers' treasurers offices throughout Utah will come during the closing days of November November November Novem Novem- ber and the states state's portion Of these will be forwarded to Treasurer W. W D. D Sutton Button early In December However However However How How- ever sufficient advance payments will forward the amounts in the tho near future It Is probable that Mr Tuttle Tuttle Tuttle Tut Tut- tle and Mr Sutton will follow precedent prece prece- precedent precedent dent of former years and issue formal form form- al requests on the county treasurers within the near future |