OCR Text |
Show raw? I Lvl Oil 1 rviVlriii i ' Logan May Issue Is-sue $65,000 in i Bonds On with th e Plant I No wthe Watchword. Salt Lake City, April 4. The State's objections to Ljgan City's action in deciding to issue $05,-000 $05,-000 bonds for the construction of an electric light p.aut went down to final defeat iu tne Supreme court, when Chief justice Raskin Ras-kin handed down a decision setting sett-ing out that the munbipality has every right to issue bonds as voted by a majority of taxpayers taxpay-ers of the town. The decision ' affirmed the finding of the trial court in the case. ! The State's objection t.r the issuance of the bonds was bse-l on tne fact that the to 1 wess already bonded for '333, jM, and j no municipal corpJi-ation can ! contract indebtedness in excess of the taxes tor tae cjnen. year, and that 116 to.vn, uty. or school district can co uract debts that amount to muro tha 4 per cant of the value of the taxable property. Indebted. ieis in any amount'up to 4 per cent of -.he taxable pi operty inay. be incurred incurr-ed only with the consent oi a majo.vitv of the taxpayers, at an I election he'd a ' ye;.r previous to , '.the time the debt is contracted. ;ln the complaint against I .:.. a the State set out th..t Logan vas 'already bonded for the tu.,.1 ! amount allowed under the Con-1 Con-1 stitir.iori and statutes of the ! State. In replying, Logan fUai- a de-j de-j murrer to the complaint getting ; out that the $85,000 debt was in-' in-' curred in 1892, four years before the town cauie under tae Constitution Con-stitution by incorporating. On that account it was claimed that j the new issue of bonds would not ! in any way conir ?t with the Con- stituf.on, ihetaxiv-bio property 01 the city representing -i vaisiaJ?a of Sl,7J0,00a Judge Baskin, i:i his decisioir of yesterday, held i'lt the issuance issu-ance of bonds ia 18J2 cannot be held in conflict with the proposed propos-ed issue for the construction of a municipal electric plant. He interpreted the statutes to provide pro-vide that a municipal corporation corpora-tion may create a special indebtedness indebt-edness in any amount less than 4 per cent of the valuation, irrespective ir-respective of any debts contracted contrac-ted previous to tho adoption oi the Constitution by the town. lie placed the costs of action upots the State. The opinion was cog curred in by Judge Sirtch, |