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Show Orem's Largest Taxpayers Who are the 10 largest property taxpayers tax-payers in Orem City? The answer to that question, along with much other interesting information is included in the Prospectus and Notice of Bond Sale issued by Orem City recently. The Prospectus, which was prepared by Burrows, Smith and Company under the direction of Orem City officials, was issued in connection with the sale of $450,000 in general obligation water bonds on which bids were opened Tuesday night. The bonds, to be issued in denominations of $5,000 and sold to a single bidder, will be dated Feb. 1, 1972, and will mature serially in numerical order starting with $35,000 worth in 1973 and ending with $55,000 in 1982. According to the Prospectus, the $450,000 in general obligation bonds are being issued to finance the construction of improvements to the Orem City culinary water system. The project consists of the construction of a new five million gallon water storage tank, a new water main running along 200 North Street from Palisades Drive to State Street, and a new main water line running along 600 South Street from Palisades Drive to State Street, together with other appurtenant ap-purtenant works and improvements. Sale of the bonds authorized by Orem citizens in an election held Nov. 2, 1971, in which the registered voters voted 3,945 for' and 687 "against' the issuance of the bonds. In Orem CityT financial statement outlined out-lined in the Prospectus, Orem's estimated actual valuation is given as $136,580,385. The 1971 assessed valuation was given as $27,316,077. A total of $1,745,000 in general obligation bonds was shown as outstanding against Orem City, with a balance of $230,000 in water and sewer bonds maturing in 1976; $905,000 in sewer bonds maturing in 1986; and $610,000 in public building bonds maturing in 1983. The Prospectus shows a total of $660,000 in water and sewer revenue bonds outstanding outstand-ing with a maturity date of 1979. Total special improvement district bonds outstanding total $166,900, with $86,100 maturing in 1976, and $80,800 maturing in 1979. Orem City's debt ratios show a total direct debt of 6.39 percent of the assessed valuation, and a total direct debt of 1.28 percent of actual valuation. The total direct and overlapping debt is 2.37 percent of actual valuation, and the total direct and overlapping debt is 11.87 percent of assessed valuation. The per capita direct debt is $85.31, and the per capita direct and overlapping debt is $143.37. During 1970 Orem City collected $598,999 in property taxes on a mill levy of 23.11 mills. In 1969-70 Orem City's total receipts were $2,477, 226, while it's expenditures and balances totalled $3,059,121. The Prospectus lists Utah Power andLight Company as the largest taxpayer in the city with an assessed valuation of $3,469,502. In descending order of assessed valuation the following listing is shown: MountainStates Telephone, $730,450 assessed valuation; Mountain Fuel Supply, $506,585; Signetics Corporation, $178,039; Denver and Rio Grande Railroad, $55,728; J. N. Burnham's Geneva Pipe Co., $44,429; Geneva Rock Products, $30,371; Toffee Hauzen, $26,987; T. & C. Corporation, $25,142; and Los Angles and S. L. Railroad, $23,612. Gfbwth of the community is reflected in listing of new water and sewer connections shown in the Prospectus. During the fiscal year ending June 30, 1971, there were 340 new water connections and 560 sewer connections. con-nections. Also, during that same year there were 2,782,843,805 gallons of water metered into the culinary water system of the city. 3FT V - 1 1 i'i CRUSHED VINYL TOP of small sports car apparently was protection enough for two students to escape injury in a rollover down an embankment west of GenevaWorks Wednesday night. Occupants of the auto were Blair Tucker, 19, Orem, and Jane Standing, 18, Seattle, Wash. Students Escape nury Genealogical Classes To Be Held The Utah Vailey Branch Genealogical Library is sponsoring sponsor-ing the following genealogical classes which will run weekly for a period of 8 to 10 weeks: Research in England taught by Jerry D. Wells, classes to begin Tues. Feb. 1, 7-9 p.m. Research in U. S. taught by Roger Flick, classes to begin Tues, Feb. 1, 7-9 p.m. Research in Denmark taught by Gunnar Christensen, classes to begin Wed. Feb. 2, 7-9 p.m." Beginning Research taught by Roger Flick, classes to begin Thurs. Feb. 3, 7-9 p.m. Research in Sweden taught by Carl-Erik Johansson, classes to begin Thurs. Feb. 3, 7-9 p.m. Using Libraries for Genealogical Geneal-ogical Research taught by Don Howard, classes to begin Feb. 3, 7-9 p.m. REPORT OF CONDITION OF OREM STATE BANK of Orem in the State of Utah at the close of business on December 31, 1971. ASSETS Cash and due from banks (including $ unposted debits) 471,915.41 U.S. Treasury securities 576 524.19 Obligations of other U.S. Government agencies and ' corporations 682,334.00 Obligations of States and political subdvisions . . . 213,000.00 Federal funds sold and securities purchased under agreements to resell NONE Other loans 5,319,177.36 Bank premises, furniture and fixtures, and other assets representing bank premises 60,093.81 Real estate owned other than bank premises , 142,442.01 Other assets ,524.33 TOTAL ASSETS 7,475,011.11 LIABILITIES Demand deposits of individuals, partnerships, and corporations 2,785,706.44 Time and savings deposits of individuals, partnerships, and corporations 2,895,593.37 Deposits of United States Government 57,392.58 Deposits of States and political subdivisions .... 682,243.77 Deposits of commercial banks 75,000.00 Certified and officers' checks, etc 147 567 44 TOTAL DEPOSITS $6,643,503.60 ' (a) Total demand deposits 3,287,707.31 (b) Total time and savings deposits $ 3,355,796.29 Federal funds purchased and securities sold under agreements to repurchase NONE Other liabilities 378.323.43 TOTAL LIABILITIES 7,021,827.03 RESERVES ON LOANS AND SECURITIES Reserve for bad debt losses on loans (set up pursuant to Internal Revenue Service rulings) . . . 53,772.31 TOTAL RESERVES ON LOANS AND SECURITIES . . 53,772.3i CAPITAL ACCOUNTS Equity capital, total (sum of items 36 to 40 below) 399,411.77 Common stock-total par value 150,000.00 (No. shares authorized 3000) (No. snares outstanding 3000) Surplus 125,000.00 Undivided profits 124 411.77 TOTAL CAPITAL ACCOUNTS 399,411.77 TOTAL LIABILITIES, RESERVES, AND CAPITAL ACCOUNTS 7,475,011.11 MEMORANDA Average of total deposits for the 15 calendar days ending with call date 6,508,299.78 Average of total loans for the 15 calendar days ending with call date 5,274,164.67 I, M. Warner Murphy, President, of the above-named bank, do solemnly affirm that this report of condition is true and correct, to the best of my knowledge and belief. Correct - Attest: m. Warner Murphy Directors: LeGrand Jarman M. Dover Hunt (SEAL) j0hD FDayneS State of Utah, County of Utah ss: Sworn to and subscribed before me this 12th day of January, 1972. David J. Stone Notary Public STATE OF UTAH Department of Financial Institutions I, W. S. Brimhall, Commissioner of Financial Institutions, do hereby certify that the foregoing is a true and correct copy of the statement of the above named bank, filed in this office on January 17, 1972 W. S. Brimhall Commissioner of Financial Institutions Published in the Orem-Geneva Times, Thursday, January 20 1972 IRS Results On Price Posting The results of initial IRS spot checks of retail stores in Utah for compliance with Price Commission Com-mission posting requirements which went into effect January 2 were announced today by C. J. Walk Assistant to the District Director, Utah Internal Revenue Service. 17 spot checks were conducted during the period January 3, 1972 through January 11, 1972. These showed that 65 retailers were in full compliance, 20 were in various var-ious stages of compliance and 32 were in violation of the posting requirements. Bank Of Am. Fork Plans Expansion Plans for added parking facilities, facili-ties, more building space, continued con-tinued on-the-premises computer com-puter accounting, and an application applica-tion for an Alpine Branch, mark the beginning of another year of progress at Bank of American Fork. Orville Gunther, bank president, pres-ident, says plans are under way for increasing floor space of the present bank building. This will be accomplished by expansion into the bull ing next door west, now owned by Bank of American Fork. To handle the bank's enlarged capacity for service, additional parking is being planned through a lease of property across the street. This has already been surfaced and striped and will be in service this month. The biggest progress in physical phys-ical facilities," says Mr. Gunther, Gun-ther, 'is the addition of an IBM System 3 computer." The computer, com-puter, now in service, makes Bank of American Fork the only bank in Utah County with an on-the-premises computer system. The computer is the latest in electronic data processing, and has the capacity to handle a 50 increase in business. Bank of American Fork has recently made application for a branch bank in Alpine. "We hope," says Mr. Gunther 'this service may be provided for the citizens of Alpine during 1972.' Bank of American Fork, one of Utah County's leading independent inde-pendent banks, has shown a growth in assets of over 22 in the last two-year period, and Mr. Gunther notes that continued growth at an accelerated rate is expected in the future, due to an ever-expanding service area. Two students escaped with minor bruises and cuts when they were involved in a one-car rollover during a light snow storm Wednesday evening (Jan. 12) about 9:30 p.m. west of Geneva Steel Plant. Driver of the small sports car, Blair Tucker, 19, of Orem, told officers the car hit a slick Pvf. Olson Completes Course Army Private David R. Olson, 22, son of Mr. and Mrs. Jerry R. Olson, 451 N. 150th East, Orem, Utah, recently completed an eight-week cooking course at Ft. Ord, Calif. The course trains personnel to prepare and serve a wide variety of food in large or small quantities. Students are trained in baking, the principles of meat cutting, field kitchen operations and service of an Army Mess Hall. Pvt. Olson is a 1968 graduate of Orem High School. His wife, Judy, lives at 1570 S. 320 East, Orem. low Officers Attended Seminar Law enforcement officers from around the county attended a training seminar held in the facilities of the Orem City Police Department, Tuesday Jan. 11, under the direction of the Attorney At-torney General's office. Dave Young, an assistant to the attorney general received the new state narcotics laws in an eight hour class which was conducted con-ducted under the authorization of the Police OfficersStandardsand Training Committee. Officers from the Utah County Sheriffs Department, the Springville, Pleasant Grove, Lehi, Payson, and Orem police departments and the BYU Security Se-curity were in attendance. spot, skidded off the road and rolled down a 35 foot embankment embank-ment near Utah Lake. The car rolled one and a half times and came to rest upside down. Both occupants crawled to safety and walked about half a mile to telephone tele-phone Highway Patrol. The passenger pas-senger in the car was Jane Standing, Stand-ing, 18, of Seattle, Wash., a student at" BYU. Mr. Tucker attends UTC. Investigating officers termed the car a total loss. Fourth Infantry At Orem High Elements of one of the best units of the Fourth Infantry Division, Di-vision, Fort Carson, Colo., will be in the Orem area to sell the division to potential enlistees and to give the area residents an overview of the Modern Volunteer Army. Eighty-five soldiers from the 2nd Battalion Uth Infantry (The pioneers"), Fort Carson's Best Manuever Battalion, will be bringing an array of military weaponry and equipment for displays dis-plays to at least 10 Utah High Schools. A Monday display is scheduled for the Orem High School. The parents of Orem High School students are invited to attend. Hew Army Option For Enlistment The United States Army has announced a new enlistment option for the recruitment of Clinical Specialist. The program is for an initial obligation of 3 years and includes in-cludes forty weeks of clinical specialist training at Fort Sam Houston, Texas after completion of ten weeks advanced training in Basic Medical Treatment. The schedule of an enlistee is as follows: One week of in-processing, Eight weeks of basic training, Ten weeks training inbasic Medical Med-ical Treatment, Two weeks paid leave, Six weeks practical experience ex-perience at one of nine different Army hospitals. Forty weeks of Clinical Specialist training. The nine Clinical Specialist are state approved and qualifies graduates of the school to take state board examinations to become be-come licensed Practical or Vocational Nurses. For more information about this and other enlistment options without obligation contact SFC Curtis W. Spencer U. S. Army Recruiter at 348 West Center Street Provo, Utah or call collect col-lect 374-5011 Ext. 7295. Cadet Corporal Olsen Spoke to Local Groups West Point, N. Y. U. S. Military Academy Cadet Corporal Corp-oral Reginald D. Olsen, 20, son of Mr. and Mrs. Dean L. Olsen, 525 N. 500 W.,Orem, Utah, spoke to local groups about the academy during his Christmas leave. Cadet Olsen, a member of the Academy's class of 1972, spoke at Pleasant Grove High School, Orem High School and Springville Spring-ville High School. He discussed West Point admission ad-mission policies, academics, athletic programs and cadet Ectivitl6s The Cadet is a 1969 graduate of Orem High School. Special Seminar At BYU The role of community schools in serving the health needs of communities will be discussed at a special seminar being held on the Brigham Young University campus Jan. 22. Sponsored by the BYU Regional Center for Community SchoolDe-velopment SchoolDe-velopment and the Utah State School Office, the seminar will feature state health officials, private pri-vate practitioners and youth services ser-vices officials. The main focus of the after- Orem-Geneva Times Thursday,JanuaryZ0,1972 Pvt. Mock Homed Soldier Of Month 7 I'I Steven Dallas Freese from Orem has enlisted into the United States Army for a period of three years. Steve enlisted for the Neuropsychiatric Procedures Course. His first two months will be spent at Fort Leonard Wood, Missouri for basic training, train-ing, from there Steve will be sent to Brooke'sArmyMedicalCenter for his guaranteed schooling. Steve is the son of Mr. and Mrs. Eugene Freese of 347 South 1000 East in Orem. noon seminar will be a panel discussion on the role of the community com-munity schools in serving the community health needs and the use of community schools by health agencies. Principal speaker will be Dr. Robert Leake, director of health and physical education, Utah Dept. of Education. U. a. Army, Korea -- Army Private First class Phillip G. Mock, son of Mr. and Mrs. Bobby G. Mock, 908 West 400 South, Orem, Utah, recently was named iSoldier of the Month for the 1 7th Ordinance company inKorea. 1 He . was selected for his soldierly appearance, knowledge and. performance of duties and ilitary courtesy. PFC. Mock received the dis-tisction dis-tisction while assigned as a draftsman with the company. He jentered the Army in May 1971, completed basic training at Ft. Lewis, Wash., and was last stationed at Ft Ord, Calif. The 22-year-old soldier received re-ceived his Associate of Arts degree from the Utah Technical College at Provo, in 1969. Oreni -Geneva Times MEMBER OF THE HAROLD B. SUMNER Editor and Publisher Published every Thursday at Orem, Utah. Office and plant located at 546 South State Street; Mailing address; P. O. Box 65, Orem, Utah 84057. Subscription price: $3.50 per year. Second-class postage paid at Orem, Utah. "ITS NATIONAL SAFETY PIN WEEK!" rr. H' Ac? x That calls for a celebration - but there are times to be serious, too! If you do not, at present, hove a homeowners policy on your home - and its many coverages and savings call Bowen & Leavitt for information. in-formation. Remember - call, write or drop in to see us anytime. How en - Leavitt Insurance line. 500 South State Orem " Your Security is Our Business " 3" T Now the Army starts you at $288.00 a mo. And you may not even have to spend it. SEE Curtis W. Spencer Provo, Utah 374-7295 Pvf. Hilton Completes Field Wi reman Course Ft. Ord, Calif. Army Private Pri-vate Allen L. Hilton, 18, son of Mr. and Mrs. Junis H. Hilton, 733 South 1000 East,Orem,Utah, recently completed an eight-week field wire man course at the U.S. Army Training Center, Infantry, Ft Ord, Calif. During the course, he learned to install and maintain field wire communication systems, operate field telephone switchboards, receive and process messages and operate a message center. The soldier is a 1971 graduate grad-uate of Orem High School. Private Gardner Completes Course Ft Ord, Calif. (AHTNC) Dec. 29 Army Private First Class Melvin L. Gardner, 23, son of Mrs. Telia B. Forcier, Orem, Utah, recently completed an eight-week cooking course at Ft. Ord. Calif. The course trains personnel to prepare and serve a wide variety of food in large or small quantities. quan-tities. Students are trained in baking, the principles of meat cutting, field kitchen operations and service of an Army Mess Hall. PFC. Gardner is a 1967 graduate grad-uate of Roseville High School, Roseville, Calit his wife, Marelle, lives in Fairview, Utah, What's Inside aTrain, Daddy? How would you answer? Name almost anything and you'd be right, because most of the things you buy or use every day, at one stage or another, came on a train. Gasoline, lumber, candy bars, fruit, fancy frocks, furniture, TV sets, you name it. But almost as important to you as what's inside a train are the many other benefits of rail transportation. . For example, trains mean jobs for thousands of people-many people-many your friends and neighbors-highly skilled people who make their living by keeping the things you need coming to you on Union Pacific trains. Trains enrich the economy by providing the transportation link in the marketing chain. The goods you require are less costly because rail transportation moves goods for less. And trains are dependable. You can get the things you need when you need them, where you need them. Indeed, there's more to trains than boxcars and diesel engines. There are very few people whose lives aren't touched every day, in some way, by a train. And here in the West, train means Union Pacific. UNION PACIFIC RAILROAD A Utah Corporation |