Show 8 BOND ND 18 ISSUE f 1 TO COST 1 aO O Y A statement preliminary to the report on the proposed school bond Issue n Thursday Thursday Thursday Thurs Thurs- day by Dr M. M It Harris in charge of ot a corps of ot investigators retained by bythe the Utah Taxpayers' Taxpayers association It Is hardly fitting that I should discuss any phase of the situation until the complete report Is prepared prepared prepared pre pre- pared by the Investigating committee commit tee but it seems necessary at this time to summarize a a. few facts which have bave an important bearing or on the proposed Issue Dr Harris said The Tue Issue will run for twenty years at 4 p per r cent interest and the initial interest charges harges will be bo CO- CO per year However this cost Gost will be about double when the sinking sink rink ing lag fund to liquidate the tho bonds is added making the annual cost about It must also be remembered that money borrowed over this length or of time practically doubles the tho principal principal pal so the tho liquidation of the present pres pres- ent eat bonds has bas nothing to do with Ith the burden for the new building In addition to this is the maintenance of the building salaries and other costs which will be approximately annually and even after aCter all aU the bonds are paid the maintenance maintenance nance will continue These facts are arc not presented to either encourage or or dl discourage courage the issue but are merely to summarize the situation as it exists The committee recommendations recommendation will bo be made public In about a week Mr Harris said |