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Show .SCIIOOI, IIOAIll) IS. IITY ll)i;NCII- TllAT the pritont government of thla clly InleiidetolucreAae the municipal debt to tho limit allowed by cougree-alonal cougree-alonal law, ou 1 will do It nud coniumo the funla, untoai provinleJ, la ! Irongly lwlleve.1 among imminent "I,lbrala"thata movement liai tieon Inauguratcl by tome of them looking totuch legal procwdlnge aa will check the voracity and eatravaganco of the City Council. Undera provhlonot a law of Con-grwa Con-grwa paaaexl In ISiW, a municipal corporation cor-poration In a Territory cannot Incur an lintel tntneta In ear.- of four r cent, of the value of the Uvablu proierty within the corporation, aa abowu by the laat county aaietament roll. While there haa l-een aome contention to the contrary, It It generally, and no doubt correctly held by hwyere and public men of thla Territory that Indebted-neat Indebted-neat for achool purpotea limit be Included In-cluded In the amount of llabllltlee a niuiilclpalltymay Incur. Under the congreeiloual atatuto re-ferret! re-ferret! to, Halt Inke City may go In debt to the eitent of ll,t90,iW, In round number a, and If the meaning generally conceded to the liw la tho correct one, that aum muat Inelu Jo all llabllltlea of tho city at a municipality anJataacluoldUtrlct. City boudato the .amount of tWI,03 have already been Iloated aud are now outaUudtng, andatale ofJ.MO.tW) worth moro la being advrrttaed. Thla will make thu ctty'a bonded debt a round million, to which turn rnuit bo added iu floating debt, which varlea greatly lu amount lnbrlefapaceaof time, but which will average toino tone of thouaiiuda. Over I0O,i la duo from the city fur Uiea oollecte-1 In advance ad-vance for laying the water malna. Including the bonda now being advertl-ed, tho clty'a llabllltlea will not fall much If any under tl,-200,000, tl,-200,000, A Territorial law authorlira a achool dltllctt,)KO In debt to the extent of two per cent, of the valuitlou of the taxable property embraced In It, Hut tbla aUtutela, of ouiirte, aubunllnatu to tho con jnualoual provlalon; and If an Incorporated city, In IU caiuclty aa tiich, aball Incur n debt of more than twu per cent, tot city piircaet, the amount It can borrow aa atcbooldla-trlct, atcbooldla-trlct, to be utod for the beniflt of achoola, will lie corroaponltiigly limited; lim-ited; In other wor.li, the tchoobi have' only auch a margin aa tho City Council Coun-cil may leave. The achoola of thla city nro re pre-tented pre-tented aa belli, lu need of a largo amount of money. The pre. rut prop-oaltlon prop-oaltlon la, In fact, to laaue achool bonda totbeamountof fil00,0)0. Thla turn, vaat at It la, la far loaa than would lie produced by the two jier cent, levy authorlied by Territorial law to be made for echool purpnaee, yet It would Increato the municipal debt to the limit, or thereaboiiti. It la held that Iho Territorial law contomplatee that the achoola may have thu benefit of n two per cent, lu lebtod-lieim, lebtod-lieim, orlmlfof what the hw of Con-gretv Con-gretv allowa to be Incurred, provided thetaxpaycrato vote at a achool bond election. Hut It It alto urged that, If not rettralned, the prttent City Council will run the debt up to high aa to leave for the achoola only a fraction of what they are entitled en-titled to, or pirha nothlugat all; and tbe ropoiltlon now mooted la to plant an Injunction ault to prevent the City Council from Incurring llabllltlea to an extent that will cripple, or Infringe upon the rlgbU of, llio achoola. It la for thla reaaon that legal ndWco hat been nought with a view to UUug ate- to prevent them from being deprived, de-prived, by tho City Council, of tbe raoniy Imperatively needed by them, for tho i rcctlou of achool bulldlnga, i tc. The proceeila of the PJ 1,010 wurth of city bonda will irulukly lu dUp-xted of to meet exlitlug deniauda, o.iUIJu of the city and county bullJIn,'. It la believed, ami the Inference la drawn from tho circular laaue I t arclilt.cU by tho Joint coniiultleo Inviting pinna, that tbocoit of thla alructuro Mill not bo limited to $.IW,WI ui at llrat pro iotHl, hit that, tluiw the coninilttiu made lta tllp u,t to Iikjk-iI -ImlUr iullo ttmctiiret, thu )xir to haa Ivin lurmud to make tho cxwt half n million at hint. Homo of the plain tint will buaubmlttod by competing uriblUctt will couteuiplale the latter figure. Ho far at now tp)ir-, there will have to lie another Uauo of mtinlclinl bomb) In pay the ciljr'at ihare nf the coat of thla building, which will mikoatlll narrowcrthe margin left fur the tchoola, nnd It la warmly urged that Iho courla will have to beapalrd to If tho icho.il- are to I prolecled froniaillatlon, at the lianda of the prevent City Council. Whethrror not an Injunction mil for thla purpoao will be planted, haa not yet, no believe, been decided. And whether the tax payera when called ujoii to vote will decide to favor the Itauo of $1on,OM tthool bonda, will depend tomcwliat U-in tboaeltletnentof tho legal 'juration 'jura-tion aliove referred to, but prlnclfially Um the force nnl promptitude with which the achool locnl thall bring forth lta ttroug reaont. |
