Show UTAH'S PUBLIC DEBT IS PER CAPITA Net Owed by State and Subdivisions Found to Be 46 Every man man woman and child In Utah would owe state stale and local ocal government if it the public debt were spread to each cach individual l the committee of nine ret reported Friday In a section of of it its pending full report the committee estimated the public debt of Utah its political a and civil ivil subdivisions at I I during 1932 By subtracting sinking fund assets the rep report rt placed the total net debt as as' as of last January 1 at or per capita The public debt includes that owed by the state municipal county and school chool governments and by c civil vil subdivisions sub sub- divisions such a as drainage and irrigation tion ion districts Shows Debt Decrease However Utah Ulah was the only west west- em ern rn state t to show how a decre decrease Uie in public debt during the last decade the report stated slated was reached in in 1922 1022 with witha a debt of 85 per capita Dividing the public debt as of last ast January 1 the report said the state governments government's debt y as Vas or 1234 per cent of oC the total Municipalities are most deeply In debt owing or per percent percent percent cent of at the total Counties owe or or 8 92 per pcr cent ent School districts owe or 2513 per cent Civil divisions owe or 1313 per cent The per capita debt was divided as follow State 11 1108 08 m municipalities counties a and d schools 2256 2266 Only one state New state New Me Mexico ico with has has a lower ower per capi capita debt than han Utah the report said S Second ond in Debt Ratio tIo Of the 11 western states tates Utah was the he second lowest in ratio of debt d bl to assessed valuation its debt being only 46 per cent Nevada was lowest with 48 43 per cent During 33 1932 1032 the state and its subdivisions sub sub- visions divisions paid total interest of 2286 on the public debt Interest payments payments payments pay pay- ments were divided as follows State municipalities counties schools and others Interest payments accounted for per cent of ot the total cost of all divisi divisions ns of ot government The debt status has cha changed ed slightly since 1933 the exact amount not being ing determined because of ot lack ck of information information information mation P W A funds funds' borrowed by subdivisIons The report charged that sinking funds are not built up according to law and that bonds are refinanced with the idea of postponing ultimate settlement S Some Same me divisions notably drainage and irrigation districts are now insolvent insolvent insolvent vent and many political subdivisions are arc unable to meet Interest payments the committee reported Recommendations Listed The report closed with four recommendations m 1 More state supervision of sinking sinking sinking sink sink- ing funds and stricter legal lesal requirements requirements require require- ments to retire debts when due 2 Supervision of all new obligations obligations obliga obliga- I ions by some state authority and invoking invoking in in- yoking of ot laws actually controlling in in- 3 Arrangements by some state tate authority authority au au- au for purchase and sale of tax anticipation notes and bonds of subdivisions subdivisions sub sub- divisions 4 Requiring soil soU surveys and other studies before irrigation and end drainage districts are allowed to be created to determine the worth of ot the projects |