Salt Lake Telegram | 1935-02-27 | Page 10 | Bond Refunding Plans Are Laid

BOND REFUNDING PLANS ARE LAID LAIDA A financial maneuver which would enable the state of Utah Ulah to increase general fund apportionments to state te departments departments' without increasing taxa- taxa xa- xa tion lion Wednesday moved one step near er reality j Plans were made durin during the meeting meet meet- ing irig of the state board of ot loan corn com missioners at nt the capitol to II refund refund- H state bonds totaling JI 1 Under the plan suggested to the the the-i j twenty first legislature by Governors Governor Henry H. H Blood in his budget rn m mc g sa sage c the bonds now due for payment w would uld be refunded over a year 16 1 p nod j First payment under the new v PhIL would be In 1040 Consequently the state slate general fund und would be relieved t I of all debt service requirements but payment of oC the 4 per cent interest J on the securities y Issuance of or the bonds according to 5 1 1 the serial system would allow a state budget of for the 37 period instead of a budget which would be required If Jt the bonds were not refunded Legislative permission sion for the r re fund Lund move has been granted by the 1 twenty first legislature A bill pro po pro pro-ll viding for the refunding was intro b by Senator Ward C. C Holbrook I D. D Davis and parsed by both houses howes