Salt Lake Telegram | 1936-02-01 | Page 6 | County Board Slashes Debt

COUNTY BOARD SLASHES DEB Impaled Saturday on or a d horned dilemma sprouting f fr ril question question how how to moat most j ju utilize a a. 19 1935 surplus of 1 2 county commissioners d decided ld 4 apply it to t the e county county's Mn d debt t. t Result Reduction of S. S Salt SaIt coun county's ys bonded debt to lowest level it has been at sinter aIne Upon completion of the tnt tea Uon tion the county's county bonded de debt be about bout 4 of 1 per cent of valuation The it Ital t limit of debt Is 2 per cent of Dl assessed valuation Commissioners ers debated bated 1 long tirelessly on an alternate alternate ti setting letting up of a r reserve erv to be h ai as M county cost ost ost of administering cl cial l legislation t Apprised by Auditor Ferrin Adams that the generous U ju jj would accrue from 1935 operatic commissioners went into exec session Upon adjournment the no that th the fund fund would 4 applied to Ind indebtedness was made by B. B F. F chair chal of ot the commission The surplus was managed In of ot a deficit with which county government started 1533 1935 Two years ago the c cot cou ant deficit was In exec excess of 2000 Budgets for tor 1936 alread already coot conte plated maturity of o of t debt th this l year This amount will 1 increased to Include J 35 z of ot 1919 road bonds bond purchased former Auditor James H. H S Sas sum as aoS an investment but never canceled In spite of the far reaching d fal slon zion to comp completely et ly exhaust th thai J surplus commissioners the belief bellet that it will be nary aary to Increase the 1936 tax ta I ta unless unforeseen emergencies emergenci j If between now and next A At A when the levy will be fixed La ja year the county levy Jevy was 5 88 nil ml or 58 per 1000 1000 assessed essed tion