Show S S. L L. County Sees End Of Debt for First Time Total Went as High as in Past Decade Decad Cost Taxpayers Interest For the first time in its official lifer life Salt Lake county Tuesday Tuesday Tues Tues- day could see the end of its debt which h has been as high as in the past decade and has cost taxpayers as much muchas as in interest in its peak year J T The e interest paid on term bonds bonds' is exclusive of paid in 1 int Interest re fn tax anticipation notes I Issued 2nd retired In 1932 recalled I County Audit Auditor Ferrell H. H Adams j a as he surveyed cd the debt situation In s 2 O 0 Bonds In-Bonds This year the county owes in term bonds and wilf will pay interest or Of less than in 1932 But the county has als also authorized issuance of of tax anticipation I bonds this year Only have been marketed However if the full amount of tax bonds au authorized authorized authorized au- au Is i lamed issued sued the interest paid on them will be Although the county became an entity October 5 1851 under the state of Deseret assuming its present present present pres pres- ent corporate status in 1896 according according according ac ac- ac- ac cording to Mr Adams the earliest i record of its its' bonded debt is in in 1904 1901 In that year the county had 4 g general obligation bonds outstanding Exam Examination nat on of maturity maturity maturity ma ma- dates also a matter of record roe rec ord led the auditor to assume the bonds were obligations probably Issued in 1896 D Debt bt Less Now The per capita bonded debt of Salt Lake county last year was i about 99 cents cents cents- compared with In 1933 when the debt hit the decade high point At the present rate of bond retirement retirement retirement re re- re- re the tie county can be debt free by the end of 1944 Already the debt is down to with of that amount slated for retirement in four months said Mr Adams The bonded debt now Is only per cent of the assessed valuation val val- of the county Under the tIie con constitution ti n the debt jim ri 4 as high as 2 per cent f Thus e. e explained Mr Adams In Incase incase n case of an emergency the county has a wide margin of borr borrowing wing power In 1941 that margin tr trans translated ns- ns l into dollars and cents was It has not be been be n computed computed com com- for 1942 but the figure has increased ed in in the last lait year said the auditor by by- reason of the thede de declining clining dining debt and the increasing il assessed valuation I IPer Per capita taxes how however ver have increased ased during the last decade Pare Pace Eight Column COUNTY SEES END OF DEBT Continued from Page On One in Salt L Lake ke county In 1933 was the per capita tax t Is In 1941 the per capita tax was The per capita tax for 1942 h hat not been computed Federal cen sus figures sho showing an increase of persons in the decade Was used to make the computation Effect of the decreasing bond bonded debt was at first reflected In j e growing surplus at the end of ea each h fiscal year Then however th the saving caused by reduction of debt service costs coats seems to have been beer absorbed In government costs until the county was cd with a deficit at the end enc of 1942 the analysis indicates i In 1933 when the debt was a st at it its highest during the decade f there was a deficit of 61 on n overall government operations J By the end of 1937 when the reduction reo re- of the aggregate debt tit hit it its stride and outstanding bonds bondt had been reduced from to the county had a a. surplus mir sur- plus of v From 1937 to 1942 the surplus ste steadily ny dropped from each years year operations operations- until the current def deb was placed on the books u said d Mr Adams Ji All |