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Show I SCHOOLS 3COOLS RECEIVE , , $40,000 40000 $ , , GRANT RAT BONUS BONUSApproximately Approximately ApprO'IClmately ApprOIClmately ' $40 40 $ 000 in cash cash'and cashand cashand 'and and ' its equivalent eqUlvalent . , representing 30per 30 30per 30per per cent of the cost of labor and andmaterials andmaterials andmaterials materials that went into mto Mcab Mcabsneft s sne sneic ne\\ ne neic ne$142000 \ $142 142 $142000 142000 $ 000 school building bUllding was wasreceived wasreceived wasreceived received this week b bv } the Grand Grandcounty Grandcounty Grandcounty county school schoo ) district dlstnct as a grant grantfrom grantfrom grantfrom from the Public Works Wcrks Adminisrta- Adminisrta Admlnlsrta- Admlnlsrta Adminisrtation AdmlnlsrtalIon Adminlsrta-tion Adminlsrta tion - - tion lIon of the federal government Due Dueto Dueto Dueto to legal technicalities techmcahtIes the paymentof payment . of the P W A grant \ was \ as delayed delayedfor delayedfcr I fer for about a ye'1r ye1r ye'ir yeir ye ' ' r but with the final finalsettlement finalsettlement I Isettlement settlement made this week the thefederal thefederal thefederal federal government has fulfilled ItspromISe itspromise its promise to the taxpayeis taxpayels tacpayeis , of Grand Grandcounty Grandcounty Grandcounty county \ who \ ho are 3re thus made the thebeneflclalies thebeneficiaiies thebenef beneflclalies beneficiaiies iciailes cf of f a gift gtft from Uncle UncleSam UncleSam UncleSam theI I Sam repi repiesenting replesentlng esenting about one-third one third one-thirdof one thirdof - , of the value of the ne\v ne v ne\\ neschool ne \ \ school schoolproperty schoolproperty schoolpropertyThe I J I JThe propertyI propertyThe I ( property propertyJ The grant received thJsweek this.week thisweek thJsweekI this.weekI this.weekas this this.weekvas , . . -.weekvas .weekvas - . _ . . . J I ! \ \ as represented by $37 37 $ $37000 37000 $ 000 in 111 can- can canI can-I can I - I celled bonds and $2696 2696 $ 56 in m cash cashtotaling cashtotaling cashtotaling canIII can-II can II totaling $39 39 $39696 39696 $39696When $ 696 696when 696When : When the taxpayers of df the coun ccun- ccun ccunty ccun- ccun ccunty county - - ty authorized authonzed the bonding bondmg of the theschool theschool I school district dlStrict for the nebUl'dmg new ne\\ ne nev \ \ bUl'dmg bUldmg bui1ding bUl'dmgbonds bui1dingbonds buddingbonds ' bonds in the aggregate bUl'dmgI sum of of$130000 of130000 I $130000 130000 $130 130 $ 000 , were , ere ereoted \ ' voted \oted oted 'oted The 1Jonds bonds bondsIiere bondswere I II.ere I.ere Iere Iiere , . sold wId for $130000 130000 $ and aU a1i a'i ai ' of ofI ofthat ofthat ! ! I Ithat that sum together with $12 12 $12000 12000 $ 000 at atcash c ccash ofcash cash from the school distnct district districtsgeneiil s sgenet I I genel genet genel1 \1 1 'tl tl ' \ ' fund was used in m theconstruction the theconstruction construction of the nebuildl11g new ne\\ ne nei \ buildl11g building buildl11grepairs buildingrepairs buildingrepairs , I buildl11gI buildingI repairs to the old high school schoolbuilding schoalbuilding bUlldmg building SChOJIIbUlldmg and . the landscaping landscapmg SChOJII of ofthe ofthe ofthe the school groundsDurmg groundsDuring grounds groundsDuring During Durmg the ! ipencd pencd ericd following follO\\ing follO ing folIothg \ \ the thecompletion thecompletion I Icompletion completion of the building bmldmg and the thereceIpt thereceipt thereceipt theI I receIpt of the P W A . A . . grant , bondc bonds bondsin bondsin ; I m in the sum sum of $10 10 $ 000 matured andweie and andaeie I \.ele .ele aeie \ . paid $5000 5000 $ of these bonds bondsbeing bondsbeing , being purchased ahead of the theII thematurity thematurity II matunty maturity date at a substantial sav- sav say- say savling sayI sav saving - ling I ing These bond ledemptlons iedemptlons , plus plusthe plusthe plusthe the amount of the giant glant receIved receivedth1 receivedthis I IthiS thiS thiSeek th1 \ week \\eek eek leave lea\e lea e 1eae \ a bended bcnded bonded debt of ofonly ofonly ofonly only $83,000 83000 $ , , out of the total tctal cost ofI of ofthe ofthe I the building which was "as as " as $142000 142000 $142 142 $ 000 Inother In Iother other 'a a \ ' words ords the taxpa taxpayers } ers era of Grand Granddounty Grandcounty I dounty at the P1 piesent esent time owe oweonly oweonly oweonly only 58 tpel pel pei ! cent of hte ' cost C'OSt of the thesplendid thesplendid I II Isplendid splendid ne new nev . . , school chocol building which whichhns whichhas whichhas I hns has attracted national attention attentton whichI as asone asone asone I one of the most modem modern educational educationalI educationalpla.nts educationalplants educationalplants pla.nts plants . in m the countryIn country countryIn I In addition to countryI the substantial re- re reductlon reduction - - I duction ductlon in m the bonded debt cf theI theschool theschool the school district dlstnct thstrict effected during the thepa thepast thepa&fc thepafc I pa past & t yeai yeal the schools have no cur-I cur I curIlent cur- cur curient cur-lent cur lent - lent ient indebtedness mdebtedness and sufficient sufficientfunds sufficientfunds I , funds are on hand to can carry " ) main- main mainII maintenance main-j main j - tenance expenses until July Ju1y 1 , 1936 1936without 1936without II IItenance without borrowing borrowmg |