Show BOND BOND ISSUE ISSUE IMPERATIVE IMPERATIVE- 3 Duchesne County Merchants and Ind Individuals Embarrassed barr a by Pre Present nt i Conditio Conditions Condition o The r The lack in ih h the county treasury with which to meet the ro road d and nd bridge blidge warrants issued during gI g- g I he last ast two months has worked a great hardship great hardship on man many of f the and the merchants of this county who have ac accepted the warrants in good faith expecting to get their sy y as soon as-soon soon as demand of on the he treasurer could be made Merchants Merchants Merch Merch- ants niS throughout gh ut the the county arc re holding holding holding hold hold- hold hold- ing these warrants with no hope of navi having g them paid this year without t accepting ng a discount of at least least- een cen per cent They have on hand at atthe the che present time tine warrants in amounts mounts varying from a few dollars dollars up toas to as sigh as eighteen hundred Before taking them from the mer- mer hants pants in for payment nt for merchandise m 1 he wholesalers salers are demanding t to snow mow when the warrants are payable Upon investigation tb they y find fine tha that heir is no stipulated date and are therefore unwilling to accept them Banks have been discounting to a limited extent at fifteen per cent e t. t but cannot handle them all even at that liberal reward and some state that an outside bondin bonding house will take care of the warrants with a a tw twenty five nty five per cent di discount count This This' unfortunate state o of affairs l. l fa Is is causing a great deal comment of of comment and materially damaging g the e cre credit credit of of Of the and merchants It is county g generally understood that th the county is s short i. i of of funds this year and that i it is r s necessary C- C essary essary to borrow mone money f or operating expenses The difficulty of gett getting ng the them m money ney liow however ver brings out the fact that there has been from t ten tl to twe twenty 7 ty thousand dollars borrowed on refunding refunding re reo funding warrants from time to time for several years The county for thelast thelast the thelast last year has been paying seven per percent percent per percent cent for th this s money Banks have hav always al always always al- al ways had consider considerable ble trouble in placing pine ing tag these warrants and this year year find it impossible As a result result- people work working working working ing for the county will have to ac ac- a reduction of at least fifteen en per cen cent when they go to cash their pay checks or the county will ill h have ve veto to make out the warrants for enough h more to allow for the dis discount This is going to place an apparently unnecessary unnecessary unnecessary burden the of the essary on people tf county There is n now w 00 in in warI warrants warrants war war- I rants outstanding It will wUl be ne necess necessary essary ess- ess ary to borrow that much fl again a- a A gain to finance the county until next next fall The taxpayers ryers have to pay th the thu interest or that thac borrowed money arcs and and n may y have han to 10 l ry ivy y more orE 1 for r the u wk k done because of the warrants being subject to such large discounts Abond A Abond Abond bond issue seems to be the only way the he county can now be financed without without with with- out increasing the taxes W We h have havo v to pay back this borrowed money and find we may as well have more than One one year in which to do it n n a the me mean r ni t time Duchesne county road warran warrants are su subject to a fifteen per cent dis- dis count Other ther funds funds' will funds will soon be be exhausted exhausted ex- ex hausted lausted so action should be taken at once to make se secure secure ure th the credit of the county r |