| Show STATE NEGOTIATES NJ LOAN The state board hoard of loan commissioners commis commis- has negotiated a temporary loan oan of about for or the tho general gen gen- general general eral fund of the iho state to meet the expense of carrying on governmental tal al affairs arrah's until the 1922 tax tar ta money begins to come in late in the year While the state officials feel that they hey should borrow more perhaps than han the at the present time ime the present heavy volume of outstanding bonds ot of the state which bring the very close to the legal limit of 1 percent per percent percent cent of or tho the assessed valuation of ot property within the state lr prevents further pledging of the states state's credit The assessed valuation of the state approximated by the board of equalisation ration is One and one- one half per vel cent of that gives the a legal borrowing capacity of but Outstanding bonds aggregate aggregate aggregate ag ag- ag- ag hut but from this may be deducted the in the sinking funds leaving an apparent margin of But this titia must be reduced because of oC the loan Joan of i made the state by the Mormon Mormon Mormon Mor Mor- mon battalion fund so that the maximum maximum maximum maxi maxi- mum which the state slate can at this time borrow is n |
