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Show THE SAN JUAN RECORD Wednesday January 31. 1996 Legislation proposed Page 7 State may guarantee school bonds Voters in Utah may have the opportunity to approve an amendment to the Utah Constitution that may keep property taxes down and significantly help public schools. The Utah School Bond Guaranty Act would authorized the State of Utah to guarantee the general obligation bonds of local school districts for school construction. According to Senator Lyle Hillyard, sponsor of the bill, savings to taxpayers could be substantial, apmillion proaching $50-7- 0 over the next 20 years with no foreseen cost to the state. School districts would be able to take advantage of the states AAA bond rating and excellent credit reputation if the state were to place its full faith and credit guaranty on locally voted Duchesne High School has been appointed a Senatorial Page for Senator Orrin Hatch. Wight is a junior at Duchesne High School, where she is active in crosscountry, track, and basketball. She has a 3.95 GPA and is president of the school. She is a daughter of Joe Wight, and granddaughter of Jim and Helen Wight, of school building bonds. The San Juan School Board states that the district is near bonding capacity. Any additional bonds issued directly to the school district are likely to include a high interest rate to counteract the risk. The issue is relevant because of the possible settle- - Monticello. Nothing xliows a man's character more than ulial lie laughs at. Goethe ment of law suits regarding educational opportunity at Navajo Mountain. A bond guaranteed by the state at AAA rates is more likely to meet voter approval. The change would reduce significantly the interest rate paid by school districts who join the program. School building bonds are paid by property taxes. At the direction of the ernors office, the State govOf- fice of Education conducted a survey of each of the states 40 school districts in an effort to determine what level of general obligation bonding could be expected over the next five years. According to Dr. Laurie Chivers, Deputy State Superintendent, Utahs school districts plan to issue some $484 million of bonds over the next five years to build or replace elementary and secondary educational cilities. fa- According to Kent Michie, Vice President of Zions Bank, the expected savings to Utahs schools from the credit enhancement guaranty of the state could exceed $13.7 million over the next five years. Calculated over a period, the savings would approximate $50-7million. It should be noted that if these legal authorizations 20-ye- ar 0 -- V ; H nk' JGVy ' ' Ut. SERVING ALL YOUR ELECTRICAL NEEDS JEFF HUNT TOM PALMER 801 678-2108 801 -- -- 587-3492 Fax 801 - 678 - 3268 CERTIFIED FORD - MERCURY YOUR HOMETOWN are enacted, the ensuing benefits in lower debt service payments will have no real cost to the citizens of the While this may state. sound too good to be true, the said benefits are real, State Treasurer Ed Alter, No Utah school bonds have ever threatened a bond default or even late payment. If passed by a two thirds majority in both houses of the legislature, the constitutional proposition must be presented to the voters in the November 5 General DEALER Temple wedding Blaine Peterson and Trenya Rudd will be married February 2, 1996 in the Manti Temple of the Church of Jesus Christ of Latter-daSaints. A reception will be held in their honor that y evening from 7 to 9 p.m. in the LDS Chapel at 865 West 1000 North in Orem, Utah. An open house will be held in the LDS North Chapel in Monticello on February 10, 1996 from 7 to 9 p.m. Friends and family are in- vited. Trenya is a daughter of Mr. Larry Rudd of Filmore, Utah and Mrs. Margo Jensen of Huntington, Utah. She is a graduate of Orem High and has an Associate of science degree from Utah Valley State College in Orem. She works for Central Bank in Provo. Blaines parents are graduate of Monticello He served an LDS Mission in Oakland, California and works for High School. Hansens Provo. Vending Nakishka Albert Rodriguez boy Liza Bylilly Coolidge Anthony boy Billsie Crystal Perkins and Angelo Billsie TOP 5 REASONS PEOPLE ARE SWITCHING TO COMMNET CELLULAR -- 4 - 15 to 30 minute activation time Home rate follows in all CommNet areas roam charges in Cortez or Farmington (no roam in 9 states) 2 - No long distance on 801 calls from within Utah CommNet areas 3 - No 1997F-15- 0 1 - Up to 70 more air time for your dollar (38 cents per minute) FORD PICKUP Rain or shine, we are ready to deal Certified Ford Mercury Lot 2 97 South Main Monticello 587-229- 8 Commnet Cellular CEDAR MESA ELECTRONICS 333 South Main Blanding, Utah 8451 1 in The couple will make their home in Orem as they continue to work and further their education. IS YOUR CELLULARONE CONTRACT ABOUT TO EXPIRE? 5 By- ron and Kaylene Peterson of Monticello. Blaine is a 801-678-22- 41 Inc. |