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Show )i DESERET NEWS, MONDAY, NOVEMBER $22.5 million S.L. money vault empty Continued from Page B-- l ' agreement notes and time certificates of deposit. The commissioner also praised local banks for cooperating with the city on the short term investments. Phillips said the banks also perform other services for taxpayers by assisting the city in other matters, such as keeping computer tabs on financing at no cost to the city. Banks also count money collected from parking meters, a time consuming task once done by city employes. The banks maintain the revenue from the meters, providing the city with quick and accurate statements, also at no cost. Phillips said. business relationship rth local banks. He said all the banks in the city do business with he and Fakler. But whoever gets our money pays for it, Phillips added. The commissioner said there is now a high demand for money, even though interests rates are high. This means the city has little trouble finding banks to bid for the available money. That available money comes from revenue tax sharing, collections, various fees, departmental funds and interest earnings. Were dealing with the Phillips said, taxpayers money, and we think that money The entire investment program began with Phillips' investment of money received in 1961 from a bond issue for capital improvements. Taxpayers are still paying off that $19 million bond issue with five and half mills of their property tax. However, investment of .he money from that bond issue has earned nearly $2 million, and Phillips said the debt service can be paid off by 1960 instead of 19S2, as originally planned. He said this means the five and a half mill levy will be eliminated earlier than expected. Phillips and Fakler see very little cash during the year, hut when the cash flow is tallied, more than $750 million has come into and left their hands each year. hm. . m otnrt .;n1rl bu.uaji y.iu yvsMuie. i iu; returns have the effect of reducing taxes. chroiM ffttnrn f Vtr The two financial experts must also knew what the money market is doing. For example, the city often invested in U. S. Treasury Bills, which Yielded high interest payments. Those bills now yield a low rate, and the city has taken its money elsewhere. Interest rates on other investments have been steadily rising, and if the city had entered into long term investments when rates were low it would have meant lost money, Fakler explained. However, if one type of investment is reaching an interest rate peak, Fakler will lock money into it on a long term basis so when the interest rates drop the citys money will continue to earn the higher rates! Jimmie Valentine may be able tc get inside the vintage safe inside the metal room in the Building, but all he would get So The city has no investments ir. stocks, Phil-- ' lips said. Money is usually put into repurchase Summit County Democratic Chairman James B. Kilby charges that of the 330 new registrations, many are transient residents who should not oe allowed to vote and control a municipal election allowed to vote. A lot of them will come back to Park City because they love it, he said. About 200 of them registered the last registration day, and Summit County Clerk Reed D. Pace said most of them said they were from California. Wade, an employe of a home builder operating in the area, insists that the new registrations are perfectly legal under recent court edicts. There are a lot of kids liv long-rang- Sen. Barry Goldwater, told a news conference here today that the downfall of President Nixon wil be the result of the President's refusal to initially turn over the White House tapes dealing with Watergate matters. Goldwater said the President's decision was a foolish action and that the entire controversy surrounding the tapes could have been cleared up long ago of the President had cooperated from the beginning. He said it is not yet time to call for Nixons resignation. He said only the President can make up his mind to resign but that people can put pressure on him to do so or on Congress to impeach the Presi dent. He criticized environmental hinder" who "extremists the construction of any type of power plant. He noted that UPL has been confronted with dramatic cost increases in the last year and said the substantial increases must be borne by customers. Asked what he thought of a few Republicans' siztements callig for impeachment or resignation, Goldwater said suchpoliticians will grab any political handle they can find. He mentioned Sen. Edward Brooke. specifically. Asked about a report Saturday that he and columnist William F. Buckley had predicted a startling development in the Watergate affair within the next few days, Goldwater said. This incident is a very bad reporting example. He said that when Buckley and himself were approacticd by a reporter at a coffee shop in Wichita, Kan., neigner made any comment at all to the reporter. Officials cited the example of heavy oil used to fuel power plants. Since this has nsen September 1972, in price from 25 cents per million BTl's per 90 cents per million. Anderson emphasized that UPL to the will come crossroads in March 1974, when the company must begin constructing the plant to be become in operational During his speech, he said the people of the country have to become educated on the consequences of becoming a weak nation. He defended Nixons military alert over the Middle East as necessary to keep Russia in its place The lead time required for new generation has increased by some three years due to a profusion of government regurelations and views at every level in meeting the national concern with the quality of the environment, Anderson said. 3 g out that UP&L deal with the federal government constantly with respect to these clearances He pointed must because 73 percent of the land in Utah is federally or state owned. line was aptransmission proved and placed in operation in 1971 in less time than it takes today just to get approvals to go ahead. Also, about two years is required for an environmental impact statement on a new generating plant to be written and processed, he said. "A way must be found to break this bottleneck to avoid having an unnecessary energy shortage caused by too much paper work rather than a shortage of fuel, Anderson declared. HHHe said that a Voters to name 3 to council Three board members of the Cottonw ood Heights Community Council will be selected by voters from six candidates Tuesday in balloting at the Cottonwood Heights Community Spa, 7509 2700 East. The candidates are, John Shelton, 2476 Dolphin Way; Irby Arrington, 2"21 E. 7260 South; Gary Paul Bvwater, 1920 E. 70th South; Gary 7725 Silverlake Dr.; Lloyd, Edwin Sommer, 2263 E. 7160 South, and Robert Wamick, cumbent, 2729 E. 7260 South. vAwrnis luxurious look to your bathroom, and plenty of extra storage spaee. We are experiencing great difficulty in getting the federal clearance necessary for Diant Ln a construction timely fashion, he added. r in- a Add 1977. is nostalgia. ing in the big apartment house that caters to skiers. They are planning to stay here during the ski season. They should be on B-- y Confnned from Page l the city and the resort company or the people will be the losers. B-- Continued from Page l e ter. but a supply is difficult to obtain, he added. Future power plants include the possible use of coal, geothermal energy and nuclear power, but coal is the most at least likely possibility, through the 1990s, Bryner stated. (AP) Park City election w ntroversy sizzles B Power adequate, UP&L says Topes downfall, Idwater says LOGAN 5, 1973 EfCTPiSiUnD ilLIUIIUm 6 o rvr uii 1 jaXJOy womens and childrens waterproof boots Wilking is an employe of the resort company who moved to Park City several years ago. Wade was a ski patrol member 10 years ago, who made his residence in Park City one year ago. W'ilking and Wade say their connections with the resort company have nothing to do with their candidacy. They take the position that new leadership is needed to bridge the gap of suspicion between e residents and the resort company so as to allow long-tim- city problems to be solved. Variety of subjects at free public lectures Free public lectures on a variety of subjects have been scheduled during November in Utah of the University Marriott Library Auditorium. All will be held at 12:05 p.m. covOccult Explosion, ering beliefs and superstitions of magic, alchemy and astrology, will be discussed Wednesday by Ms. Sharon Naccorotto and Ms. Vickie Moffat. On Thursday Dr. Gale Dick, will of physics, professor speak on Skeletons in the Ms. of Science. Closet Stephanie Churchill will presfilm on City ent a of the Great Salt Lake Nov. 14. and slides on Escalante to Reality: Escape A discussion Wilderness will be presented by Ryan Hoover Nov. 27. Miraculous Acupuncture: Cure or Quackery" will be the subject of a discussion and demonstration Nov. 28 by Dr. Carter M. Ballinger and Dr. Victor Kassel. WSC will present Mark Twain visit OGDEN Mark Twain will visit the Weber State College in the campus Thursday person of Tom Noel. Noel will present his acclaimed Mark Twain at Home a special during convocation at noon in the Fine Arts auditorium. Save now before it sets wet! ' mmsim piacs mmemmi TO THANK MY MNY FOUNDS? Thcrtk you oti from tba bottomed my heart for your faith confidence inmeoi your Soit Lake City Auditor! end You hove made it dear to all your desire for me to serve another four years in that office. And for this, I thank I csk one more favor of you? To you aj well. But, may insure ine legal exercise of your option, PLEASE MARK THE BALLOT BOX NEXT TO MY NAME! Sincerely, Lawrence A. Jones J05S were $8.99 to 5.99to 7.99 $12.99 were This selection is just womens sizes and theyre high style, high rise boots that are waterproof, and have pile linings for real comfort and warmth, Lots of womens boots and a number of childrens boots in this selection. With linings to keep cut When the temperatures drop and the weather gets slushy, youll be glad you were smart and saved of before it happened. 70 the biting cold. selection in childrens sizes, 30 in womens. CHARGE IT 812.97 to $16.97 on Sears Revolving Charge AI! Regular Prices in 1972 , e!W f.w were (Vote000 I.."1 Hurry! Quantities limited. Shop Sunday Noon till 5 p.m. (Logan and Provo closed Sunday) The gk,e place Sears-Lega- Salt Lake Shop Mon. film SHOP AT SEARS AND SAVE fri. 8:30 a.m. till 9 pja. Saiurdiy till 6 p.m, Sunday Hmw fill 5 p Satisfaction Guaranteed or Your Money Back A Place Mall She? Mon. 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