OCR Text |
Show WEEKLY REFLEX DAVIS NEWS JOURNAL, AUGUST 23, 1979 VS .A V, By GARY R. BLODGETT HILL AFB - The Enterprise, riding piggy back atop a huge Boeing 747 jet, landed at Hill AFB last week-mu- ch to the pleasure and awe of more than 50,000 persons. THE JET and its space cargo touched down at the northern Utah air base about LAYTON The luck of the Irish seems to be .paying off for Joe B. and Leah Adams of THEIR three-yea- r Sport airi ficial governments may also contract general obligation debt within limits set by the State Constitution. A RECENT general obligation million, according) Utah Foundation, the research private, debt of Utah $125 WHEN obligations contracted by local agencies of government are added in, the total exceeds a half billion dollars and the amount to be repaid, including interest as wetl as principal, exceeds $1 billion, the Foundation notes in research report released week. Revenue bonds, which are revenues from repaid generated from facilities or projects constructed with the boitowed money, are widely used by states and local government units to finance a . but they subdivisions, nevertheless remain valid obligations which must be repaid. If a political entity REVENUE halls, A was-issu- joying natures garden pleasures, the year's Legislature har-vest-a- a Utah Housing Finance Agency to make and participate in mortgage and construction loans for low and moderately priced housing whep adequate financing is not available from private lenders. Revenue bonds issued to support this program to date total more than $205 million, of which 98 percent is outstanding. While the use of revenue bonds by the state is of com- A Adi dfc A the last lazy, hazy days of summer. spa 1. Name the baseball player who hit safely in 56 consecutive games. 2. Who Won the British Open golf tournament? ANSWERS TO SPORTS QUIZ 1. Joe DiMaggio. date, A BONDS coold The last full month of summer, August, finds most high school and college students back at desks. AUGUST, then, has a nostalgia as the last of summer; and as John Parris, the veteran Appalachian Mountain writer says, August in the hills and mountains is summer passing, with autumn just beyond the hills. In the South, August and September remain hot all month long, but for most of the country August is summers last fling. Its time for canning and freezing, en- revenue bond of $47.4 million in March, 1979 to finance this program. recent Fiscal August specific although since prior legislative .approval is required for individual projects. Amounts .still out- -' standing on campus revenue bonds on June 30,1 1978 were moffe than $49 million. A; student loarvprogram, tied' to the Federal student loan! program, waslauthorized by rihe Utah Legislature in 1977: The program is financed by 6 revenue bonds and guafanteed by agencies of the revalue bonds have long been used by local government entities to finance projects (e.g. water and Local sewer systems). study by the Legislative be especially vulnerable in such a situation, and there might be a substantial difference in the status ol different types of revenue bonds, the Foundation says. Bonds to finance water and sewer systems, for example, would probably continue to generate revenue in the hardest of times, as these services are absolute necessities. The situation with revenue bonds for, say, a student union building or a field house might be very different in a prolonged period of tight money. 1972 paratively When a recipe calls for shaved chocolate, use your vegetable peeler on slightly warmed semisweet chocolate squares. THE HORSE is sired by Irish Charge T.B. and the dam is multiple ROM producer Veeola Sport, tb forms may offer advantages permitting needed construction to be carried out in advance of rising inflation, and while revenue bonds in particular allow substantial benefits to be realized without imposing any additional burden on taxpayers, extended debt might become a seriously liability if the economy should take a sharpdownward turn, the Foundation points out. institutions, created TVVVV, of student union buildings, field houses, and stadiums. The 1947 law validated revenue bonds previously issued by the institutions without legal authorization. AT THE present time, the State Board of Regents is authorized to issue revenue bonds for all of Utahs 1975 wife, Mr. and Mrs. Ernest Thomas of Salt Lake City. tion notes. While bonding in all its UTAHS general obligation debt of $125 million, pledging "full faith and credit of the state, has been acquired since 1965 when Utah reversed its traditional debt-fre- e policy to flbat a $67 million bond for and construction capital improvement of state parks. Additional general obligation bonds were issued in 1975 ($75 million) and 1978 (two issues of $25 million each). Use of revenue bonds by state agencies was first officially authorized in 1947 when the Legislature empowered the University of Utah and Utah State University to issue such obligations for campus projects such as dormitories, TtJE the world of horses. Ive been in the horse business all of my life and my father was in it before me. I learned all I know from him. compliance where they may not now exist, the Founda- were to default on a revenue bond, its ability to market similar obligations in the future1 would be seriously impaired. Government. for .Harry celebration Thomass brother and his ing requirement, and the Legislature should study of means requiring debts of the state or its local Federal seconds which is a speed index of 96 and AAA time. Mr. Adams is no stranger to ALL AVAILABLE means to insure 'Compliance with the report-hel- d Utahs Supreme Court has that these are not legal . derby, finished in 20.30 Vbould be employed tiorj, and operating programs. dining Irish state and local government units, including both general obligation and revenue bonds, of some half billion dollars, with the total to be repaid in both principal and interest exceeding $1.2 billion. The report noted that the figures are incomplete, and that at the present time there is not a state agency or office that is completely aware of the size of the state and local government debt. Local governments are required by law to file yearly financial audits with the State Auditor, but many reports are delinquent or inadequate. non-prof- it kitchens, Layton Mr. and Mrs. Charles McCoombs and their family have returned home after vacationing in Yellowstone National Park. Mr. and Mrs. Harry Thomas are visiting with friends and relatives living in many northern Utah communities. Last Sunday, they attended the Golden Wedding Analyst disclosed total debt of agefocy. thi ble for a 1979 tax refund. Forms are now available at your mobile home park or help can be obtained at your nearest senior citizens center or the Council on Aging office has taken four firsts and one second and has broken one track record is recent competition, including a first in the Utah Fall Quarter Horse Derby sponsored by the Utah Quarter Horse Association. That win brought a $5,125 purse and demonstrates the successful team of owners and breeders Mr. and Mrs. Adams, trainer Blaine Hadley and jockey Shawn Hadley. IN THE Revenue bonds outstanding against agencies of the state oftUtah add to nearly $300 million, considerably more than double the states of- Senior citizens who live in mobile home parks are eligi- year-ol- d Layton. 2. Sevfcirdano - 3. Ballesteros. Los Angeles Dodgers. rfh program and subsequent flights of the Enterprise. Tan Ko) With four firsts and one second, three- -' Irish Sport is going hot and bringing benefits to owners Mr. and Mrs. Joe B. Adams of Layton. A REAL WINNER 10 a.m. Tuesday and was parked at the south end of the field while the huge crowd was able to get a distant look, and pictures, and the giant bird. On hand were scientists from the National Aeronautics and Space Administration (NASA), which is responsible for the shuttle n in Farmington. REFUNDS WILL include a general refund of $109 minimum in addition to extra amounts allowed for people 65 years of age or over with a household income of under per year for 1978 and for widows or widowers whose 1978 income was also under $7,000 THEY TOLD newsmen that the first shuttle flight into space with the experimental Enterprise is expected in about one year (July 1980) from the Kennedy Space Center, Florida. Test flights will also originate from the opposite end of the continent at Vandenberg Air Force Base in southern California. NASA officials said that within a couple of years, after People who do not fall within the low income level should apply for the general mobile homeowners portion of the refund. your 1979 tax receipt must be attached to your refund claim, dmg A COPY of a part in the shuttle program since Thiokol Corporation near Brigham City is responsible for the two reusable rocket boosters used on the shuttles. the space ship flown in the television series, Star stopped at Hill AFB while on a public appearance jaunt across the United States en route to Californias Mojave Desert where it will continue its testing program. Trek" spokesman said the space shuttle program will cost about $8.5. This will include many flights by the Enterprise and many experimental flights of four other space craft that will go into orbit and return to earth. , sub-orbit- al THE SPACE craft takes off from the mother ship like a rocket, can maneuver in earth orbit like a spacecraft and return to earth, landing at a speed of about 250 miles per-hoy on a hardsurfaced run-wa- 10,000 to 15,000 feet long. 1 The NASA spokesman not; ed that each space craft can be reused for as many es 100 times. He said that a pool of newsmen may be able to take a ride in the craft as early as that each of the craft will cost about HE EXPLAINED East Layton Montessori "WHERE QUALITY EDUCA TION IS A REALITY Breakfast - Hot Lunch Ages 2 Ms thru kindergarten Session or all day Qualified Personnel ENRICHED CURRICULUM Sensorial Awareness Phonetic Reading French - Sciences Mathematics HOURS: 6:30 a.m. to 5:30 p.m. KAAREN MANNING - CHARLENE GREENWELL 1323 E. lOOO N. 376-033- 8 ! only once. Utah will have THE enterprise named for A NASA $7,000. $500 million and a single flight into orbit and return will cost between $20 and $40 million. This compares to about $460 million spent for each Apollo moon craft flown the space craft is completely operational, the Enterprise is expected to take regular flights extending from seven to 30 days at heights up to 600 miles above the earth. East Layton : : ! : |