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Show Question Hampers Budget Planning Revenue-Sharin- g Uncertainty surrounding renewal the Federal revenue-sharin- g program, scheduled to expire at the end of 1976, is creating a problem for state and local governments with respect to budget planning. This fact was emphasized in a study of Federal revenue sharing in Utah just completed by Utah Foundation, the private tax research organization. The Foundation report notes, for example, that the Utah Legislature which is meeting this month in its budget session will have to formulate a state budget for the 1976-7- 7 fiscal year without knowing how much revenue will be available from revenue:sharing sources next Under Federal revenue sharing, funds are automatically and regularly disbursed to state and local units without the extensive restrictions that are attached to other Federal grant programs. Advocates i case if ized in sharing into their regular operating programs. The state, for example. in- now P.1311 revenue-sharin- g come into the uniform school fund where it is used to support the NOTICE OF TRUSTEES SALE The following described prop- erty will be sold at public auction - is central- - changes on ft handfpoint out that the the Federal government has not been Congress in 1976 witt depend on 2 Ce funds to recurring items. expenditure As a sidelight, the Foundation study points out that one of the Since enactment of the program major arguments used in the revein 1972 through the fiscal year debates of the late ended June 30, 1975, a total of 1960s was that revenue sharing $120.3 million in Federal revenue- - would help eliminate the fiscal sharing funds has been distributed drag that results when Federal to 250 governmental units in Utah, revenues tend to rise faster than Except for a small amount foing to Federal expenditures. Proponents Indian tribes, approximately one- - argued that once the fighting ended funds in Vietnam, Federal receipts would third of the revenue-sharinlikely rise much faster than Federal spending, creating a substantial nue-sharin- g g tion analysts point out that if this sum has to be raised through a statewide property tax, a levy of approximately 13 mills ($13 per $1,000 assessed valuation) would be required. Because of a smaller budget surplus which would place a damper on economic growth in the nation. One study made in 1967 predicted that by 1975 Federal revenues would exceed Federal expenditures by $30 billion. In reality, the latest estimates indicate that instead of a Federal budget surplus, there will be a Federal budget deficit in excess of $72 billion during the 1975-7- 6 fiscal year. Labor Department Reduces Paperwork Required Under Pension Reform Law than 100 participants throughout the plan year. This fewer The U.S. Department of Labor has announced its intent to make changes that will reduce paperwork for the 600,000 private pension and welfare plans nationwide required to file reports with the government each year. The reports are required by the Employment Retirement approach should reduce the burden and costs to small plans while still providing adequate protection to their participants. Act of 1974 (ERISA). Four revisions of the requirements were spelled out by Henry C. Lee, area director of the Labor Management Services Office in Denver for Colorado, Montana, Utah, and Wyoming. He said that these changes should help make reporting, less expensive and less for plans with few100 er than participants and that from comments reresulted they ceived from the public on earlier proposals. The revisions are: The Internal Revenue Service and the Department developed the first change (proposed in the Federal Register of Sept. 30, 1975), an annual report from 5500C for pension and welfare plans time-consumi- non-Keo- with under 100 gh participants. (Keogh plans are for the This form 5500C is three e shorter than the pages form 5500 required of larger plans. Waiving the requirement for an opinion by an independent certified public accountant for plans with self-employe- five-pag- Dr0Derty; 1972 Chevrolet Cheyenne Special Pickup V8 4 Wheel Drive Dated this 14th day of January, 1976. MURRAY FIRST THRIFT AND LOAN CO. 1-- 23) (1-- 16 title COMPANY, as urity Trustee under the Deed of Trust P? revenue-sharin- g Income Security non-acce- vje(j By Greg Curtis vestors, a limited partnership, as Trustors, and recorded June 23, 1972, as Entry No. 2465495' in Book 3093 at pages 484 of the Official Records of Salt Lake County, Utah, given to secure an indebtedness in favor of U.S. Communities, Inc., a Delaware Corporation (now owned and held by Continental Illinois Realty) by reason of the breach of certain obligations secured thereby. Notice of Default was recorded October 7, 1975 as Entry No. 2749256 in Book 3991 at page 480 of said Official Records. Trustee will sell at public auction to the highest bidder for cash, payable in lawful money of the United States at the time of sale, without warranty as to title, possession or encumbrances, the following described property at approx. 2700 W. 2700 S., in the City of Salt Lake County of Salt Lake, State of Utah: PARCEL NO. 1: BEGINNING at a point on the South right of way line of a canal said point being North 89 56' 05" East along the section line 50.00 feet and South 0 05' 10" East 35.00 feet from the North quarter comer of Section 28, 1 South, Range 1 West, Salt Lake Base and Meridian, and running thence North 89 56' 05" East along said South right of way line 1031.40 feet to the West right of Township line of way and State Freeway Project thence South 3 35' 28" East along said West line, 1627.565 feet to the Northerly right of way line of Utah Power & Light Company; thence along said Northerly line as follows: West 134.03 feet; thence North 51 52' West 745.30 feet; thence North 97.50 feet; thence West 124.30 feet; thence North 51 52' West 195.90 feet; thence North 34 55' West 233.32 feet to the East line of proposed 2700 West Street: thence North 0 05' 10" rather than the West along said East line months previously proposed. 753.19 feet to the point of For more information, please call BEGINNING. the Denver LMSA area office at PARCEL NO. 2: 303 BEGINNING at a point on the North right of way line of a canal, said point being North 89 56' 05" East along MR. EXECUTIVE Section line 50.00 feet and NEED SECOND INCOME? 0 05' 10" West 35.00 North Exceptional opportunity to feet from the North quarter help manage my growing corner of Section 28, Townbusiness. ship 1 South, Range 1 West, Salt Lake Base and MeridMr. Ed P.O. Box 1776 ian, and running thence Salt Lake City, Utah 84110 North 0 05' 10" West non-acce- ss Only defined benefit plans subject to the minimum funding standards for the year actually being reported on are required to provide actuarial information and a statement by an enrolled actuary as part of their annual reporting obligation. As a result, very few plans will be required to file such data for the first year the new report forms are in use. The Department is giving filers more time. Annual report forms must now be filed seven months after the end of the plan year 15; four-and-one-h- 837-320- 3. (1-1- 6 3) 307.42 feet to the South right of way line of pro- posed 2700 South ss 15; to the highest bidder on the 10th day of February. 1976 at 10:00 Founda- A.M., at the front door h j tion anSysts printout that the Salt Lake County Court st Suit Leke City, Utah m u vulnerabihty of units m Utah to My Count ot Salt by SEC. revenue-sharin- g enacted woulfbX derision-makin- g South, Salt Lake City, Utah, at 12 Noon to partially foreclose chattel mortgage dated Robert April 21, 1975, given-bL. Burton as mortgagor to Murray First Thrift and Loan Company as mortgagee and recorded with Utah State Tax Commission upon which is due on this date the sum of $17,334.79 which covers the following de- 4225 s thence North 89 55' 56" East 146.31 feet along said right of way line; thence 38' 14" East South 80 122.06 feet along said right of way line; thence South 81 55' 54" East 282.54 feet, along said right of way line; thence South 88 50' 38" East along said right of way line 466.27 feet to the West right of way and line of State Freeway thence South Project 3 s 35' 28" East along said West right of way and line, 237.97 feet to the North right of way line of canal; thence South 89 56' 05" West along said North line 1027.105 feet to the point of BEINNING. for the purpose of paying obligations secured by said Deed of Trust including fees, charges and expenses of Trustee, advances, if any, under the terms of said Deed, interest thereon and the unpaid principal of the Note secured by said Deed of Trust with interest thereon as in said Note and by law provided. Dated: January 6, 1975. SECURITY TITLE COMPANY, Trustee By CRAIG F. THOMSEN, Vice President non-acce- statewide average. funds Whedn revenue-sharin- g in Utah three first were received some skeptiyears ago, there was cism concerning the permanency of the program. In the case of the state, for example, the funds were earmarked for nonrecurring expenditures and the Governor recom- mended that Utah keep its budget in such a condition that we could adjust to a discontinuance of revenue sharing without an undue abandonment or curtailment of ongoing programs. Despite this early caution, the Foundation report observes that many governmental units have gradually incorporated revenue oiiu., roe?Lt0nPennirp0Vtn Consult clerk of the District Coart or the respective signers for further information. NOTICE OF SALE rvenue-sharin- g funds all sold on Saturday, JanTo be replace would be even greater than this uary 24th, 1976 at 1595 East year. the functions of govern- Miscellaneous Notices property tax base, the total levy required in most of the cities to of ft more Page Five FRIDAY, JANUARY 16, 1976 THE SALT LAKE TIMES Street'; (1-- 2-- 16 ss 6) NOTICE OF SALE To be sold on Monday, Jan- uary 26th, 1976 at ADELA DEVELOPMENT CORI, Plaintiff, VS ERNEST AND KATIIY BAKKER, Defendants. To be sold at Sheriffs Sale at the County Courthouse in the City and County of Salt Lake. State of Utah, on 10th day of February, 1976 at oclock 12 noon of said day that certain piece or parcel of real property situate in Salt Lake County, State of Utah, described as fol- lowc tn-u- fit All of Lot 24. Cottonwood Salt Slopes Subdivision, Lake County, according to the official plat thereof filed with the Recorder of Salt Lake County. Purchase price payable in lawful money of the United States. Dated at Salt Lake City, Utah, this 12th day of January 1976. DELMAR L. LARSON. Sheriff of Salt Lake County, State of Utah. By Keith L. Buckner. Deputy Docket No. 92260 Richard A. Rappaport Attorney for Plaintiff Date of first publication Jan- uary 16, 1976. (1-1- 6 2-- 6) SHERIFFS SALE DISTRICT COURT EXECUTION Civil No. 230467 In the District Court of the 2000 West 3500 South, Granger, Utah, at 12:00 Noon to partially foreclose Third Judicial District in and 14th, 1975, given by Valerie J. Olsen as mortgagor to Murray First Thrift and Loan Company as Mortgagee and recorded with Utah State Tax Commission upon which is due on this date the sum of $3,068.46 which covers the following described property: 1972 Chev. Impala 4 Door Sedan Serial No. 1M39S2C122754 Dated this 15th day of January, 1976. MURRAY FIRST THRIFT RONALD R. WINEGAR, TERRY K. REID and SIDNEY M. HORMAN, chattel mortgage dated August for the County of Salt Lake, State of Utah. MURRAY FIRST THRIFT & LOAN COMPANY, a Utah corporation, Plaintiff, VS Defendants. To be sold at Sheriffs Sale at the County Courthouse in the City and County of Salt Lake, State of Utah, on 10th day of February, 1976 at 12 oclock noon of said day that certain AND LOAN COMPANY piece or parcel of real property By Tom S. Capece situate in Salt Lake County, 6 State of Utah, described as follows, NOTICE Lot No. 3 SUNBURST VILCivil No. 3390 LAGE NO. 1 according to In the Third Judicial District the plat thereof, as recordCourt of Salt Lake County, State ed in the office of the Salt of Utah Lake County Recorder. In the Matter of the Adoption of: Purchase price payable in lawNICOLE PARKINSON, ful the United States. of money Minor Child. Dated at Salt Lake City, Utah, TO THE NATURAL FATHER this 12th day of January 1976. OF NICOLE PARKINSON, DELMAR L. LARSON. Sheriff MICHAEL PARKINSON: of Salt Lake County, State of Please take notice that Mark Utah. James Nelson and Nancy P. NelBy Keith L. Buckner, Deputy son, your former wife, have filed Docket No. 92265 a petition in the M. Lewis Kay Court seeking the adoption by for Plaintiff Mark James Nelson of Nicole Attorney of first publication JanDate Parkinson, your child. A copy of the Petition for uary 16, 1976. (1-Adoption, together with a copy of the Motion and Order signed SHERIFFS SALE DISTRICT COURT by the Court providing for the service of this notice upon you ORDER OF SALE and granting you 20 days after Civil No. 231387 date of service to answer or In the District Court of the otherwise object to the Petition, Third Judicial District in and may be obtained by contacting for the County of Salt Lake, the County Clerk of Salt Lake State of Utah. PEGGY GRIEGO, now County or Dwight L. King, Attorney at Law, Suite 205, 2121 PEGGY OMANA, South State Street, Salt Lake Plaintiff, VS City, Utah 84115. Unless an objection is filed JOHNNY GRIEGO, with the Third Judicial District Defendant. Court Clerk or served upon To be sold at Sheriffs Sale Dwight L. King, attorney for at the County Courthouse in the petitioners, within 20 days from City and County of Salt Lake, the publication of the last notice State of Utah, on 10th day of of the Petition, which will be February, 1976 at 12 oclock published once a week for four noon of said day that certain consecutive weeks, then the piece or parcel of real property Court may grant to petitioners situate in Salt Lake County, the right of adoption prayed for State of Utah, described as folin said Petition and terminate lows, Lot 117, Paramount Park, your right to have care, custody or control of said child and exNumber 1 Subdivision, Salt ercise jurisdiction over her as Lake County, State of Utah. her natural father. Purchase price payable in lawPLEASE GOVERN YOURful money of the United States. SELF ACCORDINGLY. Dated at Salt Lake City. Utah, DATED this 9th day of Janthis 13th day of January 1976. DELMAR L. LARSON. Sheriff uary, 1976. DWIGHT L. KING, of Salt Lake County, State of Utah. Attorney for Petitioners (1-By Keith L. Buckner, Deputy Docket No. 91732 Leland S. McCullough SHERIFFS SALE DISTRICT COURT Attorney for Plaintiff Date of first publication JanEXECUTION (1-1- 3) to-w- above-entitl- it: ed 16 2-- 6) to-w- it: 16 Civil No. 210847 2-- 6) In the District Court of the Third Judicial District in and for the County of Salt Lake, State of Utah. uary 16, 1976. (1-- 16 It 2-- 6) its printing. ..dial 3648461 |