Show WAYS AND MEANS FOR REDEEMING BONDS Council Holds Special Meeting to Discuss Ferry Reso Reso- lution According to lo W. W Mont Ferry of thc lic city council If Salt Lake tIDes does counci al JMIe not nul provide pro pro- vide ide u n three mill I levy to meet thu bonded In indebtedness of or Iho tho city hero thero ac are arc three alternative I First The First Tho Tho cl city will wU have Jm c to stop public Inlo Improvements Second Raise tho ho valuation oa on 01 oily city cit property ty Third Third Forfeit Forfeit the tho bonds I This statement was made to lo a 0 meeting of tho the city council last laL night called for foi oJ the purpose of discussing Councilman Ferry's Ferrys r to lo ask the legislature to pass n a law granting grant grant- rantIng rant rant- ing big thi th the council th time the power to In I set a aside a a lug Ing IuS portion fund Cund of or tile tic tax ax Icv levy for a a i sink sinkIng ln Taxes cs H at t the hue lle Limit h Although tl the lie cl city at nt the he lime hue o or of orthe fixing the tIle tax lax iw levy last July tool took half a mill 11 away from om other Cm fund ls and added another mill mi by hy ai an Increased levy thus creating one mIll mil mi for foi a to In meet the lie h bunds whon they become due It was by no nu means mean enough mou h. h The flie sinking fund rund created by ly a 1 one mill 01 levy will wi not begin to meet time the bon ls when thc Lucy due and Ull a as the Iho 11 state I to law la limits the time city to lo time the amount of the Lie tle levy it I rhal hall lal make for 01 all al purposes Salt Sal Luke Lake Is ls up Uj u against it ii and auth will wi eventually have to provide a n sinking ln fund Cund No 10 action was taken last night bu but some sonic definite action will trill wi 1 be arrived at in a short time since it i is IH recognized that the 11 days s 's of or the time le legislature arc dc getting geling short and action will wili wi have ha e lo 10 b be taken nt itt once nc In order to lo effect ceet ell cil the hie remedy d desired by the city coun clun |