Show ate 66 es ay on e c h oo 00 B on d WS E ll 11 M A of E aes al 1 SCHOOL BOND I 1 A ri tt en by sup lt t firsts firsty because of the funds of the school district W 66 are in the detect bank and money Is not avail able to meet past present and tu fu N ture obligations 40 in tax anticipation notes are past due second the 65 Is secured by 85 in mortgages on the best beat property in millard county these securities are in the possession ot of the school district money realized irom from these securities or from the liquidation tion of the bank will be used to pay of the bonds as they mature As a result the bond issue should rid lir crease the taxes of the school dis triet some people have wanted to know why the board of education doesn doean t borrow on the above securities an 1 avoid the boad bond isue the bank could not borrow on them it if it could it would have continued to function to force payment on them at this time would ruin the makers of these securities and to sell them under the hammer would depreciate their value to such an extent they would inot pay out ohp board of aduca tion believes that its proposition to loaf a bond issue will render the greatest service to all concerned what wil be the length of time tor for the bonds to mature answer one to five years what will be the rate of interest the law states that within five days after such election the board ot of education shall meet and canvass said returns and it if a majority ot of the ballots cast at such election are in favor of incurring op oil creating such additional indebtedness and there e upon said board shall be authorized to borrow money at such rate of in terest as may be agreed upon the board of education cannot specify the rate before the election it mair roa indicate it the interest rate of 6 per cent will likely be authorized the amount Is common to 0 some ot of the outstanding bonds of older Is sues present market conditions will likely justify the above rate this election challenges the best judgment of every qualified elector it is not a question of buildings or problems that can be deterred deferred it concerns the present credit standings standing of the district it concerns the chit dren of the present these young people a lives cannot be deferred their time Is now A short school year it if brot n ot charged to the district will be paid for by the parents and tile the children when they enter college it is the cheaper way to meet the present problem of finance it un will create fewer hard ships and difficulties the future Is bright tor for millard county schol district its debt ser vice will soon be retired the first break in the present economic cri sis will make it possible tor for the school district to clear itself from debt tax rates can be reduced they are higher now than necessary if all properly property was paying taxes the fact that certain property does not pay cannot be blamed to the school district it concerns the tax paying public to see to it that this practice is 13 corrected the past year Is an ex capt on with many people due to drought and the depression in fact this past year has presented lems that may never have to be met again in a life time the board ot of education made an earnest effort to meet this years problems and would have done so had it been able to make use ot of its M money oney it reduced its expenses this byear year by 41 as compared with last year it proposes to reduce ex tures for next year in so far as ab it can do without impairing the val ue of the schools certain courses will be eliminated in hight bight schools classes will be combined activities be reduced and transportation will be regulated and benefits reduced the exact amount to be saved can hardly be stated with accuracy 11 6 will amount to several thousand idol 1 lars to vote yes on the bond issue by a majority of voters will retire pres ent money obligations and save the credit of the district and asure the contracted school term for the chil dren and promises to keep taxes from increasing W A paxton A |