Ogden Standard-Examiner | 1920-06-05 | Page 5 | Heavy Demand Seen on Auto Tax Fund

r! HEAVY DEMAND SEEN ' ON AUTO TAX FUND SALT LAKE, Juno 5. There will bo a heavy demand upon the auto A-?r' tax fund this year according to state officials this year and in i spite of the fact that the, revenue to be collected by the state through the motor vehicle license taxi will reach a total never before attained at-tained it will bo unequal to tho cx-i traordinary demands to be made upon I 1 it. This means that the state general i fund will have to be drawn upon fori f a part of the semi annual interest! on the state road bonds due on Jan- I uary 1, 1921. I According to State Treasurer Daniel J ' O. Larson, the present balance in tho ' state motor vehicle registration fund is $2S0,00'0 in round figures. This. will not be quite sufficient to mcetj I tho Interest of 5101.000 due on Junci I 30 next, because before that time the I ' fund will have to bear the cost of selling the last Jl.-170.000 of state road bonds. The law provides that the cost of selling these bonds is to be borno 1 by the receipts from automobile II- censes. Tho bonds may not be sold at I less than par and accrued interest, which moans that the state road funds j will get the face value of the bonds for spending1 money. J