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Show BORROWING MONEY AT HALF INTEREST Salt Lake county is in distress and. as a result, has had a measure Introduced Intro-duced in the legislature to allow the county to borrow money at a higher rate of interest than 7 per cent The explanation given for the emergency leglilation is as follow? "Salt Lake county is short of lunds and will bo in that condition until tax payments begin to accumulate As in I past years it was planned to borrow money in anticipation of tax receipts, but the statutes prevent a higher rate of interest being paid than 7 per cent. Money at this figure Is not obtainable, it developed and the commissioner found themselvi 9 unable to pav even the salary' warrants for Januar un less they could secure money quickly In an effort to secure this money thej have asked the passage of the bill." Neither Weber county nor Ogden City has experienced a similar flnan " clal stringency, in fact last ear Og den City was not called on to go out side Its own funds to obtain money with which to meet all expenditures. This was made possible by drawing on the sanitary sewer fund and paying that fund interest at the rate of 5 per cent. Not one dollar was burrowed lrom any bank or other financial lnsti tutkon 1 00 |