Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1888-05-18

Through 1t you must draw the greatest
revenue; on it you base your plans
and make your estimate for the COM
ing year. can only add my appro-
baton to that of every other intelli-
gent citizen of our county, for the
care and skill manifested in its man.
agemcnt for the past year by your
honorable board. In dealing with this
fund We will go over the transactions
of the whole year. Balance on hand
at beginning Of year, 81 1865, to which
there has been added colleC tions from
delinquent tax rolls of the years 1880
S1-S2-S4-S5-S6 and 81, and the reg
ular tax roll of 1887, land leases, IL
censes, Frazier mortgage, sale of poor
farm, gross earning tax, with many
minor items of revenue, making to-
tai of $2l ,O91 20, less balance on hand
at beginning of the year, a net income
to county fund of SIS, 9,3O4S5, an
amount unusual for Thurston county,
with SO low an assessment. Lest you
be lead astray by these figures in your
future estimates, will mention that
part of this income is only Temporary
That IS, VIII not accrue to the county
fund again. For instance, the license
fund will be reduced As per cent, no
other mortgages to be paid off, gross
earnings tax, etc. This fund has been
expended largely in payment of in
terest coupons, 5000, interest on
county orders 81 1861 and county
orders $12,0S7.33. The outstanding
non-interest bearing county orders
which were issued prior to May LIST,
1887, amount to $325.23 and Of those
issued since, up to and including num-
ber 200, amount to $10l.S7; total
called orders $427 10; of county orders
issued since and uncalled $5,S66.29;
total outstanding May 1st, 1883, &c.
293.39. To pay which there is 81 ,155.-
n in the Treasury, leaving after all is
expended $5,l37 go as county warrant
debt. There were issued during the
past fiscal year $9,923.43, of which
there has been paid $3,955.27, leaving
off the 1887 issue the sum of $685.
Is. This brings us to the subject Of
REFUNDING OF OUR PRESENT OUTSTAND-
ING COUNTY BONDS,
For which you are expected 10 provide.
The $6 900 interest Oh them has formed
formidable draft on our county re-
sources for the past ten years and the
people of Thurston county expect its
reduction at the earliest possible mo-
ment. When that time is, and how
to accomplish the end desired, you
must be guided by your own good
Judgment and that Of your legal adj
viser The new bonds can, from the
best sources of information that have
obtained, be placed at rate of in
terest that will form reduction of ut
least $1,000 per annum and with
premium that will largely pay off the
accrued interest on present bonds at
time of redemption, and thereby re-
lieve your minds in regard to that mat
ter. When new coupons fall due there
will be sufficient OF the 1883 revenue
in hand to meet the interest promptly
and making saving to the county of
81 600 thereafter for each half year.
In order to make sure of this benefit,
the bonds must be issued for the long
est possible term (under the law for
which the county will have use for the
money. The law under which the
bonds are to be refunded makes Is :20's
or fifteen years the basis on which
would-be purchasers will bid and the
succeeding five years the time in which
you can redeem them. Now shall VIC
need the money for that length of
time comes up for your decision. l
answer yes, for this reason, yod are
well aware that the court and grand
juries for several terms past have reg
ularly recommended the furnishing of
new and better court facilities, better
Jail and county buildings. The mat
ter cannot be much longer held in
allegiance. The gravity and necessity
OF the situation is too great to be much
longer postponed. Your honorable
board will have to look this matter in
the face and soon make arrangements
to accomplish the putting up of these
buildings. With the bonds success
fully refunded you will have your OPP
portunity. With no unusual expenses
to meet and with the present revenue
SOheA">A~N' Jul NOuhty oAOCIS Will DS
all paid OFT in about another twelve
month. Warrants would be paid OH
presentation, leaving an interest item
on county order ef frem 81 ,209 to 81 ;
500 and Il coupon interest of say $2,-
OOO per annum, so you see you could
readily, without an increase of taxes,
build and pay for a splendid suite of
county and court-buildings by the ex-
piration Of the bond Then the coun-
ty would be fully able to take up and
pay of the county bonds and thus
leave us practically tax-free people.
Thanking you for the uniform cour-
tesies shown and assistance rendered
me during the past year, the foregoing
is most respectfully submitted.
c. b. MANN,
Treasurer OF Thurston county, w. T.
| A SLIGHT shock of earthquake was