Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1892-02-22
TERRITORIAL FINANCES.
The Bonded Debt and Provision for its
Payment-The Auditor and Coun-
ty Tax Levy,

g In responee to inquiries by Hon. Deme
:, trio Perez, territorial auditor, Solicito
, General Bartlett has rendered the follow
ing opinion:
ln regard to the amount OF levy which
you should certify to the different county
boards for the present fiscal year, would
say the finance law Of 1891 provides al
section e, that for territorial purposes for
the 44th fiscal year there shall be levied
during the 43rd fiscal year upon each dollar
OF taxable property in the territory OF New
Mexico the following tax. viz: 65O-10O
mills on the dollar.
| have no doubt that the words "territo-
rial purposes" used in this act were only
intended and meant by the legislature to
include the current expenses of the terri
tory, that is, for the maintenance of
courts, administration of Justice, salaries,
current expense of capitol and peniten-
tiary, and other miscellaneous expenses
necessary for the maintenance of the ter
rltorial government, and that the levy
necessary to meet the interest on out
standing bonds of the territory should be
in addition to this amount; this is made
manifest by the amount which such levy
of 6ls mills would produce, as on an as.
sessed valuation of $45, 100000, this levy
would make $292 500, while the appro-
prlation for the 43rd fiscal year is $29l,
4Oo, not including the school tax. EX-
perience has shown that the expense of
collecting and assessing the taxes, to-
gethef with uncollected taxes amount to 25 |
per cent of the whole amount, 80 the act
ual result upon this basis would be IA |
less $73,l ,l25, leaving only $219,375, to
meet an appropriation of $2O2 500. But
as a matter of fact the assessment for this
year falls about $2,0O0,000 short of $45,,.
1000; 30 it is perfectly clear that if only
61a mills are levied on the present assess
ment OF property it will fall about 33 per
cent short of meeting the appropriation
as made for this year, which is fair
basis for the appropriation Of next.
Our supreme court in the case OF
Laughln vs.. county commissioners, re.
ported in volume (Gilderseeve) N. M.
reports, at page 302, has construed the
statutory restrictions on county levy "for
ordinary county revenue" to have exclu.
sive reference to taxation for the or.
dlnary purposes of government, the usual
disbursements during such fiscal wear in
the ordinary administration of public af.
fairs they have no reference whatever to
the execution of extraordinary powers
under special statutes. and which are
wholly outside OF the common courts OF
and this construction is
equally applicable to territorial revenue,
tie reasoning and results are the same.
In the various acts of this territory pro-
viding for the issue of bonds a specific +,
provision is made for the levy of suffi-
cient amount of tax to meet the accruing
interest and to provide a sinking fund
for their final redemption. Vide section
2552, Compiled Laws, providing for the
issue of penitentiary bonds the following
'spsggage is used: "There shall be added
4,lhu;aly tti.he general levy OF taxes for
territorial purposes one-half of 1 mill en-
he dollar for the purpose of paying
and interest, etc." showing ,,
hat the levy for that object was not con-
'idered to be for territorial purpose" in
he ordinary meaning of that term. =:
Sections 2528 and 2529, Compiled Laws,
,reating bonded debt for the capitol
building requires the assessors to levy
AK to pay interest on receiving notice |.
rom the auditor of the amount neces-
ary.
The current expense bonds and the
apitol contingent fund bonds both
authorized by the legislature of 1887,
see laws of that YEAR page 81, 88 and 80
lad no provision for the levy Of a tax to
meet interest upon them, but in the act
# congress approving said act and
alidating the bonds approved July %,
SS8, and found at page $40 proceedings
f the first session OF the 5Oth congress,
is provided "that it shall be the duty
f the auditor to make an estimate of the
mount OF taxes required to be levied in
ach county in order to raise sufficient
lnd to pay all interest and sinking
lnd to pay the principal" The pro-
lsional Indebtedness bonds to the amount
+ 100000 were authorized by an
ct of the legislature approved Feb.
uary 28, 1889, (see laws of that
ear page 295, 296 and 297. This
aw provides that upon notice from
he territorial auditor of the amount
equired the county commissioners shall .
evy sufficient tax to pay the interest
nd after ten years levy tax for sink
ng fund"
The laws OF 1889, page 1928, provides
Or various territorial institutions; section
of that act establishes a fund for the
rection OF the buildings and support and
maintenance of the several institutions
hereby created, in which is used the
ollowing language; "There shall be
ssessed and levied annually, including
he year A. d., 1891, upon all the taxable
property in this territory. mill on each
olar OF the yearly assessed value OF such
property, which shall be known as the
erritoria institution fund, and shall be .
eved and collected at the same time and /
n the same manner as is provided by law
or the assessment and collection of
ther territorial taxes; and it shall be
he duty of the territorial auditor year. .
Y Gncluding A. D., 1897 to noti-
y the different assessors of the different
ounties OF this territory to levy, and upon
uch notice it shall be the duty to 80 levy
he tax provided by this act"
The insane asylum bonds to tine amount I
{ $4,000 authorized by the last legisla-
Ire at page 81, laws Of 1891, were TO be