The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-03-16
TO FUND THE DEBT.
School Board Preparing to Act
Under the New Law.
CLEAN BOOK FOR THE NEW YEAR
Gil for an Election Discussed Maple
TO Be Asked To Redeem War
rants Issued I'm 1898.

A special meeting Of the hoard OF edu-
cation yesterday afternoon was taken Zip
with discussion of the question CT calling
an election pm the Issue OF bonds 20 fund
the floating debt. under the law just
passed by tte legislature. bat final action
on the subject was postponed until it has
been aScartafned what action County
Treasurer Maple will take on the redemp-
ton of warrants.
The question came up on the submission
OF the following resolutions drawn n
strict accordance with the new law by
w. III. White. the attorney fer the board:
Whereas, IL Is necessary to validate
and ratify the indebtedness Of this district
incurred for strictly school purposes, so
Tar as the same does not exceed 5 per
centum on the valuation of the taxable
property in the district; therefore he il
Resolved, That the board deems ii adj
visahie TO validate and rat.fy the indeht-
edness OF the district incurred for strictly
school purposes. so far as the same does
not exceed per certum on the yalua-
ton OF the taxable property of the dis
trict, as provided In article s, section g.
or the state constitution and the question
OF validating and ratifying the indebted
ness OF the district incurred for strictly
scnooi purposes so far as the same does
not exceed , per cenfun shall he SUBJ
United to the voters for approval or dis
approval at an election to be held In the
district on the - day of -. 1885, at
winch election the said question shall be
voted upon.
: The ballots voted by the voters at said
election must contain the words For vail
dating and ratifying indebtedess. yes or
the words, For validating and ratifying
indebtedness, no. The ballots cast at
such election containing the words. For
validating and ratifying indebtedness.
yes shall be counted in favor OF validat-
ing and ratifying such Indebtedness and
ballots voted For validating and ratify-
ing Indebtedness. no. shall be counted
against validating and ratifying such in
debtedness."
Considerable debate followed as to the
eject OF the new law. with the result
that II was discovered that the law pro-
WOES that all outstanding warrants to
cate, VIE: March s. might be ratified by
vote OF the people and funded by the is
sue OF bonds. although the decision of
Judge Langley in the Queen Anne case
required that the revenue of the current
year should be applied to the expenses of
that year. Thus the board might issue
bonds for the amount expended from
January ! to March s. although Judge
Langiey's decision allows that amount to
De paid out OF the funds now in the treas
ury ana those funds are ample for the
purpose. Mr.. White explained that any
funds over the amount of money neces-
sary to meet the cost of the proposed new
building, which. together with the cost OF
grounds and interest. would amount to
about $4,000. was available for current
expenses. In other words the injunction
allows the county treasurer to pay out
for current expenses all the money in his
possession except the SOS, 900. Mr.. White
said he understood there was In the
hands OF the treasurer at this time SIS 600,
which, after taking out the $2Soo0 leaves
5000 to pay warrants. The running ex-
penses for the district from January ! to
date had been about S33.0s0, which can
be paid out of the $4,000 on hand.
1t was finally decided that the amount
of debt which the people should be asked
10 validate was the amount outstanding
on January 1, 1895. and that a commit
tee composed of Messrs. MacDougali and
King should call on Treasurer Maple to-
day and ask him to call in the warrants
issued from that date in their number
and order. Mr. White was also IN
strucred to begin proceedings to have
Judge Langiey's injunction annulled.