The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-10-12
COMPTROLLER MCARDY'S RESO-
LUTIONS TO THE CONFERENCE
COMMITTEE ON SUBJECT.
SUGGESTION TO THE COUNCIL
THAT AN ORDINANCE BE PASSED
SUBMITTING THE QUESTION
TO VOTE.
MONEY FOR SCHOOL PURPOSES
~ Sum Not to Exceed $4,000 "a
Year for Two Years, He
Thinks, Is Needed.

The session of the conference COM
mittee held yesterday afternoon was
prolonged past the regular time. Usu-
ally, the committee is called to order
and, after roll call and the filing of
reports, an adjournment is taken.
These formalities were gone through
with yesterday, and a motion to 'ad-
journ was interrupted by Comptroller
McCardy, who announced that he had
a matter which he desired to lay be-
fore the committee, and handed up
the following:
Whereas, The legislature of this state at the
session of the year 1891 so amended the
charter of the City OF st. Paul that said
city was prohibited from issuing bonds, and
the amount Of money that could be used by
said city in any one year was limited, not
in dollars, but to a certain per centage of
the assessment for taxation of the property
in said city, and
Whereas, Since said year 1891 the assess
ment of said property for taxation has been
reduced to about three-fourths of what it
enues Of said city for school purposes have
been in like proportion reduced, and
Whereas, Since said prohibitory law OF 81
was passed, the legislature Of this state has
passed Chapter 204, of the Laws Of '93. and
thereafter amended the same by Chapter 12S,
of the Laws of 1895, under which authority
is given all cities, including the City of ST.
Paul under the conditions named therein,
to issue bonds for school purposes, should
the electors of said city so desire, and
Whereas, The revenues of said city Tor
school purposes, by reason of the said redue-
ton of valuation for taxation have been re-
duced by about $50, 900 per annum, now,
Resolved, That in the opinion of the con-
ference committee of the City of st. Paul,
mon council of the City of st. Paul take
such proceedings and pass such resolutions
or ordinances as may be necessary to SUB,
nit to the voters of said city at the general
city spring election of 1898, the proposition
of authorizing said city of st. Paul to issue
it's bonds under said law of 1888 as amended
in 1885, the proceeds OF SAID bonds TO De us U.s.
for the purpose specified IN sara chaoteI 20 10,
of the laws of 1895, and in an amount not
exceeding 50,060 for use in the year 1929,
and also an additional $4,000 for use III tne
wear 1899 said bonds to mature ana De pay
able not exceeding eighteen months next after
their issue and to draw interest at rate
not exceeding per cent per annum interest,"
payable semi-annually. And this conference REM;
committee hereby recommends 10 1he cuhl.
mon council of said city OF st. Paul 'iiat
with all reasonable dispatch 1t prepare ana
submit to the voters of this city to be actea
upCn at said election said proposition.
President Arosin, of the assembly,
seconded the motion to adopt the res
olution, in order, as ne explained: tnd'
it might be discussed. President BE.
ment. of the water board, inquired II
the comptroller expected to take up
the bonds at their maturity, or, When
they were due, refund them Inc
comntroller said the bonds, if voted for
by the people and issued, would be
taken up when due, and the amount
necessary to pay them would be put IN
the tax levy. This would make an in
crease in the tax levy rate of about
one-half a mill, or, to put it palmer,
those who now pay S21.40 tax on $1,000
worth of property would have to pay
S21. 80 on each 81, 900 of valuation. The
comptroller went on to say that the
revenues of the school board would
not be sufficient to provide new build
ings and sittings such as were needed.
The income of the board was now
fixed by the charter, and was hardly
sufficient to pay the expenses at the
present time, with some of the chill
dren only attending school half a day
at a time. In no other way, he said,
could the revenues be increased, and
there is nothing to prevent the issu-
ance of the bonds, provided the people
voted for them.
Aid. SanbOrn questioned whether, If
the charter commission raised the
amount to be levied for school pur-
poses above the present 21a mills, the
issuance of bonds could not be done
away with. Comptroller McCardy said
he preferred that the 21a mills for
school purposes be not increased by
the charter commission, and the mat
ter be left to the people to say how
much should be expended for school
purposes
The resolution appeared to be salts
factory to all the members of the COM
mittee present, with the exception of
Aid. SanbOrn, who was the only one to
vote against it's adoption, he explain
ing that he preferred to investigate be-
fore voting for it,
Comptroller McCardy also called the
attention of the conference committee
certificates. The custom, he said, in
vogue five years ago was to
sell the certificates after sealed
bids had been asked for in lots
of from 100000 to $25O0OO at
time. This had been changed
SO as to give st. Pauls citizens
a chance to buy, the result being that
in 1896 all of the certificates with the
exception of $1S0,000 worth, had been
sold in the city. In 1897 all the GER
tificates issued had been sold to local
buyers. The benefits, he stated, were
apparent, because it did not take the
money East, and the interest, about
$50, 1000, was also kept in the city OF
the issue of 1897, 276 citizens held an
on an average about $4,000 each. and
the balance was held by banks and To-
cal financial institutions. The rate Of
interest had also been reduced from s
to per cent. The charter commission
would soon be in session, and the
comptroller thought it would be we'll
to have the commission understand
that the present system was the best
that could be devised, and it might be
advisable for the conference commit
tee to pass resolution that no change
should be made.
President Bement, of the water board,
questioned whether it would not be
better to issue some longtime bonds
instead of anticipating the city's reve-
nue. by tax levy certificates of indebt-
edness each year. His idea was that
by issuing bonds the city could COM
mence to live on what it earned in
stead of borrowing to conduct its bust
ness each year. Being year behind
was, in his opinion, a bad thing. The
comptroller, however, said the present
system was a good one, and with this
assertion the matter was dropped.
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