The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-04-17

As has been prophesied in The Trib-
une before, there will be no reduction
in the school tax levy for the coming
fiscal year-it will remain at fourteen
mills, as for the past two years. That
is, providing, of course, the school
board at the special meeting to be he'd
tonight adopts the report Of the france
committee printed below.
In this report It is shown in back
and white that a fourteen mills levy
will be necessary TO meet the estimate |
expenses of the general school account
alone without tal;ing into consideration,
the building account. For the pay.
ment of the estimated expenses of thi
latter account. which are $S7, a.
without providing for any new schools
Whatever, the committee recommcn Is
the issue Of 100000 Of ;1a per cent
bonds. The report of the committee -
as follows:
Scranton, Pa, April II, 1850.
10 the President and Members of the Scranton
Board of Control
Gentlemen: The finance committee beg leave
TO submit the following report of the financial
condition of the district, and the means they
recommend TO provide for the necessary expense
OF maintaining the schools OF the city during the
ensuing year.
In order to complete Nos. .. o and Ss, and to
pay the small balance still due on No. "a. il
will require, as per contracts which have been
executed, the sum of 0,4s3.33; sl7.63i.s 81 will
fall due between the present date and th( end
OF the next fsca! year on sites for new school
buildings, as shown by statement hereto at.
tached. This makes total of SS7,lIs.I4 for
building purposes, without allowing for the cost
OF the metal ceilings which were ordered to be
substituted for plaster in the new buildings at
the last meeting OF the board, for the expense
OF finishing up the grounds around Nos and
o after the completion Of those buildings, or for
any other expenditures for building purposes
which may be found necessary during the coming
year.
Although there is some $1,000 in the building
account at the present time, there is large de.
felt in the general school account which will
probably amount TO at least $4,000 by the end
OF the present year.
Your committee, after careful consideration,
have Therefore, decided to recommend to the
board the issue OF 100000 OF Az per cent.
coupon bonds to pay the above named obliga
tions and for any other necessary and proper
expenses Of the district.
As we are paying per cent. interest on the
real estate contracts, and would also have to pay
the same rate to the banks for money which il
will be necessary to borrow for payments on the
contracts and for current expenses before the
taxes for the next year are paid into the treas
TRY in the fall, the issue OF these bonus would
not only result in the saving Of considerable
sum to the district in interest, but would also
divide the burden of paying for these permd.
ment Improvements between the present and the
next generation, which will enjoy the benefits
equally with the present
The law permits municipal corporation, by
a vote OF its corporate authorities, to increase
It's Indebtedness to an amount in the aggregate
not exceeding , per centum upon the assessed
value of the taxable property therein, and a
careful examination of the amount of the bond
ed and icating Indebtedness of the district at
the present time and the report OF the city
treasurer upon the school funds hand has
shown the committee that the said amount OF
bonds can be issued without exceeding the limit
fixed by law.