The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-08-12
BONDS AND INTEREST DUE
Absence Of Sinking Fund compeIs Re-
sort to General Fund in
Their Payment.

/ VI ~ uokON0 " oNAOOA AA0tA1N1 w. q,
I would ask that you publish the fol-
lowing facts as to- our city schools.
I noticed some few days ago an arti-.
Gle published in your paper, stating
that if the school district would do
as we'll as the board of county com
m~issioners, in cutting down the tax
levy, the burden of taxes would be
materially lessened in this city. l
have been a member of the school
board for some years, and my expert
ence as a trustee has convinced me
that the school board for this dis
trict have guarded the school funds
in their hands as carefully as could
be, and have not levied a fraction of
a mill more than was imperatively
needed to properly conduct the
schools. 1t will be necessary to levy
this year Sk mills for school ,pur-
poses, and l will state further that in
the future there will be published,
in December and June of each year, a
statement showing the receipts and
disbursements of school moneys, dur
ing the preceding half year.
Two principal reasons exist why the
standing the great increase in valua-
ton Of taxable property in this dis
trict.
First-Six thousand dollars in bonds
and interest thereon for one year,
came due on the first day of July of
this year, and as no sinking fund had
been collected to take up the same,
the school board was compelled to pay
out of the general and special funds
the money necessary. to meet the
bonds and interest. The money used
for that purpose was held to pay for
the running of the schools, and other
liabilities which would be due before
the taxes to be collected would be
available, and @
Second-The great increase in the
number of scholars attending our
schools during the past two years,
and the necessity for a large increase
in the number of teachers, janitors,
school supplies, ETC., compels the
board to provide more money to- carry
on the schools than has ever been
needed before.
The coming levy for school pur-
poses will be 2 mills, levied by the
county commissioners, for a general
fund, 5 mills levied ny the board of
school trustees, a sa special fund, and
IL mills, levied by the school board,
as a bond, interest and sinking fund,
in all 81 mills, which will raise, on
a valuation of $4,078, 671, $34,6 68. 20,
and the money SO collected will be
expended al fellows: $4,000 to pay
5 per cent interest and 5 per cent
sinking fund on $4,000 of bonded in
d~ebtedness outstanding now, and ST.
[ 900 on bonds coming due at the end
of this calendar year, making a total
of $4,000. The $28,46S.7O balance of
the collection to- be made, will not pay
the running expenses of the schools
until the next levy is available, as
well as take up the warrants issued
and not paid prior to November, 1902,
at which time the coming collection Of
taxes will be available.
Notwithstanding the school hoard
has hired nine additional teachers,
making in all Is teachers for the COM
ing year there will be enough scholars
attend Il schools to make an aver
age of over 40 to each room, and ev-
cry room i neach school building will
be occupied. Very respectfully,
p. B. MOSS, Chairman.
Where Papa Came In.