The Lewiston teller. (Lewiston, Idaho) 1900-1905, 1903-02-10
BOND TO REDEEM WARRANTS

Treasurer Hastings Prsseats Communicated
10 the Board oa the Bending Issue
Proposition Looks Favorable.
AT the meeting of the county co,nmis.
sioners held Friday Treasurer HastipRs
presented to the b,ard Il communication
giving his ideas on bonding the county.
FIRST to redeem all out standing, warrants,
second to build a jail. third to improve
the county roads. 1t will require tso,,
600 for each of these propositions. and
the value Of the proposition il set out BY
Treasurer Hastings in the following:
Lewiston, Idaho, February 4, Iso,-To
the honorable board Of county commits.
sioners: Gentlemen: As the Treasurer
OF Nez Perce county. will you permit me
to present for your consideration. three
important subjects;
First, the bonding Oh the county to
take up the outstanding warrants, which
amount TO $so, 900; second. the building
of a Jail to cost $50, 900; third. the expeu.
diture OF $4,000 for the improvement Of
the roads throughout the county.
l will present these three questions
separately. First. 'ae bonding issue.
We have outstanding today $780, Of
county warrants which bear seven per
cent. These can be funded so that they
will bear only Eve per cent. In the early
part OF '9s, when one Of the present
board, G. w. Walker, was on the Board,
negotiations were opened for the sale or
change Of $4,000 bonds to take up the
outstanding warrants. Every warrant
was taken up IN November, when the
Lake Waha tragedy occurred, involving
an expense of 10000. So, within six
months after the selling Of the bonds
We were confronted with an additional
tional debt Of $4,000. Since that time
we have run behind $4,000, One grave
defect in our county management Is that
no arrangement is made TO pay the interest
on these outstanding warrants, and while
we try to live within the income OF the
year. that is, try not to spend any more
than We raise by taxation each year, yet
the growing demands Of a growing coun-
try and the unexpected expenses which
will occur often cause US to fall behind
some, and when the levy is made it is
made on all personal property. both real
and personal, and great deal of the per.
sonal property tax has never been col.
lected in the years that have passed.
Thousands OF dollars remain unpaid, and
would advise the strictest enforcement,
of the law regarding the collection oi
personal property taxes. Now, it is i,i.
possible for us to pay all this at once, aid
the law compels us to pay certain
amount each year.
will pay out this month, on the war
rant redemption" account the old out
standing warrants. about $1,000, and MIR
Lydon, my predecessor, paid last yea'
about f7ooo. As to the issue aud pay
ment Of those bonds, would recommend
issuing them payable 5000 in one year
S. 600 in two years, and so on, and thu
payments 10 he made semi-aunually. A
bond running ten years straight nigh
bring little better premium. but the diff
ference would be slight. and do no
think it advisable to put off for nun'be
of years the payment Of debt unless II
the form Of permanent improvement
where the future generations reap part O
the benefit.
Could we get ahead in our finances
abolish to great extent the issuing q
warrants and pay cash to the creditors q
the county, the saving in the discountinl
of the warrants and the saving in the in
terest account would amount to grea
many thousand dollars each year, am
the following Of the law Live With,
your income" should be followed to II
fullest extent. BY this financial polio
of bonding it would save $1,000 interes
money and would very soon enable us I
pay per cent interest if not S per cen
Oh what warrants we have to issue.
One thing personal, right here, tn
Treasurer would not be allowed one Ger
above present salary for handling an
money arising from the proceeds OF tn
sale Of any bonds for the issuing OF thes
bonds would require vote Of t~o-ih'rd
OF the people.
THE JAIL PROPOSITION.
1t is a shame and disgrace that OF
county should have such a disreputab
old thing as We have for a Jail. We nee
a r.odern one, built after the most mo-
ern manner and should he built lari
enough to accommodate forty inmates, Al
when the plans are drawn, make the
suitable to an addition when necessar
Regarding the financial part, wou
suggest this plan; Issue these bond
payable in twenty years, optional at se
start sinking fund Of fa,ooo per yea
this sinking fund to be raised by tax
,ion-use this bond for the purchase