The Lamar register., 1905-04-12


strongly endorsed the measure snt
gave it loyal editorial support. Th'
prediction then made has been justi
fed by the fact that nearly dozer
great districts have since been or
ganized under that law, and many
others are forming. About $4,000
600 of bonds have been voted, anG
projects under way will require at
many more. About $2,0OO,0O0 oi
these bonds have been negotiated
The adoption of the Woodruff Brom
ley bill authorizing the investment
of the public school fund under Ger
tain restrictions in such bonds, it is
confidently believed will make the
way clear hereafter to successfully
finance the needs of the state, and
thereby add millions to our agricult
ural wealth.
Realizing that the present lsw
should be improved to meet condi
tions unforeseen, its friends sought to
pass q new act. Unfortunately Ger.
tain local and individual interests in
corporated in the Church bill, chang
es which are strongly claimed to be
inimical, and should therefore in.
fuence the governors veto.
The irrigation district law is de
signed to provide farms with com
munity water supply as town OF
city does its wants. The owners
may incorporate and vote bonds
which are a lien on the land bene
fitted, and with the proceeds construct
and operate their own canal system.
The losses which in the past have
come to irrigation enterprises have,
however, SO discredited their securi
ties that great difficulty has been e1
perienced in marketing the bonds.
The Woodruff Bromley measure, it
is believed, will remedy this.
But now comes the Church bill
with provision unlike any of the
half dozen other states which have
this district law, as follows: "All
lands within the district, for the pur
poses of taxation under this act, shall
be valued by the assessor at the same
rate per acre" Our statute now,
and all the others have, instead the
usual ad vxlorem assessment, "duly
equalized" valuation, except that
Idaho, Nebraska and Colorado ex-
empt "all Improvements"
The Church bill by adopting the
uniform" assessment, introduces,
therefore, a radical and wholly un-
tried experiment, and raises ques
tions which inevitably will 60 to the
courts. For, whether q lean OF
rough tract of land shall pay just as
much tai as the most fertile and
highly improved farm possessing a
productive value several hundred
per cent greater, is a proposition
sure to be challenged.
Meanwhile, the bond buyer, with
out whose cooperation and approx
al the law must prove abortive, may
we'll hesitate to look to each acre
separately and alike for pro rata Sc
curity. Certainly this innovation
practically destroys the strictly mum
icipsl character Of the bonds-a very
desirable and important feature re.
garded in investment circles. Even
school bonds would lose their at.
tractivenes; were they . lien upon
each acre uniformly. And the irri-
cation tax will be ten or twenty
times greater than any school taz
ever levied. Hence the amount OF
probable delinquent tax, and there
fore unpaid bond interest is purely
conjectural.
The Denver High Line district has
voted bonds averaging $35 per acre.
There are many acres in it which are
not now, nor for many years will be,
salsble for that. Much more likely
are tax delinquencies in outside, ia,
away sections where the bonded in
debtedness Of SIS or $40 per acre is
ten times the value of land at the
outset.
II, therefore, taxes may not be
equalized and adjusted, impossible
under the Church bill, the danger OF
defeating the object of the district
land from which so much is hoped
for is imminent. Far better retain
the present law, under which such
avk -. 0r1sp.rv -r1r,-a-- hu. hoap