The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1907-01-22

10000 annual interest charge on the
present outstanding territorial debt.
This gradual reduction of the bond
ed debt is being accomplished without
hardship upon the taxpayers, and it
is believed no better plan could lie
devised in relation to the bonded debt
of h Territory than to continue tee
payment of bonds by direct tax for
that purpose as they become due. in
this mi the deb will be gradually
wiped out and the taxpayers relieved
of the interest charges.
There are now thirteen designated
repositories il which the territorial
funds are on deposit, ertitled under
their applications and bonds flied to
have on deposit $298, 100000, on which
the Territory gets three per cen in
terest per anaum, payable monthly.
Most of the depository banks nave
given surety company bonds to secure
the territorial deposits, this class of
security being preferable in many re-
spects to d boni with personal sure
ties
In this connection l would suggest
that il the territorial laws concern
ing repositories, provision should be
clearly made for the periodical exami-
nation OF all collateral and security
bonds filed with a view to their renew
al or replacement by others when it
might be deemed necessary. The law
of the Territory is entirely silent on
this point, although the system was
initiated nearly thirteen years g
and it is probable that some of the
are still in force, although some of
the signers may be dead n others
bankrupt.
the total tax levy for the 57th fs-
cal rel ending November go, 1906,
was fifteen mills, and the appropria-
lions for the same year for general
territorial purposes $4,000.
For the 5Sth fiscal year the rate
of taxation is fourteen mills for all
purposes; six mills to meet the appro-
priations for general territorial pur-
poses amounting to $2OS, 11O.GO; six
and thirty one-hundredths C 3O.1OO)
mills for territorial charitable insti-
t%utions; one and seventy one-hundred-
tbs 0-70-1OO) mills for bond sinking
funds and special purposes.
Fol the seth fiscal year the total
income from taxation was 1907, PIG. 26,
and from sources other than taxation
including interest on deposits, con
xrs2%os - 4:% z-.--k
fees, corporation fees, superintendent
of insurance fees, and some other
funds $153,026.31, making a total, ac-
cording to the Auditors report of
s66O,242.57.
For h 57th fiscal year the total
income from taxation was s535, 661.5S
and from other sources $196,711.5O,
making a total of s~732,373.OS, or an in
crease of s72,13O.51.
The Auditor reports that for the 81
fiscal ear, under the direct levy fiji
teen mills, one mill levy produced the
sum of $50, 654.03, exclusive of the
cost of assessment and collection, this
being the amount derived from such
levy UP to Il including the 3Oth day
of November, 1906. The mill levy for
the 5Sth fiscal year will probaly pro-
duce more han this.
For the 5Stn fiscal year the four
teen mill levy, as certified by the diff
ferent boards of county commissioners
to the Territorial Auditor was as fol
lows:
Territorial purposes, -. -. 600
Territorial Institutions, Appro-
priation bill, j.. j.. =. $50
Charitable Institutions, -. . .OS0
Canine Real Fund, Sec. II, Chap
z, Laws 1905, o.. rs
U. S. Land Fees fund, Sec. so
Chap. Ill, Laws 1905, -
Mounted Police fund, Sec. Is
Chap 9, Laws 1905, :. so
Current expense bond sinking
fund, Sec. 1874, G. L. 1897, . i. &c
Provisional indebtedness BOND
sinking fund, Sec 4176 c. L.
1897. +. /. -. 10
TER. Institutions bond sinking
fund, Sec. 1851, C. l.. 1897, 8
New Mexico Military bonds sink
ing fund, Sec. 1861, C. L. 1897, 2
Insane Asylum bonds sinking
fund, Sec. 1925, c. L. 1887, :. 2
Total, .14OO
Out of h total amount of this levy
six and three-te1ths are for territor-
ial Institutions and charitable institu-
lions, the sum to be produced for ter
ritorial institutions being SIT, 000. 90
and for charitable institutions s25, 900.