The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1911-11-02
THE SCHOOL BONDS
(Communicated)

lTlCt amounting TO SOu ,Uuu.Vug SUN
do not clearly understand why Their
should have been any such indebt
edness created; Others are afraid /
this bond issue is voted that tn
district will get behind again ant
another bond issue will have to b.
resorted to in the near future; while
Others are opposed to the issue on
the score OF extravaganza, and fol
other reasons, some real and others
imaginary.
II would seem that only very
simple question Is involved. what
ever outside questions may be
brought in. namely; The district
owes debt OF $4,000, all OF which
has accrued in the course of running
the schools that for this debt the
district Is out 10 per cent interest.
or $4,000 per year, and that by issu-
ing the bonds of the distrist at 5A
per cent a saving viii be made OF
nearly half the interest outlay be-
sides putting the district on cash
basis and strengthening It's credit.
This being the only question no one
can say but that the best thing TO
do is TO vote he bonds and save the
interest
Let us see where we will be If
the bonds are not voted. Every one
acknowledges that the debt must
be paid. No one wants TO repudiate
IL. nor could they II they so desir-
ed. for the value has been given
FOR the money expended. The ques-
ton then is. What is the best and
least burdensome manner TO meet
the obligation? Some want the
debt paid off at once by increasing |
the tax levy. Should this method |
be adopted 1t would mean increasing
the tax levy to % or 25 mills in
stead OF / 3 mills as the levy now
stands. That would pay the debt
In aboJs three years. There are
at least two very serious objections
&c this method.
First, The taxes at the present
a
the very reason so many are object
ing 20 the bond issue. To ask the
people OF this district TO pay s10.-
600 year more taxes on top of
what they are now paying and to
continue 10 do so for three years
would be quite beyond endurance. |,
But that Is exactly what voting
down the bonds would mean, for
there are only two ways of paying
the debt-by increasing the taxes
or voting bonds.
The second objection TO resorting >
TO an Increase in taxes TO pay off
the debt is, the warrants of the dis
trict are now at discount of 3
per cent and II Is question II
they will not go to a greater dis
count. for this agitation has rails
ed in the minds OF some a doubt aus
10 the security and they don't wisk
to take the chance o getting their :.
money back unless they are well pal :,
Tor doing so, AS you know the law =.
requires that where warrants are
It discount the Board must add -
he amount of the discount TO the
ace of the warrant, so the district
will pay interest. and In fact, Is
laying interest. not only upon the y
ace of the warrant. but upon the
Iiscount as well. This discount may w
mount TO 8 per cent or 10 per
ent or even more, for the teachers ha
nd others receiving their pay are sc
ot able to hold their warrants, but on
aust cash them and you, who pay we
he taxes, will have this added bur Tn
en- 20 pay. PA
II would seem then that there is '''
o way out OF our present difficult '"
: but to vote the bonds, pay Off Is
ne present Indebtedness and get :"
, where We can pay cash for all ~
lr bills. p''
Do not allow any one 10 cause -,
on to mix some other question with IN,
TAT OF the bond issue which is on,
lestion OF paying 10 per cent or la,
y Remember that other ques- 80,
ons will be considered separately 90,
I'd that the board is at all times ~.
ady to consider any question that en-,
e peopel may think advisable. ~
The other questions advanced are ho
Itirely outside the issue, but per- no
ips they should have some CON :
leration and for that reason may rro
considered here. The present in nat
htedness OF the district has been sEo
G accumulation OF years The yrr
oks show that back as far as 49,.
04 this district was paying inter, no.
{ upon warrants that were not pal sou
r want OF funds The facts are of,,
nply these: The school has -
own much faster than the valua- ,,I,
m OF the property OF the district
ID while the Board was putting OF
e very limit Of the levy allowed
law. even going so far as TO I
We the legislature raise the rate, of