The labor journal. [volume] (Everett, Wash.) 1909-1976, 1911-06-09

NhS NcIIAd4 DOu. 1t NtCN dSo bul IeduclS
will all agree is comprehensive and I'M
biased and it will pay you to read it
over several times between now and
next Tuesday.
"To the Central Body of the Federated
Improvement Clubs:
"Gour committee appointed to report
upon the question of voting bonds juno
18th next, for the purpose of taking up
outstanding warrants, reports as fol-
lows:
Sec. & of Art. /, of the Constitution of
the state of Washington. provides No
county city. town. school district, or
other municipal corporation shall for
any purpose become indebted in any
manner to an amount exceeding one and
one half per centm of the taxable prop
erty in such county city, town, school
district or other municipal corporation,
without the assent of three -fifths of the
voters therein voting at an election to
J." b'ld for that purpose, nor in cases
requiring such assent shall the total in
dehtedness at any time exceed five per
centum on the value of taxable property
therein to be ascertained by the last
from the last assessment for city pur
poses previous to the mourning of sucn
indebtedness, except that in incorporated
cities the assessment shall be taken
from the last assessment for city pur
poses: Provided, That no part of the
Indebtedness allowed in this section shall
be incurred for any purpose other than
strictly county. city, town, school dis
trict, or other municipal purposes: Pro
Vided further, that any city or town
with such assent, may be allowed to be-
come indebted to a larger amount, but
not exceeding five per centum addition
al for supplying such city or town with
water, artificial light and sewers, when
the works for supplying such water,
light and sewers shall be owned and con
trolled by the municipality"
This section of the constitution is
practically embodied in section 257 Of
our charter.
THE valuation of taxable property of
our city as shown by the last preceding
assessment roll for city purposes is SIP
1906.
Consequently the indebtedness of the
city should not exceed Sl9O75O57 with
out the assent of three fifths of the
voters voting and even with this vote
such Indebtedness can not exceed an ad
ditional $445 .os46S. making our total
limit $635,S35.25.
According to the city controllers re
port in l9l0 our Indebtedness was
$74oc4429, thus it can be seen that W.
have exceeded our constitutional limit
even with the three fifths vote (which
7 understand We have not had slO7,-
2O804
But the supreme court has held. a W.
SO, that cash assets may be deducted
from outstanding indebtedness for the
purpose Of determining its amount with
in tie meaning OF the constitutional pro-
vi-i,, on tLo s,bio.+ Of ,n,alt.5na--
and II, .,.,,ti... .,.b o,.h ....,+. g..
rnalinc 1ad,,.tior. rom +bo o,,.,.,n+ &c
irdah+ad,,ss mot o,I,- +ovos r.-i.1 sor
tbo c,,.,or- ,..,r t.,+ ,,noo;d 3,r;...,,,,,,+
tavc~ constitute d part of the cash as
.o.r rrt;, tho lion of tbo +ox h.. hoo,
meroa3 in sale inf nronertv
t,o.r.li,,, -, a.. ao,,+ro1i,,.,- ..,,,.,.4
4b. balance IN. iood january, 7or1 ,,.o.
esG.-l531 ,,..+ If = ro,. i 40 .,o+ i.,o,,.
c,,.s,.,,,,.l,- ....--.l;,,,, g., +t.. l.-;.;..,
of ,.,r .,,,....,... .o,,,.+ +t,;. sea -1-3r al
cp,,.ont +.,s. .boril Iva 5odu.+od from,
the slo- 2nS ma (which nerb,ns NAV, briro
tbo 5el+ vi-I.., tb.. oo,stitr+iopsl limit
IA IN FIN. validity Of tho ,varra nj
issued bay.rl the ,pa and ono half NO,
cenrim nr.,osad to no validated Inv tbs
vo+ors f.,,s d. o,r surname court has
held that one who contracts with q city
i u,,,pd RI, know whether +be existino
and outstanding obligatjons exceed the
constitutional limit.
In 26 w. PIP. our ,uprem4 court he'll
that warrants issued by city Tor ne
o,..,v,. ..,.,.on..s Ia ,,,,intai,i,,, tb, a,