New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1917-08-31
SCHOOL BONDS
SHOULD CARRY
NEXT TUESDAY
SENATOR CATRON APPEALS
TO VOTERS OF SANTA FE
TO AUTHORIZE FUNDS TO
COMPLETE NEW HIGH
SCHOOL BUILDING

Santa fe, II S predecessor found 1t
necessary to erect additional school
buildings to accommodate the high
school branch. 1t caused plans and
specifications to be made for what
was deemed requisite and on com
petitive bidding entered into a con-
tract for their construction, which is
binding on the Board of Education
and the taxpayers of the city who
would have to pay taxes thereon, to
the amount required to pay the con-
tractor The contractor Immediately
commenced the construction and has
diligently prosecuted work thereon
will be completed within about two
months if the same should not be
stopped for want of funds. The
Board of Education made two con-
siderable payments to the contractor
according to the estimate made by
the architect. 1t will not be able
with the money it has on hand or
that will be received this year to
pay the contractor the amounts which
will be due him on the completion
of his contract, but will require at
least twenty-eight thousand dollars
more. That can only be obtained in
one of two ways. First, by levying
a tax on the taxpayers sufficient to
produce the same at once, or, Sec
ond, by issuing negotiable bonds bear
ing interest at the rate of five per
centum per annum, to run for not less
than twenty years. The first men
toned way will be oppressive to the
taxpayer, requiring him to pay
amount almost imme-
diately. out OF money which will be
worth to him at least eight per cent
per anum, and when he may not be
to part with that much.
The second way, the one proposed,
the Board feels will be much lighter
on the taxpayers who will be taxed
only enough to raise each year four
teen hundred dollars, the amount of
five per cent interest on the bonds.
The taxable property in the City of
Santa Fe is appraised over three mil
lions Of dollars the tax to raise four
teen hundred dollars annually would
be little less than fifty cents on
one thousand dollars. The owner of
one thousand dollars of taxable prop
crty would have to pay out not more
than fifty cents. Everyone surely
will be willing to pay fifty cents out
of each thousand dollars of his
to help educate the child
rem OF this city. Fourteen hundred
dollars only must be raised annually
Tor twenty years, but the amount of
taxable property will be increasing
annually so that it is estimated that
at the end of twenty years there will
be fifteen millions of taxable prop
erty in the city. AS the property
increases the amount which will be
levied each years will be correspond
ngly decreased. At the end of twen-
ty years there will be ten years more
to pay off the principal, to pay the
principal and accruing interest in
those ten years not more than
twenty five cents out of each thou
sand dollars will have to be paid,
and that will have to be paid by the
coming generation. The bonds can
be negotiated at par. Should they
not be authorized by the voters at
he election, September 4th next.
here will not be money to pay the
when he completes the
and he will have the right
% file lien on the same and have
t sold to pay what may be due, and
hen may not realize enough to pay
lin in full, for the balance of which.
l. tax would have to be levied on the
axable property in the city, or, if
he would wait, a tax sufficient to rea-
ize the twenty-eight thousand dol
ars would be levied in one year.
which would amount to ten dollars
out of each thousand dollars of
axable property, or in that propor-
ion, on all the taxable property in
he city. This would be burdensome
IN all the owners OF property.
The building now being erected it
s expected will furnish enough room
o. the next quarter of a century At
he end OF that time another gener-
ltion and a great increase in the
irnount Of taXablc property will have
@ care for it
II the Board cannot get money in a
way that will not be oppressive to
he taxpayers, to furnish the build
ng it must get it either by means
which will be oppressive, that is ex-
,GSAlNtlA ldNlllS lHtll, VI IL llluSl Ian
o pay its contractor for the work
,r stop the work by breaking the
.ontract Issuing bonds at low
ate OF interest for a long time will
lot be oppressive. Levying a tax to
.ollcct twentyeight thousand dollars
n one year will be oppressive. We
expect people to immigrate to
,ur town if we compel them to pay
taxes or if we are un-
Wiling to build adequate school build
ngs. When we built the splendid
chooI house we now have. which we
lid by issuing bonds exactly similar
n amount and terms as those now ask
ID to be voted. outside people began
o come in They brought their IA
niles, bought property, built houses
ook up their residences here. The
-alue of taxable property in the city
ince that time has been more than
loubled. Santa Fe has increased in
population and wealth since the
chool houses were built about ten
-ears ago more than it had in the
fifty years preceding. Good schools
md good school facilities advertise
place which has them. Population
will go where there are good school
ABILITIES. II we expect Santa Fe to
row in people and wealth we must
urnish the best of schools and school
equipment. This building will ad-
Continued on page eight,