Evening journal., 1917-02-17
PROPOSED new SCHOOL BOARD WOULD
HAVE FIVE MEMBERS; DETAILS OF BILL

the value OF all the real estate,
buildings and permanent equip
ment owned by said board as appraised
at its true value by the city Board
OF Assessment.
1T shall be the duty OF the Board
OF Assessment for the city Of Will
mingtOn to appraise annually at their
true value all real estate. buildings
and permanent equipment in the pos
session OF the Board Of Public Educa-
tion in Wilmington, and TO keen an
official record showing the number,
dimensions. and value OF the lots own
cd by the board last aforesaid. and
the value of the buildings and per-
manent improvements. On or before
the fifteenth day Of March in each year
the said Board OF Assessment shall
present in writing TO the Secretary Of
the Board OF Public Education, a cor
rect statement of the value Of said
3 lots. buildings and permanent equip
ment.
"The sum or sums determined upon
/ by said board to be borrowed under
the provisions OF this Act shall be
secured by the issue OF bonds by the
said Board of Public Education in Will
mington,' Of the denomination of one
thousand dollars each, and bearing
such rate OF interest not TO exceed
/ four and one-half per centum. per
annum as said board may deem
expedient, the interest upon which
shall be payable semi-annually
from the date hereof Said bonds shall
be divided into as many classes as
may be necessary to mature and re-
tire them, and shall be paid at their
face value on maturity, provided, how
ever, that not less than two and one
half per centum OF the total face value
of said bonds shall mature and be paid
and retired in each fiscal year begin
ming with the next fiscal year succeed
ing the fiscal year in which they are
issued"
Bonds are to be prepared and sold
as bonds authorized by the Legislature
have been previously issued and sold
Section VIII.-Requires the Board
OF Education to adopt a proper sys-
tenn Of bookkeeping, and keep OF
cause to be kept true and accurate
accounts. fully itemized, OF all labor
performed, or materials. or supplies
furnished to or for said Board, which
books at all times shall be open for
Inspection and examination by the
Mayor, the city auditor or the author
lied agent Of the Mayor. Reports OF
the boards accounts and proceedings
are required to be published as at
present.
Sectino IX.-The city auditor shall
examine and endorse as correct all
bills against the board and examine
and counter sign all drafts or orders
as at present To over-rule the action
OF the city auditor I'm Withholding his
signature IN any case, vote OF fouE
of the FIVE members shall be necessary
Section X-"The Council shall every
year. when determining the amount
necessary to be raised on the person
and estates in the city OF Wilmington
for public use, also include the sun
necessary to be raised on the persons
/. and estates for executing the fore
going reyisions; provided that th'
I amount to be raised by taxation 70
school expenses in any one year IN
I cluding all the expenses which tn
, Board Of Education is authorized I
/ incur under the provisions OF this ac
] and including expenses for main
Z tenanCe, operation, interest on bonde
= debt and retirement OF bonds fallin
= due shall not exceed nine mills OF
- each one dollar Of the value OF rea
, and personal property as assessed an
taxable for city purposes. The amour
collected for school purposes shal
! be paid into the city treasury as Othe
taxes are paid At the time Of makinl
the annual appropriation for schoo
/ expenses equal in amount to tn
! amount annually computed and lai'
3 before said Council by the Board o
b Public Education i'm Wilmington
provided that the sums so appropriate
b shall not exceed nine mills on eacl
b one dollar OF the assessed value o
, city property as assessed and taxable
Z for city purposes"