Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-05-10
East Side.
BOND ELECTION
MONDAY, MAY Il
AT HIGH SCHOOL
Bonds Asked Dis
trict in Good Financial
Condition.

The election to vote 1920 Of
bonds to the state OF Minnesota for
the purpose Of rebuilding the burned
school houses in East Grand Forks
will be heled on Monday, May IL, at
the present high school quarters on
the corner Of DeMers venue and
Third street. The polls will be open
from 5 p. m. to 9 p. m.
In connection with the election. and
for the information, of the voters, the
school board has issued the follow
ing statement on the financial condi-
ton Of the school district.
The insurance money on the old
building has all been received by the
treasurer except $1,000 which the
companies have elected not to pay un-
til the sixty days allowed them by law,
have expired. OF the insurance
money received $39.500 has been
placed on certificates of deposit, for
six months, at 4 per cen at the First
certificate at the First State bank,
and $4,000 is also in this bank in
vested in United States Treasury War
certificates at 1 1-2 per cent.
The burned buildings were insured
for $4,000; the furniture and fix
tures," including textbooks, paper,
supplies and all movables. We're in
sured for $500. This was allowed in
full by the insurance adjuster as a
total, loss without any deduction
whatever because of the salvage which
district.
$4,000 Bonds Asked.
The bonds asked for amount tc
ance gives a total of s156.od0. The
architects estimate for the. cost i:
s147,0O0, which leaves a margin Of
$500 to be added to the $500 OF
insurance money, making a total OF
$4,000 for equipment of the new
building. That sum would not be SUI
fcient were it not for the fact thai
there is a large amount of tables
desks. etc, in the salvage, besides
considerable amount of equipment
that has been bought since the fire
of the schools.
No one can tell to a cent what thu
buildings will cost until the bids ar.
in for construction, and it is illega
to ask for bids until the proper funds
are at hand. All calls for bonds, mus
be based upon the architects esti
mates In my school construction. TIL
bonds must come before the bids do.
District Condition GOOD.
The school district is in good fl
nancial condition having no floatini
debt whatever, the bonded debt j
100000 and is being paid off at tn
rate of $4,000 each year.
There will be nc legal expense o
commissions in connection with tn
sale of bonds as they are taken b,
the state itself at par value and q
the low rate, of 4 per cent. There will
be the usual expense for the archi
tect for drawing UP the plans an
specifications and supervising tn
complete construction of the build
ings. The architect will receive tn
standard commission of 5 per cent.
At the present time the district
receiving $4,000 special state aid, J
buildings are not built that meet tn
requirements Of the State Board {
Education that money will be 10.
and that alone would o than pa
the interest on the whole bond issu
for all time.
In order to conform to the strut
tural requirements upon which stat
aid depends. the new building mu|
be constructed according to the detail
ed and exact state building law
which prescribe the minimum size I
the rooms for each department
height of'ceilings, amount Of windo
space, ventilation shafts, width
halls, plumbing exits, etc., accordin
to the number of children each roo,
must accommodate. The object is
maintain a high standard buildir
program which will be unifor
throughout all communities.