The Raymer enterprise., 1919-06-19

the bonds are not issued and cOntln-
ue such increase for period cover
ing the next six years.
The tax payer may not be entirely
familiar with the manner in which
these registered warrants have ac-
cumulated. The district had q very
few schools prior to the fall Of 1910,
At that time the district comprised
the present district and the present
district Of Stoneham. There was
little or no money in the treasury
and few school houses, but there
were great many pupils. Several
school buildings were erected and
teachers hired, and registering war
rants was the order OF the day then.
The writer was not here until the
year following, but believes that was
the way the matter was accomplish
ed. the district being practically a
year behind at that time.
We do know that when the dis
trict was divided In 1912, there was
no money to divide and that this dis
trict inherited a considerable debt
for the financial condition at that
time, but of course not Of such size
90 n ic Of nracant
The increase came from the fact
that the bond issue when the school
house was built was not sufficient to
meet the expense of the Lincoln
building and the four other schools
built that year, The bond issue was
for $4,000. The Lincoln school cost
approximately $4,000 and the upper
story was left uncompleted. The
outlying school buildings cost about
$4,000, It is readily seen that about
$4,000 OF this had to be paid In
warrants. Two years later another
bond issue was fioated for $3,400.
but again the cost Of completing the
building alone outran the bond Is
sue by more than $1,000, leaving the
cost OF completing the heating plant
to be met by registering warrants
The school district has expended
for the purchase Of trucks, $13,216.-
43.
Well. pumping machinery. light
ing plant, furniture, cess pools. ref
erenc books. etc.. have cost upwards
OF $4,000.
The total cost of the permanent
improvements made In the past four
years since the first bonds were is
sued will run up to the total Of the
bonded debt plus the registered war.
rants, or in excess Of $50 100000
Cost OF running the schools should
not increase to any large extent the
coming year. The garage will cost
$1,313. With all new trucks, cost
OF requirements should be low for
some time, and not more than one
required each year.
We do not anticipate that the plan
of keeping the trucks in our own
garage and keeping mechanic will
show much reduction in expense for
the coming year. but We do believe
that 1t will make the service more
efficient and make a saving In the
long run that will justify the added
expense at this time. However, the
move will cost the district something
to try 1t out.
The people OF the district have
wanted all Of the things that the
board has obtained, and the board
has obtained them as cheaply as they
could. The question now is how to
meet the expense in the most econ
omical way.
The debt has been contracted and
1t will have to be paid. Obviously,
the lower the rate Of interest we can
get on the debt, the better for the
tax payer. Then too, there will he
more property to help pay the debt
when the bonds come due. and the
levy will not need to be SO very
high to retire the bonds as they
come due.
The new bonds proposed are what
are called 20-40 bonds. We will
not commence to pay these bonds
for twenty years and then they will
be paid of In twenty equal INSTALL
ments Of $500 each.
The reasons for making the time
so long on the new issue are three in
number. A long time bond Is more
desirable than a short time bond
and brings a better price. Should
We issue 1920 bond, we would on
ly be able to get par for 5is per
cent bond, 80 the intrest rate would
be SIS dollars more per year and
we would have to commence pay
ing in ten years and in installments