The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-04-30
SCHOOLS OF STATE
ALMOST BANKRUPT
Several Counties Will Not Be
Able to Open Schools in Fall.
by JOHN C. TRICE.l

TALLAHASSEE, April %. ~ That
there are at least twelve counties in
the state that will not be able to
open their schools in the fall unless
the legislature passes bills that will
allow relief. is the statement of G. r..
NJ. Sheppard, county school superin-
tendent of Volusia county, who. with
j. z. Knight of Hillsborough county.
is here to work for the measures.
Mr.. Sheppard goes on to state that
there are forty counties in the state
whose school boards have issued notes
or other evidences of debt, not vail
dated. to the extent of S1.750,0 900 in ex-
cess of their ability to pay at the close
of the present term.
An observer remarked that this look
ed like bankruptcy.
That's what you'd call it if it were
a private individual said another who
heard the remark.
Mr.. Sheppard has been making a
careful investigation of the finances
of the various school boards of the
state and has received replies to a
QUESTIONABLE sent out from nearly ev-
cry board. These show a financial con-
dition that is nothing less than appall-
ing. The boards have borrowed money
on their personal notes to the extent
noted and now the banks are left
holding the bag" unless the legisla-
ture will pass some curative legisla-
ton. The notes are not legal evidences
of the Indebtedness of the boards and
the banks cannot dispose of them to
bond buyers. In some cases banks are
said to be cramped because of their
holdings of these notes.
The school officers propose two
methods of getting out of the present
troubles. and bills have been intro
.duced for the purpose. They are senate
bills. Their purposes follow:
No. 322. Validates time warrants,
notes and other evidences of indebt-
edness given by the school boards.
Several local bills doing the same
thing have been passed at this and
preceding sessions. This bill is general.
No. 1928. Permits the issuance of
coupon notes or time warrants matur-
ing at not to exceed 20 years and bear
ing interest at not to exceed Z per cent.
But since, after all, borrowed money
must be repaid eventually, they are
lending their aid to various plans fo-
getting a larger showing of taxable
property on the tax books and to other
methods that will insure greater tax
returns. They are enthusiastically in
favor of Gov Hardee's plan for get
ting the tax valuation of the various
counties equalized, feeling sure that il
there is an absolutely fair assessment
of property that much property not
now bearing any share of the tax bur-
den will be placed on the books. They
are also in favor of the plan for al
lowing sub school districts to increase
their millage from 8 to 10 mills, feel
ing that this would indirectly take
some of the burden from the county
school boards.
'FThe school boards of the state are
in very bad financial condition. saii
Mr.. Sheppard. Something must be
done for their relief very soon."
The bill proposing to validate the
evidences of debt issued by the board
SO that the banks may dispose of then:
to bond buying houses has received \
favorable report from the committee
on education, presided over by Sena-
tor Hulley, and will be taken up on
the senate calendar soon.