The Holly chieftain., 1921-08-18
WHY BOARD
ASKS BONDS
Necessary TO Provide Funds r,
Finance Consolidated District.

When Districts consolidate. the
law compels the school boards to
provide transportation for all, child
rem living one mile or farther from
the school. This must be done.
OF the proposed issue, $1,000 of the
$4,000 will be used for the purchase
of busses. We are now building
three buses at an approximate
cost OF $4,000 each and in the very
near future We know that we will
need another. This Il an expense
that is already incurred, and it must
be paid whether or not the bonds
are voted. In case the bonds are
not voted we will be required to
include this amount in our next
years tax levy, and OF course in
that case, the entire amount will
have to be paid next year. There
fore we believe 1t good business
to provide for the payment through
bond issue.
$4,000 will be used for the con.
struction of 3 garage. Our plan is
to employ q mechanic who will
drive one bus and have entire
charge of the buses and keep
them in repair To rent a place to
keep these buses will cost at least
$4,000 per year. The interest on
$4,000 bonds is $40 per year. You
will note the saving. In addition
we will buy our gas and oil at
wholesale and the depreciation OF
our buses will be much less. In
these latter items alone, our figures
show us saving Of $1,000 per year
We frankly ask you to ask yourself
this question-'if you had $4,000
invested in trucks, would you have
rented garage or one Of your own?
We propose to spend 5000 for a
Superinteldent's residence. On
first thought, no doubt many OF
you will object to this expenditure
but We believe that when you un.
derstand 1t. you will look at it as
we do. One of the first questions
put to us by the different appll-
cants for the Superintendency was
where can I get house?" For
tunately we had place for him
until Sept. 1st but where he will
live after that we do not know nor
does he. But he certainly has to
have a place to live You may say
why don't he buy place or build
one?" We simply ask you III you
would II you had job for only
year?" We think not. AS the pres:
ent laws are, you cannot contract
with superintendent for q longer
period than one year In districts
OF the second class. The cost of a
residence will not exceed 5000 and
can very possibly be built for $4,000.
Figuring 1t out, the interest at
per cent on 5000 would be $500 per
year. As the rental would be $35
per month or s420 per year and as
there are no taxes upon such a
residence. 1t would leave you the
balance for the sinking fund. In
other words, It will cost the district
nothing except Its credit to build
this residence and It would certain.
ly put the district in better posi-
tion to employ the right man in
future years.
At the present time the district
has $4,000 on hand and about $1,000
In delinquent taxes, which should
be collected between now and Nov.
ember. This will give us $4,000 to
conduct our schools to Feb 1st.
Should We pay for the proposed
measures out of the current funds
we would be registering warrants
most OF the school year and the In
terest ON these warrants would cost
more than the interest upon the
bonds Therefore we belive that
the business way to handle these
expenditures is through a bond Is
sue.
II this Is not clear and you wish
any further information, any mem.
Der OF the Board will be more than
glad to explain any point you do
not understand.