The Winslow mail., 1923-12-14
STATE BONDED
INDEBTEDNESS
$43,276,6S3.53
Report Shows Moderate In
crease Over Last Fiscal
Period; Annual Interest
On Bonds Amounts To
Two Million

The total state, county and muni-
cipal bonded Indebtedness in the state
at the close of the fiscal year, June
80, 1923, was 1926 683.53 or $614,-
8729O more than the total bonded in
debtedness for the fiscal year ending
June 30, 1922, according to state
ment prepared by the state tax com
mission. The total bonded indebted
ness on June 80, 1922, was $42,662,
1853.
The statement was prepared by M.
S. Stanley, accountant for the tax
commission, in accordance with the
provisions of an act passed by the
special session of the Fifth legisla-
ture requiring that the tax commits
sion prepare and keep a record of the
total bonded Indebtedness in the state.
The statement shown is the total in
debtedness according to the different
political subdivisions of the state, the
total amount of bonds issued the
amount redeemed, the amount of the
redemption funds for the bonds, and
the total amount of bonds outstand-
ing. The statement also shows the
net liability and the amount of inter-
est paid annually on the bonds.
This statement E. A. Hughes chair
man of the commission, said will be
kept up-to-date by the commission SO
that it may be presented to the legis-
lature whenever call is made by that
body for it.
Two Million Annual Interest
The amount of all bonds, issued in
the state by the various political sub
divisions total $45 576, ,24O.83, of which
$2,299,557SO in bonds have been re-
deemed and cancelled, leaving still
outstanding total of 43,276,683.53.
The funds accrued in the state for
the redemption of the bonds, the state
ment shows, amounts to $3,571, ,674.5S,
leaving net liability for which funds
must be raised of $39, ,7O5, ,O08.S5. The
annual interest paid on the bonds
amounts to $2,363 ,O0509, or a rate of
555 per cent.
Of the $43,276,683. SO of bonds out
standing, $S68,SO5.82 represents the
bonds issued several years ago by
four of the counties for the construc-
tion of a railroad from Seligman
through Prescott and Phoenix to Tue
son. The road was never built and
the counties were left with the bonds
to redeem. Congress in admitting the
state set aside 100000 acres of land
to redeem these bonds.
The bonds are distributed as fol-
lows: Coconino county, $101 1917;
Maricopa county, $209,550; Pima coun-
ty, 1918 8,275.29, and Yavapai county
$239,81336. The interest and the re-
demption of these bonds will be paid
from the proceeds from the rental
and sale of the land grant.
The total amount Of bonds out
standing in the state on June 80, 1923,
and their class as compared to the
amount outstanding on June 30, 1922,
with the decrease or increase is as
follows:
Funding bonds, 1922, '$709,972.43,
same 1928 Capitol Building bonds,
1922, $4,000; 1928, $4,000; decrease,
$4,000. Asylum Building bonds, 1922
$50 900; same 1928 st. Louis Expo
sition bonds, 1922, $4,000; none 1923;
decrease, 100000 University Expert
ment Station bonds, 1922, $1,000;
same 1928 Total state bonds, 1922,
$S12,97243; 1923, $772,972.43; de-
crease, $4,000.
UeneraI county DOIluS
Road bonds, 1922, $1S sol 900; 1923,
S1S,321, 900; decrease, $18O000. Court
House and Jail bonds, 1928, $555 900;
1923, $4,000; decrease, $38 900;
High School bonds, 1922, 100000;
same 1923. Hospital bonds, 1922, $780,
600; same 1928 Funding bonds, 1922,
$2,483, 1887; 1928, $2,39S, 1887; de-
crease, SS5,OO0. Total county bonds
1922, $21, ,679, 1887; 1923, $21. 6,169.-
81; decrease, $303,000.
Special District Bonds
School district, 1922. $9,843 $50;
1928, $1O,238,O50; increase, $S94,200.
Drainage District bonds. 1922, $751;
0O0 1923, $2S4,500; increase, $500.
Irrigation District bonds, 1922, $780,,
900; 1928, $345,0OO increase, $685.
900. Total special district bonds,
1922, $10,1S4,S5O; 1928, $10,8675 $50;
increase. $6S2,OOO
City and Town Bonds
Water Works, Electric Light, and
Gas Bonds, 1922, $5778,OOO; 1928,
S5.772 $50; decrease. $55,35O. Sewer
bonds, 1922, $1,S54,500; 1928, $2,013,-
500; increase, $159O00 Street and
Road Improvement bonds, 1922, $810,-
720.64: 1923. $1,000, ,21454; increase
S19S ,4s3 30 Municipal Building bonds,
1922, $4,000; 1923. s1995 500; increase
$50, 500 General Municipal Improve
ment bonds, 1922. $739 500; 1923, $685.
129; decrease, $131,371 Funding bonds
1922, $3.50, ,39799; 1923, $796997. 80 in
crease, $50, $500. Total city and town
bonds, 1922, $99S5, ,11S.63; 1928, S10,-
259,99153; increase $274,S72.90.