The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-10-30
EXAMINER
Continued from Front Page)

due the Sinking Fund from the
General Fund of the County. Dur
inc the past year $19,000.OO was
transferred to the Sinking Fund.
The interest due the county
from the two closed banks at
Westby and Plentywood was not
credited for the quarter ending
June 80, 1918. AT the time of fin
al settlement of these two ac-
counts this item should be adjust
ed.
The official bond of the Public
Administrator, Arthur G. Erick-
son expired on January 8, 1881,
therefore, the county at present
has no qualified administrator. A
new official bond should be pro-
cured and Mr.. Erickson reappoint-
ed by the commissioners.
NO ADJUSTMENT ON
TAX REFUNDS
The tax refunds called TO your
attention on page IL OF our 1880
report have not been adjusted.
They are refunds of taxes amount
ing to $1,781.30 that were illegal
ly refunded and which are still
owing Sheridan County.
Your net indebtedness shows a
decrease of $27, 1854 during the
past fiscal year, which helps a
little, but when the whole indebt-
edness of the county is considered
it is a small amount.
FUNDS OVERDRAWN-
On June 80, 1881 each of the
regular county funds was over
drawn; the General Fund in the
amount of S8,787.74; Road Fund
S49, 761.57; Poor Fund So, 325.63i
Bridge Fund $2,37O.O8; County
Fair S1,422.42; Seed Grain $112.22
Gopher Fund $4,9O2.19; Library
Fund $68.86; Classification FunC
$500. There were cash balances
of $3,681.84 in other County funds
which leave the regular count!
funds overdrawn in the amour
of S69,O83.87. and to this amour
must be added $171. 012.72 in tn
old Closed Bank Account (bank
which closed several years ago.
making a total overdraft of $24Ol
O96.59 in the regular county funds
To this should be added the q
mount to be raised to payy OF
outstanding bonds which is 1857
814.33. This make a total out
standing net Indebtedness Q
S597, 1902 owing by Sherida
county and which must be raise
nv taxation. There can be no e.
cape from a high rate Of taxatio
for the next several wears.
BONDS COMING DUE
There are sSSO,OOO.OO of yO'
bonds coming due in the yei
1884 and $190,OO0.00 in 1913
Sinking Fund requirements for Il
wears 1881 and 1882 are $1O4, so
81 for each year and $50, 259.94 I
the years 1888 and 1884 and 7
the wears 1896 to 1888 ST., 146t
each year, if the bonds are to
paid off at maturity.
CLOSED BANK LEVY
In addition to the above a lie,
should be maintained to pay t
SIT, O12.72 in the Closed Bal
Account, for this money belou
to the school districts and t
, Sinking Fund. In addition to t
, above the interest requiremeI
, for the year 1881 are S36,SSZ;;'
IF the bonds are retired as tn
e become due the interest rate "
q gradually drop.
HUGE INTEREST
:. PAYMENT
g From June 1921 to June 1!
n Sheridan county has paid the Ian
o. sum of $500, O47.20 in interest,
? amount almost equal to the pr
y ent net Indebtedness of the coun
On June 80, 1881 the count
books show cash balances total
S39S, 9S0.33, but the closed bs
account is carried as so mi
cash on hand; deducting this fr
the above the actual cash on n
is $227, 917.61.
HARD ON TAXPAVERS--
Of There is no doubt put t
10 some of the bonds viii OF neces'
= be refunded, but the smaller
mount that it is necessary to
Ie fund the less interest the taxi
We ers will be required t. opay.
ed longest these bonds may be
funded for is ten years. SO no \
ter whether the Sinking Fund
ne les are made to bring in the
er amount IN the next two or Il
ty wears or not, at least sixty tn
RI and dollars a year will be rec
- ed to pay off Indebtedness bes
10 a levy for interest. This will
nd er a period of ten years. i
CT larger levy is maintained for
next three years the taxpa
-. will be benefited by being rec
ed 10 pay lCSS mISASSt e@AN -
zee less taxes, but no matter whs
ed done it will be hard on the
of payers. This cJndition has
of. brought about because suffi'
levies have not been made IN
past years to meet the req
as ments, both for county purI
of and Sinking Fund requirem
n+s During the past ten years
taxpayers of Sheridan county
icy had low levies as far as the c
ty was concerned and during
cks next few years they will hay
hat paw for these low leyies WI
~ vengeance. It is never ecoI
~ for the taxpayers to keep the
DE- les below requirements. No
ter who the county officials
I;et be in the coming years the &C
taxes will necessarily be high
can the sooner the officials and