The Bismarck tribune., 1934-04-07
FISCAL EXPLANATION
OF CONSTRUCTION IS
GIVEN BY R|SHWoRTHI
Bank Of North Dakota Took
s752,0o0 in Certificates
of indebtedness
EvALUATIoN CUT WAS FELT|
Made Second Revision Of ORR
ginal Capitol Tax Levy
Necessary in 1888
evALUATIoN CUT WAS FELT

Necessary in 1888
BY r. NJ. RISHWORTH
Chairman, North Dakota Capitol
Commission
Capitol buildings are materia
things. but 1t Is we'll to remember
that they also are symbolic Of the
sovereignty Of great free people.
Therefore the design OF the build
ing is important. Solomon. king oi
Israel, realized this when, to focus
the attention Of his people on the
Importance OF authority in govern
Ment and religion. he caused the tenn
pie to be designed and constructed
Upon the destruction Of the temple
the decadence Of the Jewish people
began and their subjection to an alien
race was an accomplished fact.
The legislature OF 1929. anticipating
the need OF = new capitol building
In the near future, enacted q tax
levy Of 40 Of one mill for 1890, and
1/1O Of one mill for the years 1891
to 1886 inclusive, such taxes to be
paid into special fund known as the
state capitol building fund.
Fund Started in 1881
The 1891 legislature met shortly a.
ter the old capitol building had been
destroyed, passed q law setting up the
organization Of capitol commission
and appropriated *2000,O00 for new
capitol building. It also amended
the 1929 capitol building tax levy. by
levying 1/l0 Of one mill for the years
1891 to 1910 inclusive.
Under sections IL and II Of the
Enabling Act" approved Feb. O.
1889, the federal government donated
t. the state Of N Nprth Dakota $4,000
acres Of land for capitol building
Money derived from the sale Of such
'2nd have been credited by the state
treasurer to the capitol building per-
manent fund. Moneys received q.
rentals or income from investments
have been credited by the state treas
urer to the capitol building interest
and income fund. In chapter 205
paragraph II. the 1891 legislature ap-
propriated all income received from
these lands. as well as all income
realized and to be realized from tax
levies, for the erection OF the capitol
building. They also appropriated
$4,000 from the state treasury for
this purpose, and that amount was
transferred from the fire replacement
fund. which had been credited with
insurance collections after the fire.
Certificates Issued
During December. 1882. the board
OF state capitol commissioners issued
100000 Of capitol building fund GER
tificates OF indebtedness at per cent
interest, which the Bank Of North Da-
kota bought at rar. there being nc
other bidders for these certificates
The sale Of these certificates necessi-
lated the pledging Of all tax income
and income from lands, for the re-
demption Of certif tificates issued or tc
be issued and interest on the same
md henceforth NIL such collections
were credited by the state treasurer
and state auditor to the capitol build.
ing redemption fund.
The following statement shows the
amount Of money In the state treas
Nry available for capitol building con.
otruction to Dec. 80. 1882:
Iransferred from Capitol
Building Permanent
Fund and Capitol
Building Interest b
Income Fund .....$ 737.31lOg
Tax collections to Sept. 30.
1S3x ............... 70,033.O0
Appropriated from Fire
Replacement Fund. 430,Oo0.0o
Capital Building Fund
Certiftcstes-lst issue 4O0, 1000. .O0
AUsA ............... 1,647.X47.OS
This income war not completely dis.
bursed until during April. 1894.
Cut Taxable Valuations
The legislature of 1881 had approved
erection Of . 100000 capitol build
Ing. architects had planned the build.
Ing to meet such approval, and the
board Of state capitol commissioner.
had accepted these plans and let con.
tracts for building the cost Of which
was not to exceed $2,000,O00. In thu
spring Of 1882 an initiated measur.
was passed by the people reducing tls
assessed valuation from IS per cent
t. 50 per cent. and the amount to b
received from taxes for the erection
Of the building was therefore reducee
33 La per cent. It became apparent
that the next Legislature would havl
to raise the levy In order that sui,
1tcient funds would. be available. Tal
1893 legislature further amended th,
previous tax levy, and levied lis o.
one mill for the years 1888 to 1910 In.
cluSive, to take care Of this situation
During July, 1888. $4,000 Of capito
building certificates Of indebtedness,
we're redeemed and interest paid Of
same. from the capitol building re.
demption fund, inasmuch O. fund
were avatlable tcp take up these Ger.
ttficates, and interest could be save<
Tor Appsoximately five months. Tht
left $4,000 Of certificaes Of indebt.
9dneGg outstanding.
There y 3 distinction between cap.
ltOl building funds that should b
cleary understood. The capitol build.
1ng redempEicn fund was created q
: depository 1oe tax income and n.
eonae from landI, pledged b repa,
4he certificates " Indebtedness anl
1nteEoot. No money can be used from
el,fs 1llnd ~ any other purpose. III
SoSfid buildine fund special IN
1otd bstjding hlnd generai ase 81