The Western news. [volume] (Libby, Mont.) 1933-current, 1948-09-30
Vote SATURDAY.
On Bond Issue
For Schools

Iodate an attempt has been made
TO present to the public the need for
adoltlonaI school buildings and to
answer any questions that have been
asked concerning these proposed
buildings. One question has been
Isit until this week WHAT WILL
II COST ME AS A TAXPAYER?
IL is impossible to obtain the valua-
tlon and figure the taxes for each
lndlVlduaI taxpayer, but it has been
possible to get the information on
number of homes and farms which
1t IS felt are average or above in
valuation. In order to arrive at
these Individual costs some general |
information must first be given.
The bond elections for Saturday |
are for two amounts S165. 100000 for |
the grade school and sos, 100000 for
the gymnasium auditorium. If these
elections carry, the bonds will be
sold at the prevailing rate of in
terest and it is believed that rate
Will be 30 or lower. In figuring
costs for the individual taxpayer in
the last election we figured 90 and
the bonds were sold at 1857. We
hope again this time that costs will
actually be lower than figured In
figuring the total amount of interest Is
paid, the amount upon which in
terest is paid, decreases each year
so that the amount actually paid in {
the 20 year period will be about S
the same as interest on the total
amount for a period of 10 years.
The total cost of the grade bonds
will then be $l65, 100000, the amount
of the bonds, plus interest of ap-
proximately SAG, 10000. making
total of S2l4,50000 to be paid dur
ing a period of 20 years This a
mount divided into 20 payments
over the period for which they are
issued will require $l0,725.00 to be a
paid each year The taxable valua- il
ton of the Libby School District Il
is S2,359, $500, dividing this amount Il
into the amount to be paid each y
year the amount of mills necessary Il
to make the payment can be OBJ T
tanned. In doing this it is found S.
that a levy of approximately Az
mills will be necessary. al
Doing the same thing for the addi- S.
ional amount needed for the gym RI
lasium- auditorium but using diff al
,erent figures it is found that for
he sos. 10000, proposed issue, in T.
crest in the amount OF. $28, 10000 If
AN be expected to be paid. Add
ng the bonds and interest as above
md dividing by 90 it is found that tn
IS, 1880 per year will be needed nj
o make payments Dividing this uT
mount by $2,846, 24200 the valua- m
ion of the high school building M
istrict which include the Warland
nd the Manicke school districts in IN
edition to the Libby district, it is ~
ound that levy of 2-15 mills will III
e required to raise the amount oil
Below we are giving the infor- WI
lation on number of homes and NC
arms. These figures include both LIE
ONE and household goods. 1t is sol
lteresting to note the average fig Wo
res given at the bottom of the ais
lart For these twelve cases the Tsp
5erage tax is $9575 The increase /
Ie to the grade building would be Oc'
rs and for the High School $1.56 DIN
a total of $48l. In round num- son
RS it means that if these pro-
'sed issues carry that the taxpay- VIC
who is now paying $500 in taxes PR
i'll pay about $4,000, which in :,
ease amounts to approximately "
c per week. If you have your OF
m taxable valuation you can fig eCt
muItinlving vour faxabie vaIIIa- cial
N bv each If the two milIaoes ton
zen above or by adding them and the
IN multiplying nan
Remember it is necessary for 400 are
those eligible to vote to do so Con
the election is to be valid. Facts ProJ
We been presented as to the issue ne
get out and vote how you vote amp
your own privilege in this coun- gam
T.; but at least get out and express ligh-
II opinion at the polls.
COST OF NEW BUILDING PRO