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City Council Rejects School Scrip for Central School Plan
By a 5 to 2 vote the council refused to issue 15 066 in six percent scrip to fund the Central school building on Smith and Parr plans. The school board argued bids exceeded estimates, urging a $34 000 plan to house 800 to 1 090 students, with retirement of the scrip in about five years via maintenance savings and surplus funds. Critics called the move illegal and risky to cash basis finances, while supporters urged strengthening the school system.
MENTIONED IN THIS ARTICLE
Ee Aa
Scrip
Smith & Parr
Witherspoon
P. Lipscomb
R. L. Bass
A. Collins
McClurkan
City General Fund
Hoard