Sinking Fund For New Culver Grade School 1946

1946 - Sep 18 - State Tax Board Gives Approval to Sinking Fund For New School

The final hurdle has been cleared in the setting up of a sinking fund for the building of a new grade school building.

The state tax board has given its official approval to the proposal, according to word received by Trustee D. W. Weaver, and now there is no legal step left that might upset the starting of raising the necessary funds for the much-needed structure. The state board has notified the county auditor that the tax is to be placed on the 1947 tax duplicates for Union township.

The sinking fund plan calls for a $1.00 tax on every $100 assessment of taxable property each year for five years. At the present assessed valuation it is estimated that this will raise $225,000 in five years, which is the bare minimum of the amount needed to construct the type of school building that will meet the local needs.

While there is always a chance in directing such a proposal through the maze of legal requirements that adverse action will kill the project, it was generally felt by those close to the situation that approval would be received all along the line. The township advisory board unanimously gave its approval as the initial step and no remonstrance was filed by 1ocal taxpayers.

In fact, most local citizens realize that a sad mistake was made a few years ago when a previous advisory board killed a plan to build the new school building with federal financial aid and that now the taxpayers are going to have to dig down deep in their pockets to pay for this shortsightedness. The present grade school building has been condemned as a fire hazard and its general structural condition is far from satisfactory. Besides these two factors, the building is completely outmoded for modern education and teachers are badly handicapped in trying to conduct classes in the antiquated schoolhouse.

The requirements of the state fire marshall for various improvements in the present building if school was to be held there this year have been met and that official recently gave verbal assurance that his official sanction would be forthcoming if the state tax board gave its approval to the sinking fund for a new structure. It is expected that this official action suspending the condemnation will be received within the next few days.

While the sinking fund is set up for a five year period, this does not mean that actual construction of the new building must wait that long. It is probable that erection of the grade school building will be started as soon as material is available as tax-anticipation warrants can be issued to cover the cost now that the sinking fund is officially approved.