TABLE OF CONTENTS Chapter Classification of school expenditures; two methods II-WHAT IS A SCHOOL BOND?. A bond an instrument to borrow money; bonds classified; municipal bonds; corporations; municipal corporations; varying types of municipalities; differentiating between municipal bonds; security of school bonds; sum mary. III-TRENDS IN SCHOOL BONDED DEBT ASSUMED ANNUALLY In the United States; in different sections of the United States; relation between school bonded debt and other municipal bonded debt; relation between school bonded debt and school building costs; summary. IV-JUSTIFYING A SCHOOL BOND ISSUE_ Variance between opinion and practice; fact versus opinion; criteria for evaluating existing school plant; measuring the ability of a community to finance public education; sources and selection of data; a case or type study; what does bonded debt buy; who spends the money obtained by bonding; assessed versus true tax rates; assessed versus true valuation; relation of debt limits to coterminous corporations; summary. V-RETIRING SCHOOL BONDS.. Some factors that have affected retirement schedules; different plans of retirement; the straight bond defined; the sinking-fund bond defined; the serial bond defined; relative worth of the straight, sinking-fund and serial bonds; superiority of the serial bond; varying types of retirement in the serial plan of payment; influence of length of term on retirement plan; maturity schedule; summary. VI-MARKETING SCHOOL BONDS__ Essentials of an ideal investment; an analysis of the desirability of school bonds as investments by these Page 15-23 24-33 34-44 45-76 77-100 101-128 Chapter TABLE OF CONTENTS (concluded) essentials; legal interest rates; laws governing denomi- Page Importance; data needed; sample record forms. VIII-SOME FUNCTIONS OF STATE DEPARTMENTS OF EDUCATION IN ISSUING SCHOOL BONDS_. What assistance can a state department give a local community that is contemplating issuing school bonds; Table LIST OF TABLES Page I-Legislation Affecting The Expenditure of School 22 II-School Bonded Debt Assumed Annually in United States 35 40 V-School Bonded Debt Weighted By Building Costs------ 42 VI-Wealth Per Inhabitant and Population of Madison and Ten Other Cities 1921__ 50 50 VII-Per Capita Payment for All Governmental Costs in 50 51 IX-Per Capita Expenditure for Maintenance, Operation XI-Per Cent School Expenditure for Maintenance, 333 53 54 55 XIII-Per Cent of Total Municipal Capital Outlay Devoted XV-Property Assessment and School Tax Rate in Mills for 58 LIST OF TABLES (Continued) Table Page XVI-Total and Per Capita Net Debt at Close of 1921 in XVII-Existing Limitations Concerning the Amount of School Bonded Indebtedness that May be Assumed in Eastern Section of the United States.. XVIII-Existing Limitations Concerning the Amount of School XIX-Existing Limitations Concerning the Amount of School 63 XX-Existing Limitations Concerning the Amount of School XXIII-Schedule for Payment of Twenty Year Serial Bond XXIV-Schedule for Payment of Twenty Year Serial Bond Issue of $500,000 at 5 per cent, All Total Annual Payments Being Approximately Equal--- XXV-Schedule for Payment of Twenty Year Serial Bond Issue of $500,000 at 5 per cent, Largest Annual Payments Being Made During the First Ten Years----XXVI-Schedule for Payment of Twenty Year Serial Bond Issue of $500,000 at 5 per cent, Smallest Annual Payments Being Made During the First Ten Years-- XXVII-Schedule for Payment of Twenty Year Bond Issue of $500,000 at 5 per cent, No Payment Being Made on Principal until the end of the 11th Year_. XXVIII-Schedule for Payment of Ten Year Serial Bond Issue of $500,000 at 5 per cent___. XXIX-Existing Limitations Concerning the Length of Term of School Bond Issues In Eastern Section of the United States XXX-Existing Limitations Concerning the Length of Term of School Bond Issues In Southern Section of the United States 64 85 86 87 888 89 91 92 36 336 93 Table Page XXXI-Existing Limitations Concerning the Length of Term of School Bond Issues In Great Lakes Section of the United States XXXII—Existing Limitations Concerning the Length of Term of School Bond Issues In Great Plains Section of the United States 94 95 96 98 XXXIII-Existing Limitations Concerning the Length of Term XXXVII-Existing Legal Limitations Concerning the Maximum XXXVIII-Existing Legal Limitations Concerning the Maximum Rate of Interest Which May Be Paid on School Bonds Issued in Great Plains Section of the United States____106 XXXIX-Existing Legal Limitations Concerning the Maximum XLI-Median Net Rate of Interest Paid on School Bonds in 112 XLII Financial Statement of Fort Smith, Arkansas_______127 |