TABLE OF CONTENTS Page Chapter I-HOW CAN SCHOOL BUILDING PROGRAMS BE 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 In the United States; in different sections of the United 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 15-23 24-33 34-44 45-76 77-100 _101-128 Chapter essentials; legal interest rates; laws governing denomi- TABLE OF CONTENTS (concluded) Importance; data needed; sample record forms. VIII-SOME FUNCTIONS OF STATE DEPARTMENTS OF EDUCATION IN ISSUING SCHOOL BONDS‒‒‒‒‒‒___139-150 What assistance can a state department give a local community that is contemplating issuing school bonds; Page Table LIST OF TABLES Page I-Legislation Affecting The Expenditure of School 22 II-School Bonded Debt Assumed Annually in United States 35 V-School Bonded Debt Weighted By Building Costs------ 42 50 VIII-Purposes for Which Madison and Ten Other Cities VII-Per Capita Payment for All Governmental Costs in 50 IX-Per Capita Expenditure for Maintenance, Operation and Capital Outlay Purposes (Including School Expenditures) in Madison and Ten Other Cities----. 40 XI-Per Cent School Expenditure for Maintenance, XII-Per Capita Expenditure for Capital Outlay (Including 51 X-Per Capita Expenditure for Maintenance, Operation, and Capital Outlay for Schools, in Madison and Ten Other Cities 53 52 54 55 XIII-Per Cent of Total Municipal Capital Outlay Devoted to Capital Outlay for Schools in Madison and Ten Other Cities 56 XIV-Tax Rate Per $1,000 Estimated True Property Valuation, for Municipal Purposes (Including Schools) in Madison and Ten Other Cities 57 XV-Property Assessment and School Tax Rate in Mills for 58 LIST OF TABLES (Continued) Page 59 XVI-Total and Per Capita Net Debt at Close of 1921 in Table XVII-Existing Limitations Concerning the Amount of School XVIII-Existing Limitations Concerning the Amount of School XIX-Existing Limitations Concerning the Amount of School XXI-Existing Limitations Concerning the Amount of School XXIV-Schedule for Payment of Twenty Year Serial Bond Issue of $500,000 at 5 per cent, All Total Annual Payments Being Approximately Equal--- 60 61 XXVIII-Schedule for Payment of Ten Year Serial Bond Issue of $500,000 at 5 per cent- 62 64 XXII-Ratio Between Net Debt and Assessed Valuation in Madison and Ten Other Cities-December 1921------ 67 XXIII-Schedule for Payment of Twenty Year Serial Bond Issue of $500,000 at 5 per cent, Annual Payments on Principal Being Equal 85 63 86 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.. 89 87 888 91 XXIX-Existing Limitations Concerning the Length of Term 93 92 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 95 XXXIII-Existing Limitations Concerning the Length of Term of School Bond Issues In Western Section of the United States 94 XXXIV-Schedule of Maturities for Principal of a $100,000 School Bond Issue 96 98 XXXV-Existing Legal Limitations Concerning the Maximum Rate of Interest Which May Be Paid on School Bonds Issued in Eastern Section of the United States________103 XXXVI-Existing Legal Limitations Concerning the Maximum Rate of Interest Which May Be Paid on School Bonds Issued in Southern Section of the United States______104 XXXVII-Existing Legal Limitations Concerning the Maximum Rate of Interest Which May Be Paid on School Bonds Issued in Great Lakes Section of the United States----105 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 Rate of Interest Which May Be Paid on School Bonds Issued in Western Section of the United States--------107 XL-Median Gross Rate of Interest Paid on School Bonds in New York State 1916-21____ ._____112 XLI-Median Net Rate of Interest Paid on School Bonds in New York State 1916-21 112 XLII-Financial Statement of Fort Smith, Arkansas_______127 |