Decatur Daily Democrat, Volume 27, Number 87, Decatur, Adams County, 11 April 1929 — Page 3

former local MAN EXPLAINS HER STATE LAW j Dwight Peterson Gives Synopsis Os Revamped Barrett Law * synopsis of House Bill No. 306. -M ted by the last General Assembly Len by .1. Dw‘Bht Peterson, of the ' sanities corporation, indiannn. formerly of Decatur, appeared recent issue of the Indianapolis a The new law. which governs he ance of street Improvement oblfXis is classed by Mr. Peterson as of'the most constructive pieces legislation that has been passed in J, ce „t years. His synopsis of the law fOll f*r’years there has been no re•aonsibility back of our method of I financing public improvements of a Ll-municipal nateure. It is true we Save had tlw Barrett law- which gave ltlP property owner the right of paying In installments over a period of ten vear s and authorized the issuance of snecial assessment bonds payable only out of the funds collected. The city I officials, into whose hands the administration of the law was placed, were I reluctant to enforce such terms as were designed to assure prompt pay meut. The holder of these securities was at their mercy. He could only retaliate by demanding a bigger and bigger discount from the contractor, whose business it was to dispose of the bonds; and the contractor in turn had to get more for the work, or slight the job. The property owner has had to foot the bill. This bill sponsored by bankers, contractors and property owners, will correct all of this because It fixes responsibility and sets up the necessary machinery to make it effective. We believe Barrett law bonds will be more desirable under this new law, and that prperty owners, municipalities and investtors will be tebter served in the future. Synopsis of Act “House Bill 306, enacted by the Indiana General Assembly at its 1929 session, signed by the Governor and effective on March 16, 1929, was enacted for the purpose of making direct special assessment bonds, commonly referred to as “Barrett law bonds," more desirable to investors, and there by facilitating public improvements and reducing the cost thereof. Generally speaking, the act provides for the collection and enforcement of, Barrett law assessments by the officials of cities and towns rather than by county officials; the mandatory sale of property for delinquencies twice each yeai; the collection of interest on assessments by property owners, except by the payment of sufficient interest to cover the outstanding bond for their full term; the deposit of all. Barrett law funds in public depositories and the use of the interest collected thereon, together with all delinquent fees, for the purpose of taking care of deficiencies in improvement bilod funds; the building up of a revolving fund to take citre of deficiencies and defaults in respect to bonds hereafter issued; and for certain specific penalties to which officers charged with duties under sai dact are sub-| ject in the event of their failure to comply with the provisoins of the act. I “Heretofore in cities and towns; which' are county seats, the county treasurer, acting as the city or town treasurer, has been charged with the duty of collecting and enforcing Barrett law assesments, and in many cases, this arrangement has not worked sut satisfactorily for the reason

- - . ' < I CONSTRUCTIVE HISTORY | :i Ei *’ The history of the First National Bank is one in which ■ every citizen of the community feels an interest, because it has been a history of community building, in which the prosper- m 1 ity of the individual has been paramount. | , ■. ’ L WihtTMQfionQl Bank C Capital and x

that county treasurers have not beeni I familiar with the workings of the Barrett law, hive not sent out notices to, delinquents, YTOr attempted to make : sales of property for delinquencies. ' and have been slow in segregating the funds colected so that the same might ' promptly be applied to maturing bonds and coupons. Under the new/act 1 the collecting and enforcing of Brrett ' law assessments and the payments ] of maturing bonds and coupons will be transfeired on Januaiy ], 1930, to city 1 officials in all county seat cities anil ' towns except In the city of Indianapolis. ] Delinquent Notice “As tn the enforcement of delinquent assessments, the new act provides for the sending out of notices to l delinquents, the first within thirty' (30) days of the delinquency and the second not less than sixty (60) nor more than ninety (90) days after the date of delinquency an dthe offering for sale of the property covered by delinquent assessments within four 14) months after the delinquency occurs, beginning with the year 1930. The previous statute provided for the sending out of only one notice and she sale of property for delinquencies only once each year, and such provisions were in many cases, not compiled with for the reason that there was no specific penalty provided to be enforced against the officer failing in his duty. “As to Barrett law bonds hereafter issued, the new act provides that such “KON JOLA PROVE!) BLESSING TO ME," SAYS HAPPYLADV Suffered More Than A Year— No Other Medicine Gave Her Even Temporary Relief 5 MRS. LULA HAMMOND | “Konjola proved a blessing to me," said Mrs. Lula Hammond, 3933 Ivy I street, Hammond. “For more than a year I was the 1 victim of kidney trouble, but the very first bottle of Konjola worked like a miracle. I must have tried at least 1 twenty different medicines and treatments, and not a single one of them helped me at all. My condition became worse and worse. It got so that I had to get up five times every night. My limbs were badly swollen and so painful that it was with difficulty that I could get about the house. “I was through with medicines, but friends insisted that I give Konjola a j chance. Within a week the swelling I and pain had left my legs, and I had |to get up only once at night. 1 am i going right ahead with Konjola, for if ' one bottle did such things for me what will a half-dozen do? No wonder Konjola is known as the medicine with more than a million friends." Konjola is sold in Decatur, Indent Smith, Yager & Falk’s drug store and by all the best druggists in all towns throughout this entire section.

DECATUR DAILY DEMOCRAT THURSDAY, APRIL 11, 1929.

bonds shall mature and be payable on July 1 mid i.n. 1, instead of June 1 and Dec. I as heretofore provided by law. This change was made for the purpose of giving the collecting officer an additional• month in which to make collections and segregate the funds, und will undoubtedly result in the more prompt payment of Barrett law bonds and coupons. This is true foi the lesson that the collecting officer will have additional time to send out the first delinquent notice and thereby collect at least a portion of the delinquencies. The situation under th<* previous law was that even In cases where the property owners had apid their assessments prmptly the collecting officers did not always have the funds so segregated by June 1 and Dec. 1 as to make prompt payment of the bonds and cupons, resulting in a loss of'intel est to the holders of the bonds and coupons. Furthermore the new act pi ovldes that on all new bonds six months' interest in advance shall be collected with each principal installment so that property owners will have onl yone payment to make each year rather than two as heretofore provided. "Specific provisions is made for al collection of interest on assessments after the time of delinquency and that the interest go collected shall become a part of the fund for the payment of the bonds issued on account of each ■— i r — i. - 1 —

j Announcing to the motorists of Decatur, Adams County and Vicinity, a new Goodyear Tire Service WF HAVE moved to Decatur to make our permanent home. We located here, because we like the people, because we felt Decatur was a better city, AEHAVLmo et ...... w e brine with us a wealth of experience, 16 years of successful Tire merchandising. We handle S Goodyear The, plus oar Service, will render you many economical miles. On This Basis We Want Your B'Jtiness. LOOK AT THESE PRICES! e ' Sa Hr fw Ml rawj i HIGH PRESSURE 30x450 SS. Ballobns $9.70 HIGH I REoSI RE ->2x6 SS Heivy DiHv Cd $34.50 ALL-WEATHER , 28x4.75 SS. Balloons • ••$lOuD 30x3 Cl. Path. Cord $5.20 tn qi/ ci Cord $7 65 29x4.75 SS. Balloons ...$11.20 30x3!. Cl. Path. Cord... .$5.30 BALLOONS ooqi/ ee Cord 810 40 30x4.75 SS. Balloons . ...$ll.«0 30x3’4 Cl. Path. Oversize $5.85 9Q . plh n a |loon $620 (ord i.m/Jo 29x5.00 SS. Balloons ...SIL6S aox SS. Path. Cord.... $7.40 29x4.40 SS. Path. Balloon sb.-v q 9 x . Co* sl3 55 30x5.00 SS. Balloons ....$12.00 31x4 SS. Path. Cord $9.85 . lC* i> a t|. Balloon $7 95 qqM qc Cnrj : .$14:25 3K5.00 SS. Balloons .. ..$12.50 32 x4 SS. Path. Cord .. . .$10.65 |0x4.50 SS. I ath. Balloon Cord . .$18.30 29x5.25 SS. Balloons ....$13.60 33x4 SS. Path. Cord ....$11.25 20x4*75 SS Path. Balloon $8.60 .1“ uq’cord sl9 65 30x5.25 SS. Balloons ....$14.00 34x4 SS. Path. Cord ....$12.10 .L’ path Balloon $8.90 ’•0 - «5 S *Cnrrl s2l 45 31x5.25 SS. Balloons ....$15.40 32x4! S S. Path, (ord ..$14.95 ; |4‘J* s ll 35 BALLOONS 31x6:i)0 SSC Balloons :: ::$16:35 TR f U f h K OWI^. ERS s ! D |-° s Ok 31x6 00 SS Kth Ba!"’ sl3 ALL-WEATHER 33x6.00 SS. Balloons ....$17.40 K a L th £ Se P n®. f " B cd «2? 75 Ttx6oo SS Path Bal sl3 80 OS 1: SZ::::sius &hZ Duty cd :s24:so s&oo ss: P at h : Bai: ::$i6: 65 Every Goodyear All-Weather and Pathfinder tire is guaranteed for life. This means that if any tire fails, due to imperfection of material or hoik 30x31 2 ci. speedway cord $5.10 manshift whether it has delivered 5 miles or 50,000 miles service it is due ss. b., = ww for adjustment. What could be fairer? L McDuffee Tire Service 110 N. 3rd St. DECATUR Phone 262

spei lflc Improvement. The holders of bonds and coupons are entitled to Interest after default nt the same rate us provided In the bonda to lie paid paid prior to maturity, piovlded the holder of the bonds and coupons send the same in for collection and have the Maine atamped "Not paid for want of funds. This Interest after default is payable until funds are on hand to pay such default bonds and coupons and provision Is made whereby the holders of matured bonds "and coupons may request the officer charged wltli 1 the payment theieof to notifiy Much holders when funds are on hand with which to pay such defaulted bonds and cuopons. These notices are to be sent out in the ordei in which requests for notices have been filed. This provision will obviate the necessity of presenting defaulted bonds and coupons from time to time until payment can be secured. Prepayment Cut Off “The chief reason for deficiencies in Barrett law bond funds has been the prepayment of ssaesments by property owners under the provisions of the statute which permitted such prepayments by the payment pt only six months' interest in advance. In 1927 i the Legislature passed an act applying only to the city of Indianapolis which ■ required the payment of interest, E where prepayments were made, for i the full period tor which the bonds out-

standing against such assessments run. By the provisions of the new act this provision now applies to t all cities and towns of the state and as to bonds Issued after the going Into effect of the new act thereshould be no deficiencies caused by the prepayment of assessments. It would appear, however, that In the case of bonds issued prior to the going into effect of the new act property owners still have the right to prepay their assessments by paying only six months’ interest in advance and deficiencies on account of such prepayments will continue so long as such old bonds are outstanding. Provision is made for the creation of a "Special Assessment Delinquency and Deficit Fund," This fund is to be built up from all fees and penalties collected on account of delinquent Bairett law assessments and ull interest collected on Barrett law money not belonging to some specific bond fund. The fund is to be a revolving fund out of which shall be paid all deficiencies in improvement funds here after arising because f the failure of the city or town to levy sufficient valid assessments, or resulting from the fllure to collect interest on assessments after delinquency, or for any other reason. This fund may also be used for the purpose of taking up matured bonds and coupons, issued after ■ the taking effect of the new act, and foi the payment of which Sufficient

assessments have not yet been col-1 lected. “The act provides thut the officers charged with the duties set out In the act shall, on their failure to carry out the provisions of the act. be personally llulile to any person suffering loss on account thereof and that such office under the provisions of the wt of Mai ch 8, 1897." o ... —— «¥*¥¥***** **J5 * NEWS FROM PREBLE * * if. ¥ ¥ ¥ ¥ ¥ ¥ ¥ ¥ K Mr. and Mis. George Bultemier and daughters were shoppers in Fort Wayne, Friday afternoon. Dr. and Mrs. Hoy Goldner and son, of Lansing, Michigan, spent a few days visiting with the farmer’s parents, Mr. and Mrs. E. A. Gokiner, last week. Mis. Gladys Shady and son’s were the guests of Mr and Mrs. Milton Hoffman and family Wednesday. Cyrus Cable of Decatur, was a visitor in Preble Friday. Betty eJane and Nina Mae Gilbert, of Monroe, spent last week visiting their grand parents Mr. and Mrs. Albert Shady. Mrs. Robert Sherlock and Mrs. Smith, of Carunna, spent Wednesday visiting witli Mi. ami Mrs. Milton Hoffman and family. Mr. and Mrs. Paul Bosse and baby,

PAGE THREE

|of Decatur, called on Mr. and Mrs. Arthur Bleberlck and baby Saturday. Mr. and Mrs. Will Meyers had .is their guests for dinner Friday, Dr. and Mrs. Huy Goidnei and son of Lansing, Michigan, and Mrs. E. A. Goldner. Dotis Johnson ofPeterson was the guest of Wuheneta Sullivan, Tuesday evening. Miss Edna Bultemeler and Theodore Bultemeier called on Mr. and Mrs George Bultemeier and family Friday. Mr. and Mrs. Milton Hoffman and son Donald und daughter Miriam were dinner guests of Mr. and rs. James Ernest of Ciaigville Sunday evening. Mi. and Mrs. Walter Smith, of Indianapolis, spent the “week-end visiting the former’s parents, Mr. and Mrs. John Smith. Mr. and Mrs. John Kirchner and daughters Irene, Lorlne and Erma M.s. June Sffackley and son Darrell Eugene spent Friday evening with Mr. and Mis. Marti nKlrchner and daughters Paula and Mildred, the occasion being Mi. Martin Kirchner’s birthday. Robert Frltag, of Fort Wayne, spent the week-end visiting his parents Mr. and M s. Wm. Fritag. John Kirchner left Tuesday morning for Griffith, Indiana. Mr. and Mrs. Walter Shady and daughter, of ort Wayne, spent the week end visiting the former’s parents . Mr. and Mrs. Albert Shady.