Murray City School District (Utah) Coupon Bond Register, 1939-1959.

This series contains a volume used to document payments made on ninety-six $1000 bonds issued by the Board of Education to fund school construction. The bonds were authorized by the Board on 1 February 1939 and came due in successive sets on 1 February each year between 1950 and 1959. The district made semi-annual payments on the bonds, with a 3% annual rate of interest and received coupons as a receipt for each payment. The coupons were pasted in this book as a record of payments made. When each $1000 bond was paid off, it was marked as paid and returned to the district to be inserted in the book with the coupons for that bond. The $96,000 in bonds represented in this series was presumably a match to $96,000 in federal funding given to the school district through the Public Works Administration (PWA) to help in construction of a new Arlington School, renovation and additions to the Liberty and Bonnyview Schools, and renovation of the gymnasium at Murray High School.