INTEREST ON SCHOOL FUNDS.
Mr. SMITH, of Tippecanoe, offered a resolution that it be the sense of this House that the rate of interest on school funds shall not be less than 7 per cent.
Mr. McMULLEN opposed the resolution and said that so far as bis County Is concerned school money has been lying in the office unused because the rate of interest was too high. The current rate of interest is only 6 per cent. He was opposed to that resolution.
Mr. MUTZ was willing that the resolution should be referred to the Committee on County and Township Business.
Mr. HEFFREN was opposed to the resolution,, and said we have in Washington County $10,000 of school fund lying unused because; it has to be loaned at 8 per cent. He moved to lay the motion on the table.
The motion was agreed to.
The House adjourned till 10 o'clock a. m. to-morrow.
