The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1885-03-21
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nm SENTINEL -

=. the people of Grenada county
have definite idea of the burden
i G Il upon them in the matter of the
tents in the United States Court on
sls;ms of the assignees of the Vicks-
land, and Nashville Railroad bonds vs.
county, therein give the result OF
,seulstion made by me, based upon
tsrms offered the county by plaintiffs.
|, proposition is, if I am correctly ad.
to i've the county ten years with,
S1icb to pay their judgments, which
nyimate the sum of $S5,OOO 90.
y of the bonds, now merged into
sments, bear, 1 am informed, six per
and some eight per cent. They ask
the county OF Grenada issue new
ds drawing six per cent per annuna,
in such denominations that the
rcipal aud interest of the new bonds
be equal in the ten installments, so
that the county will have to pay an
,sl amount OF taxes to discharge said
ebtedness annually for ten years. The
ole valuation of the taxable property
The county for last year was $780,
] 10, barring additional assessments.
be interest on the whole sum of $685.
b 90 at six per cent. per annum, pay
bntmada according to their proposi>
ns amounts to $20,050, thus making a
Ial of Sll3,O50 90 to be paid in the
! years or $11 ,305 90 per annum. AS
hing that the taxable property of the
unty will be yearly what it was in 1884,
/ will require an annual levy of eight
h two hundred and sixty>four one
puandth mills on the 81 90 of taxable
bperty, or eight dollars twenty>six
d hundredth on the $1,000 90. To
Fke cash payment of the $4,000 90
IA discharge the debt at one levy,
build require a levy of six and sixteen
i ehundrdth cents on the 81 90 or SOL go
the 81 900 90.
The thing for the citizens of the coun>
to determine, on the 28th inst, is
|ether they will shear the ills they
I've, or fly to Others they know not Of"
hether they will bear the burden of
ying this Indebtedness, or entail it
ION their children. We, Of course.
ould and would take up arms against
is sea of trouble, if by opposing, we
uld end them, but after investigation,
NOW of no way by which it can be ul>
nately defeated, By the resignation
the Board of Supervisors, before the
mmons under mandamus proceedings
served upon them, it could be delayed
not wholly defeated, unless there be
,islation to cure the detective mode of
llecting from a headless corporation,
I we cannot always get along without
unity representatives. Section 2549 OF
le 1880 is substantially and almost
srally the same as section 1910 of the
va code, under which the Supreme
urt of the United States. in the case
Supervisors vs.. Rogers Z Wal. It's de-
les that (the Supervisors having been
1t serced with process) the Court had
tlorty to appoint the United States
'rshall to levy the taxes and collect
an to pay a judgment VS.. their county
ich the Supervis, had refused to do
one thing our Supervisors should be
tain, and that is that the matter
'uld not be SO arranged and left that
county will have to pay both, the
igments and the ne y bonds issued tol
cir satisfaction, if it be concluded 10
US issue bonds. More business tact
ould be displayed in the ending than
Is in the beginning of this dire evil,
If recent statutes limiting the levy o1
xes will, in this matter, avail us moths
9, since subsequently, passed statute
lich repeals or restricts the power ol
sation previously given, is, in so far
its affects bonds bought and held un-
the statue authorizing the issuance
the bonds, nullity: Won Hoffman
City of Quincy, 4 Wal. 535.
R. HORTON.