Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1885-03-28
THE TOWNSHIP BONDS.
From the Intelligencer, Jan. 10, 1891
RE-PUBLIsHED BY REQUEST.

|
In the matter Of re-compromising
the bonds of Lexington, Washington
and Sni-a-Bar townships it seems to us
best to make haste slowly. Especially
should all the facts be laid before the
people prior to any action at all other
wise there may be cause for regret al
what is done.
| Mr.. Skinker asks us to compromise
the bonds of all three of the townships
at the uniform rate, i'll each. of )! cents
for bonds and 65 cents for judgments.
| The present rates of compromise,
agreed upon at the St. Louis bond
holders conference, are, for Lexington
township As cents for bonds and 41b
cents for judgments; Washington town
ship, S5 and 374 cents; Sni-a-Bar, 3C
and S24 cents.
| Mr.. Skinker's position, and that OF
Judge Krskel, is, that Washington and
Sni-a- Bar should pay the same compro-
mise rate as does Lexington township
as they hold that they can do SO with
the same percentage of taxation.
Let us see just how each township
stands.
The debt of Lexington township, with
simple interest from date of bonds
now amounts to $3O7 ,243. The assess
ed valuation of the township is 81 ,l3l ,.
234. With the old bonds compromised
at 65 cents, rs nearly all of them are in
judgments, the debt will amount tC
$2l3,497. At six per cent. it will re-
quire in round numbers 5000 annu-
ally to pay the interest upon this sum,
or, with a small sinking fund, tax Of
20 cents on the one hundred dollars
The state tax is now 40 cents; county
tax, S1.00: school tax in Lexington 4t
cents; and with the township tax at 7C
cents would make the tax in the coun-
try about 50 so. In Lexington 81 81
will have to be added, making the tax
IN this city So So on the hundred dol
lars.
The debt of Washington township
with interest as In the above case
amounts to S126,75O. The assessed
valuation of the township is, Sl,Os2,
160. Compromised at IS cents thu
debt will amount to 100000. AT 81,
per cent. it will take $5 400 per annun
} to pay the interest, or, with Sigh
sinking fund, tax of 20 cents on tn
one hundred dollars. The state tax i
now 40 cents; county tax, 81 90: aver
} age school tax in Washington town
ship, 81 S-3 cents, and with town
, ship tax of 20 cents would make tn
f taxes in that township amount t.
50 AZ 2-3 on the hundred dollars.
The debt of Sni-a-Ba township
I figured as for the above townships
amounts to $74,70O. The assessed va
| uation of the township is S702, ,491
Compromised at Mr.. Skinker's figur
q of 65 cents the debt will be, III roun
a numbers, $50, 900. At six per cent. g!
will take 5000 per annum to pay tn
interest, or, with a moderate sinkin
4 fund tax of 20 cents on the hUndre
i, dollars. The state and county take
u amount to 81 40; average school tax
!, Sni-a-Bar township, 40 2-3 cents; wit
Y a township tax of 20 cents this woul
v make tax of 80 SO % on the hnndre
! dollars valuation in Sni-a-Bar tow
ship.
o Allowing for delinquencies it will /
q seen that these calculations are vel
q closely made, and that no less rates
!. taxation can be made to do. We sui
d NIT the facts to the people of the tow
ships for their deliberate consideration
There are grave and weighty arg
is ments upon both sides of this questol
"a but it does seem to us, all things CO.
sidered It our creditors should
y satisfe, the rate of compromi
al already agreed upon by so many
e, their representatives, in a conferen
,e sought by them, and in which the
terms were met.
=! We pause tor an exposition OF rea
Is ons why we are incorrect in that Opil
g ion