The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-03
The Proposed Issue Of 100000 in Bonds
for that Purpose.
4 TALK WITH COUNTY JUDGE vAsAER
ne win soon Issue a Proclamation
for an Election ON August 25-How
Proposed Bonds Are to he Used.

II am glad you nave asked ne theSe
questions" said Judge Vasmer, because
am convinced from some letters which
have received that there is being organ
lied an opposition to the proposed bona
issue and that the parties engineering this
oppositiou are nisrepresenting the facts
to the taxpAying voters, hoping thereby
10 encompass the defeat Of the bends
can not conceive that much argument or
a great deal Of speechmaking will be
necessary to convince the taxpayers oil
the great good to result to the entire
county, including the city. from She Is
suance OF these bonds, and the building
of tho roads for which they will be Is
sued. but l am, nevertheless, going 70
appoint meetings al various points in the
county. and am going to request che pres
ence Of those interested for the purpose
Of discussing and hearing discussed good
roads generally. and this boad issue in
particular.
Although the proposition has been set
out in the public print I would be glad II
you would permit me TO restate II, De-
cause an impression has GOT abroad tAdt /
to vote the bonds will Increase me coua-
~ tax, ana that there will be a waste OF !
money by way of interest paid uron ths
unspent portion OF the money resulting
from the sale OF the bonds
The proposition is a very simple one
and is briefly this In addition 70 the 10
cent road and bridge tax author zed pS
law the taxpayers OF Harris county aye
paying a special road and bridge tax o.
the same amount; this special tax was
authorized by public vote SIX years as
and has been collected ever sin mai
time, and expended for permanent roads
The result Of this election If favorable 10
the bond issue, VIII not increase the taA
rate but VIII simply change the me hrd
OF expendiug the money derived from "a >
special tax In other words, II vii! loiN
the tax, and procure for Us 95uO'tvO worm
OF permanent roads noT, 10 be pau I0r
out OF the special tax as collected Ihs
income from this spcctl TAX IS approx
mately $4s, 800. The interest on the bon
VIII amount to SIS 900 the sinking fund
to 1000, making draft on this iund oil
$50 900 and leaving surplus ihertih
Of SIS, 500, which We estimate vii be ample
to keep the roads IN repair when built.
The speed sax collected would easily care
for $500 900 worth Of bonds, but would
leave no surplus for the repair Of THESE
roads. These figures are basel upon IN ,
taxable values OF today and II is at least
safe TO conclude that there will be 70
shriniage in values, but more likely an in
crease,
with 100 miles OF road added TO the
tonty-three miles now completed here Ni'l
be 1913 miles of road which Will be cared
for by the special fund voted for that PUT
pose and there Will theR be $4,000, al
present values, in the road and bridge
fund proper to be used on roads, drain ~
and bridges outside Of the l43 miles be
fore mentioned While the building o
these added roads will be Of incaleulabll
beneht to both the city and county scarce
" less an accruing good will result iron
the fact that with l43 miles OF road takel
care o. through the medium OF dedicate
fund a very large amount OF money Il
the road and bridge fund proper can b
used for drainage purposes.
II am glad you asked me as 10 the ad
visibility OF an issue OF bonds In q
amount as large as that proposed
ITO a novice, in internal Improvement
OF this character, this amount seems lars'
but when we remember that Harris coun
ty has far less than 100000 OF debt, SON
OF which could be paid now had the optic
expired with the assessed value OF tn
property In ahe county, approximate.
S33, 900 GOO; with a tax rate OF 60 cen
on the 500 valuation for county purpose
Us against 81 on the $500 valuation
Bexar and many other eountles) IN
amount Is a mere bagatelle
Another reason why ! think Il w
policy to ask for permission TO issue tn
amount of bonds Is the fact that each ge.
eral election throughout the county cos
the taxpayers $1,000, and If an election WI
held during three successive years to d.
eide upon a 100000 bond issue each tim
$500 would be absolutely wasted in 4
issuance of the 5000 900 in three batche
~. I. ..tt -,
while 1t might induce their issue al
their deposit in safety vault, would n
compel their sale, nor cost the loss OF
cent In interest for money not actual
invested in roads. ! take II that d
commissioners court after fndiAg o
where they can sell their bonds in who
or In part. at par or premium, will a
vertise for bids in the metropolitan r.
pers of the country for the constructs
OF certain number OF miles OF pe
manent road, and If the contracts a
awarded, and after the work is complete
will dispose OF a sufficient number
bonds to pay for the completed work, 6
ter first having clipped and cancelled I
matured interest coupons, and that eve
six months, as long as any part of I
bonds are on hand and unexpended, II
they VIII clip and noel the matured
terest coupons. II this plan is pursued
interest will be paid on idle money
THE contention OF certain parties II
TO issue these bonds would hamper
ture commissioners courts emanafes fr,
parties who are either very ignorant
the facts or very clreess as to tn
conclusions, because the fund which v
take care OF the bonds pay the inter
and the sinking fund on them, and prov
for the repair OF the roads when co
pleted. Is a dedicated fund which can
be used for any other purpose than D
n1anent improvements, and the prone
tion TO bond the fund simply Inaugural
different method OF its expendltu
Heretofore dhe fund has been spent
detached pieces OF road not even c
nected with the paved streets Of Hous
and comparatively but little good can
suit. Under the method new propo
I'VE double track roads can be compile
20 the county line, each OF which
pour into the lap OF commercial Hous
thousands of dollars worth OF farm ]
ducts annually, and while each OF II
roads will vastly benefit the communl
through which they pass and to which /
extend, all and each Of them Will adj
the wealth. population and CONNER
greatness Of Houston.
"A