Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1902-08-28

million dollars if we take as basis
the valuation returned by the assessors
last year, and over forty-two million
dollars upon the basis of it's value as
equalized by the county board. To
give not the slightest room for the
charge Of exaggeration to be made
against me what further | have to say
in this connection will be upon the as
sumption that the assessed valuation
| of the county is this year thirty mil
lion dollars. For the purpose Of build
| ing the court house the county board
| has borrowed of the state $4,000 at
three and one-half per cent interest,
payable yearly in advance. This sum
to be repaid to the state in ten equal
yearly payments, the first payment to
be made in February, 1904. The annual
f! interest upon this loan amounts to
$500. In order to pay the first in
stallment of $4,000 and the $500 an
nual interest we will have to raise by
tax next year $1O,8OO The interest to
be paid will diminish after the first
payment at the rate of $3.50 year, so
that the largest payment we will have
to make will be the first. What rate
of taxation will be required to make
the first payment? Just SO one-hun-
dredths of mill. This means that all
that man assessed at thousand dol
lars would have to pay towards the
first payment of $1O,8OO would be Sc
cents, and towards the last payment of
$4,000, q cents. To have paid for a
court house costing $135, 1000, borrowed
at three and one-half per cent interest
and the money to be paid in ten pay
ments would require tax of 81 one
hundredths of mill to make the first
and largest payment. In other words
property assessed at one thousand
dollars would have had to pay 81 cents
tax. 1t is now too late to construct
the building just as at first designed,
but it is not too late to add to it some
of the most important parts the COM
mittee we're compelled for lack OF
funds to take from it. 1t is a part Of
the building contract that if the coun-
ty decides by the 1st of January next
that it shall be done the contractor
shall place, according to that plan, the
marble work within the building at a
cost of $4,000, a stone cornice in place
of the galvanized iron one at an addi-
tional cost of $500, and put on the
dome for $4,000. The $4,000 required
for these improvements added to the
present contract price would make
the building cost the county less than
100000. If, to furnish the court house
and vaults properly and make the
grounds and walks of the court house
square presentable and in keeping
with the building, it took enough more
money to make the entire expense to
the county $4,000, and that is GER
tainlv beyond what all would cost us,
what taxes would we haxe to pay? This
sum divided into ten payments would
give for each payment $11,5OO. The
annual interest at three and half
per cent on s115,OOOis S4,O25, so that
the first and largest of the annual pay
ments would be $15,525. To pay this
would require tax on thirty million
dollar assessment of 50 one hundredths
of mill, that is, property assessed at
a thousand dollars would pay tax of
50 cents. If the assessed valuation of
the county should be forty millions, as
it probably will be, then with these
improvements included the largest
court house tax we would have to pay
would be 80 cents on a thousand dol
lars. When the cost of these additions
less than Is cents tax for the first pay
ment on $1,000 is SO trif1ing to the
taxpayer should we not make them?
No man who has love for his county
will hesitate to answer, yes. The three
cardinal principles of architecture are
stability, utility and beauty. Let us
not sin against the last by withholding
the little needed to make this building
a delight to the eye, and one that will
impress all who gaze upon it with the
wealth, public spirit and good taste OF
the citizens of the County of Grant.
Let me speak word or Two to prevent
misjudgment. What I have said have
said solely upon my own motion from
personal conviction. No one knew
what I was going to say. No member
of the committee, no resident OF Lam
caster suggested thought that L have