The St. Lucie County tribune. (Fort Pierce, St. Lucie County, Fla.) 1905-1920, 1905-09-08
PROPOSED BOND ISSUE.

On our first page will be found a call
from Mayor K. +. Gadwin for mass
meeting of the citizens and tax payers
OF the town of Fort Pierce to meet AZ
the Fort Pierce High school building
next Tuesday evening az I O'Clock, for
the purpose of discussing the question
OF bonding the town for the sum Of
81 500 to provide site for the county
buildings
1t is hoped that our citizens will re
spond to this call, and come prepared
to have a thorough understanding Of
the question as it is Of much impor.
lance to the future welfare Of the
town and the issue should not be- de-
feated through any misunderstanding
Of the true intent, purposes and results
of the issuance Of the bonds,
That Fort Pierce should provide a
site for the county buildings no Ole has
yet denied; the site selected by the
county commissioners has met with the
approval of our people; and the amount
asked for the lot selected has been most
reasonable. The only question that has
not met with complete unanimity is as
to how the money shall be raised TO pay
for the lot.
THE TRIBUNE believes that if the
whole matter is thoroughly discussed at
this meeting and the plan to issue and
redeem the bonds placed before the
people in the true light, that all oppos-
ition will be withdrawn.
1t is the intention of the council, if
the election results in favor Of the
bonds, to call for bids for the issue at
not more than per cent, and possibly
they could be disposed Of at per cent,
They would be issued in three coupon
bonds of $500 each, one redeemable
each year for the next three years
The taxable valuation Of the town for
this year is more than 100000, which
is ample to pay the interest on the en-
tire issue and redeem one of the bonds
each year, with only FIVE mill tax
The town is rapidly increasing in taxa
BILE value, and it is reasonable to sup
pose that with the increase that by
next year l.2 mills would be all that
would be required to redeem the second
bond and pay the interest, and the third
year it might be reduced to IL mills;
but even at s mills it would not be a
burden upon the tax payer,
The other method Of raising the re-
quired 81 500 is by direct subscription
This would not be just division of the
expense, as all nonresident tax payers
and corporate interests would thus be
given chance to escape, and they
would be equally benefited by the To-
cation of the court house in our town.
These interests represent fully one half
Of the taxable valuation. In bonding
to raise this amount, the burden does
not fall only upon the owners of the
town property now in possession, but
also upon those who may own property
here during the next three years, who
would be equally benefited.
Another feature that should win sup
port for the movement is the intention
Of the town council to incorporate in
the deed to the county the provision
that the lot shall be the perpetual site
for the county building and the failure
of the county to use the site thus gran
ted the same will revert to the town of
Fort Pierce, or the amount that it has
cost the town to provide it. Our tax
payers will thus be protected from hav-
ing the object of the gift defeated.
We hope that our citizens will attend
this meeting in body, and that it will
result in our people coming together,
and all pulling TO" the best interests of
the town by casting a unanimous vote
for the bond issue.