The St. Lucie County tribune. (Fort Pierce, St. Lucie County, Fla.) 1905-1920, 1909-11-26
fAVORS ISSUE
! ROAD BONDS
n 2 Hardee Demonstrates That
D p,ssent Tax is Ample for Bonds
NO INCREASE IN TAXES
..,A,hIe That Should Bond Issue be De-
,,,ed People will Demand an Addi-
aooal Tax for Road Improvement
Jensen, Fla, Nov. %, 1909.

| Jensen, Fla, Nov. %, 1909.
:. ,he Voters of St Lucie County,
'S TSo ouestion of bonding seems to
.., ,~' TO some peoples mind the idea,
~ thew are creating a debt on, or
.s.nst their property which from their
sssness point of view, should be avoid
\ / most heartily approve of such
,.uton as it relates to an Individual
s"rtgaping his home, and l wish that
.ss,y man in St. Lucie county had his
MI: MI home free from the eight and ten
!, eent mortgage that eats into his in
ssns and makes life a burden. But
ov often do we find these same people
ss,;,sting to vote bonds for fear they
IN Immediately involve themselves in
An and bankrupt the county. This,
hmm nv point of view. is because they
I've not gone thoroughly into the
.,tter and realized the full benefits
a the economy of securing roads by
M method. Now lets figure little
ruuOse the county is bonded for two
iundred thousand dollars, and eight
bls levied against the property in the
punty to create sinking fund to pay
NJ interest thereon and retire the
Oods at maturity. This would mean
assessment of only eighty cents on
he hundred dollars; 40 a man owning
operty valued at $4,000 would only
i've to pay eighty cents per years.
his a burden to contribute for the
iyilege of having hard-surface roads
h,ougLout st. Lucie county, think
NJ. Now let's get down to facts and
kires, and see if a levy of eight mills
Ill cover the two hundred thousand
bud issue and take care of them at
baturty. | do not think there are
Sany who doubt but what the amount
sufficient to provide the roads pro-
bed, go will not take up time in
sussing that point.
The law provides that the bonds
hl become due and redeemed as fol-
Ns: Ten per cent, or 500, 900, to be-
me due in ten years; fifteen per cent,
1900, to become due in fifteen
Ars; twenty per cent, or $40, 900, to
come due in twenty years; twenty
per cent, or ssh, 900, to become due
twenty-five years; thirty per cent,
$4,000, to become due in thirty
An; total, 5000, 900.
these bonds bear interest at the rate
i've per cent per annum and would
quire a levy of five mills to produce
heient revenue to pay the interest:
the first ten years; this would mean
assessment of only one half of a cent
the dollar to supply the interest
~. Now that the interest is pro-
~ for, let's take the remaining
re mills of the eight that we are
paying, and see what we can do
MT in the way of creating a sinking,
Mh retire the 100000 Of bonds.
wee mills on our county valuation OF
1omlllion dollars would bring in an
Wy, the sum of Sc, 100. In ten years
a the first ten per cent, or $40, 900
@' there would be on hand from
tnree mills, the sum of $50. 600
gh to meet the $50, 900 first due,
rave $4,000 to apply to future
Mlext payment of fifteen per cent
1000, would come five years later,
the three mills levy would produce
rSg the five years, the sum of $780,
*nlth would be exactly enough to
sup the $50. 900 due at that time,
!lne the $40, 600 of the first ten years
aunent to apply on future pay
Of redemption. The third pay
OF 10000, five wears later comes
and the same three mill levy
IN $4,000, which added to the
~ 49, still on hand, provides US with
~ from which we deduct the
payment of $40, 900, leaving us
x'tn balance of $50, 200. The
y payment of $50, 900 comes five
ater, and the three mill levy
Y. Us the $4,000, which added to
W.NO still on hand, brings our
ee Up to $4,000, from which we
Tue fourth payment of $50, 600,
balance Of $4,000. The fifth
= payment of, $50, 900 five years
comes, when we have on hand
&c mill assessment for FIVE years,
e 900 left over. making a
" ~, OOO-thus leaving an ap-
= cshcit Of $50, 900 at the expira-
~ y tne final payment. Now some
"a ~ Immediately jump up and say
you so," but just hold on bit,
90 some more figuring and
~ especially thinking, for as
zen above. have made this
on. based on u continued pay
~ the 5 mills for interest on the
soent for thirty years, when as q
-. =! TACT after each payment Of
nelpal, the amount is reduced
nve mills set aside for interest,
10 excess of the amount nec-
49, s'ter the first payment, the sum
~ year, or S., 900 for years,
sae second payment, the interest
L. h. ~