The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-08-02

III sumter county votes the S2O6,
10000 bond issue for good roads, it
will be necessary to levy a tax of
2 1-3 mills extra for 20 years to
meet this obligation. The taxable
property OF the county is $500, 900
and the law requires that whenever
debt is incurred steps must be imme-
diately taken towards wiping 1t out;
therefore the 1-3 mill tax will be
necessary to pay the interest on the
100000 bond issue, and create a
sufficient sum at the expiration Of
20 years To take up these bonds.
Interest alone on 100000 at per
cent will take $4,000 per annum,
and it will take seven thousand five
hundred dollars every year bearing
interest for 20 years to create a sum
OF 100000 to take up those bonds
when due. 1-3 mill levy will only
amount to $17.500. hence it would
require this levy for 20 years to care
for this bond issue.
Now. 1 propose that we issue no
bonds save what the legislature has
already issued-s5o,o ,o0y-but that We
levy the tax of 2 1-2 mills and apply
this with our Regular income to i'm
prove our public highways. In this
case we would have an income as
follows:
Regular County Inco,Ie.. $4,000
From the fifty thousand dol
lars bond issue already passed
by the legislature. ... :. :. 10000
1-3 mill levy :. :. .. :. ..17,500
A total of s41,5O0
and only a $4,000 bond issue to
care for. At the end Of years in
this case. We will have expended for
the Improvement Of our roads the
sum Of s207.500. Whereas. IL we
vote the bond issue as proposed, the
county will have for the improve
ment Of her roads the following sum
for five years only:
Regular County Income -. $4,000
From 100000 bond issue :. 10000
A total Of $4,000
The 1-s extra mill levy will not be
available for road purposes for 1t
will require this sum for 20 years to
simply take care Of the 100000 bond
issue.
Now the difference in having S54,-
600 per year and s41,5OO per year is
only s12,5oo and mind you this diff
ference would only be for years.
when the county will have used up
IT'S bond Issue. and then have only
- rcrrisr income $4,000 for fur
thcring ouf 0ur road improvements.
Remember. please, he l-2 mill
levy IS stnl or us ana viii be Tor 20
years. aU goirp toward. car,Dr COR
the bond issue.
The whole thing is this: Will it
pay to issue this bond creating a 20
ye'r debt on the county of s17.5OO
par annum simply to get s12.520 ex-
ira for the next five years.
Now. after carefully considering this
subject, both pro and con. am Of
the opinion that n matter so vitally
important as levying an extra tax,
should come before the people by
vote according to township, and
Furthermore, I do not believe the
time is ripe just now to impose this
extra levy. unless. Of course, this be
submitted to vote and carried ac-
cording to township.
1t seems to me that II an annual
income Of $4,000. together with the
$4,000 per annum coming from the
10000 bond issue already passed by
the Legislature. making a grand to-
tai OF $4,000 per annum. be judi
ciously spent, our roads would be
improved about as much as we can
very we'll a..ord. Inder the present
labcr conditions.
As matter of fact, Ii would re
Quire a sum close on to $1.o0J,OG0 10
mGkC all the roads in Sumter cour-
ty really god. and If the present
bond issue should be carried. it will
by no means indicate that We will
have good roads. except possibly in
some few localities.
Yours very truly,
w. b. Boyle.