Mexico weekly ledger., 1911-11-02

pOnds. ana II issued, they may
issued in such amounts and at sue
+ times as viii suit the payment TO
the work in s'eeiess. But at tn
time any block Of tfrds is issued
the commissioners must provide 70
the levy and collection OF direc
annual tax for the payment of tb.
: principal and interest OF the bonds S
Issued
Assuming the total bond issue {,
be 100000, and assuming that tht
payment for them shall be arranged
for fifteen annual payments, tha
would require payment of ths
principal of se.666O0 each year ant
the first year the interest would be
100000. But thereafter, as the
principal is discharged annually, the
annual interest would be reduced.
And the year of the largest payment
there would not be quite $1S,000.O0 t.
pay. My information is that the as
sessed valuation of the district is
practically $4,000, 10000. and a levy
of thirty-five cents on the hun.
dred dollars would amply take care
OF the largest payment and after that
II would be reduced annually until
the entire debt would be- discharged.
This will allow all of the money
from the sale Of bonds and all of
the annual revenue to be devoted to
the Improvement of the roads with
cut applying cry part OF the latter
to the reduction of the debt or the
payment OF interest.
According to statement from
the State Highway Engineer, perma-
nent macadam roads may be built at
something like 100000 per mile.
The city Of Mexico is a mile and
half sCuaie. so that mile
and half is to be deducted from
the distance across the district; and
that will leave six miles and half
to be ma.adi mized IL any direction
clear across the district. Putting the
money raised by the sale of bonds
with the annual revenue in the
course of four years we will have
something like from $i3O,OOO.OO to
$14O, 100000 to spend. on permanent
roads That amount of money
will build from thirty to thirty-five
miles of road 1t will build from the
corporate limits of Mexico to the
outside limits of the district ten
different roads. That would be road
in excess of those required, but
the commissioners are not limited in
their expenditures to the building Of
roads within the district. While |
they cannot go outside of the dis
trict to build macadam, they can en-
ter into contracts with people along
the line of the roads extending out
of the district by which the com
missioners may do the grading pro-
vided the others will do the macad- |
amizing; and it is not unreasonable |
to suppose that within short time |
propositions will be received to ex-
tend macadamized roads beyond the |
line of the district by joint enter
prises of this kind. ADd in that
sort of way Mexico can get rock |
roads direct to the remote parts of |
the county.
Another method of raising rev.
enue for rock roads Is for the far
mers along the line of any road pro-
posed to be macadamized to raise |
a certain amount of money to aid in |
the work. In fact, the Board has
one proposition of that kind before
1t now
1t is also provided by the State /
Road Law that the County Court, un-
der certain conditions, may assist in
the matchmaking of roads outside Of
a district where citizens shall sub
scribe considerable part of the
fund. The legislature of 1909 also
provided General State Road Fund,
having revenue coming into 1t from
various sources. This fund is to be
devoted to the graveling and rocking
of roads
But before this special road dis
trict cen der We aqs4E ing from that
fund, 1t must build rock road; and it
may receive one half of
the cost Of construction of
such road from this state Fund, pro
vided the fund has sufficient reven-
ue to devote that amount to it.
The annual income at the present
time to the General State Road
Fund from automobiles alone is
about quarter of million dollars.
so there is another source of reven-
ue to the district, provided we build
rock roads.
Without the bond issue, the an
nual revenue will no more than al
low US to keep the roads in condi-
ton, and as soon as wet weather
and writer weather come along, the
roads are impossible as heretofore
Mexico is to be kept abreast of its
neighboring cities and shall be ex-
pected to compete with them inI
trade and opportunities there is no
other solution to the proposition thanI
the issue of bonds in order to build |
roads that are passable the whole
year round.
The question has been raised that
supposing the district be dissolved at
the end of four years. what then?
The legislature anticipated that road
commissioners might fail OF their
duty and it might be desirable tol
dissolve the district in some cases,
and provided that when the bond
issue is made, a levy shall be made
for the payment of the debt and in
terest created by bonding, against
the property of the district; and the
dissolution of the district could have
no effect upon it. The property
therein would remain liable by taxa
ton, Just the same. BY dissolution,
corporation can no more erase its
obligations than can an individual by
dying. The obligations remain
against the estate.
| voted to submit the proposition