The daily star-mirror. (Moscow, Idaho) 1911-1939, 1912-05-27
COST OF PAVING STREET INTERSECTIONS
10 Moscow Taxpayers

II o Moscow Taxpayers
The present assessed valuation O.
Moscow is $1,785,148 The proposed bono
issue to cover cost of paving street inter
4 sections is $4,000 The balance of the
paving will be paid for by the owner:
Of abutting property, graduated according
to distance. The interest on the $5O,lUt
at S per cent. is 81 500 per year. By divid-
Ibis 81, 500 by $1,785,148 the result is
found to be eighty four hundredths OF
Yhlill, which is the rate of taxation neces-
,ary to raise the 81 500 interest annual
~. The $4,000 principal is raised by
the sale of bonds, drawing only per
cent interest, due in twenty years, with
the option of paying at any time after
ten years.
The law provides that sinking fund
to take I'D one-tenth of these bonds must
81 levied each year, after the expiration
bf ten years. Under this arrangement, ali
lllat is necessary to be met each year is
HE five per cent interest on $30,0OO or
ii 500 above named After the ten year
reriod, the levy must be large enough
pay off tenth of the bonds each
Far, and the interest OH the remainder
Outstanding, until the entire amount IS
gradually paid. For the first ten years
the interest charge will be $l,5OO each
year, after that time the interest charge
asNl decrease $3.50 each year as the bonds
fc gradually retired This $l,5O0 an
hal interest charge IS about equal to
me fortieth part of the expense OF run
ing the city of Moscow one year.
The present assessed valuation
the city is used as a basis
br figuring what proportion Of this
,,,tar chqrOa would rest
gainst each piece OF property, as it is
nv material that each person should
Know what amount they will be required
10 pay. The basis of valuation OF prop
erty may change from year to year and
probably will but the relative value OF
iny persons property to the whole value
,f the city will not change materially,
Ehether property be assessed at lOO per
ent or 30 per cent of its valuation, and
se amount each person VIII nave 10
ay as given in the list below will not
hange except as it may be reduced by
ae growth of the city.
The construction of new buildings.
extension of city limits to accommodate
natural growth expected, installing OF
new industries, and the many things in
cident to city development, will increase
the total valuation and this will greatly
lessen the charge against each piece OF
property.
4 About twelve years ago when Boise:
|began paving, they had population. OF
about 5000, and the bond issue looked
large to some of the opponents, but now,
when they are paying off the principal OF
the bonds with a population of about
$4,000 and a property valuation OF eight
or ten times as great, the payments now
OH the principal, are much less than the
original interest payments. Paving was
very material factor in starting bosses
growth and will benefit Moscow IN the
same way.
The following list shows what each
property owner or tax payer Will have TO
pay in order to raise the 81 500 interest
each year, for ten years, and after that
time. sufficient in additional to retire
the principal Indebtedness OF S5uUn.
Any growth which Moscow makes our
ing the twenty year period VIII lessen
these figures accordingly
The figures in the first cOiumn give
the Annual Interest Charge.
The figures in the second column
give Annual Principal Charge After
10 years-if the town don't grow. AS
grows the amount will De re-