The daily star-mirror. (Moscow, Idaho) 1911-1939, 1912-05-17
COST OF PAVING STREET INTERSECTIONS
To Moscow Taxpayers:
The present assessed valuation OF

The present assessed valuation o
Moscow is 81 785, 148. The proposed bono
issue to cover cost Of paving street inter
sections is $4,000. The balance Of thu
paving will be paid for by the owner.
of AUDITING property, graduated according
10 distance. The interest. on the $3O,oO(
at per cent is 81 500 per year. By divid
this $1,5OO by $1,785, 148 the result. i
found to be eighty-four hundredths of {
mill, which is the rate of taxation neces
sary to raise the 81 500 interest annual
ly The $4,000 principal is raised by
the sale of bonds, drawing only pei
cent interest, due in twenty years, will
the option of paying at any time after
ten years.
The law provides that sinking fund
to take up one-tenth of these bonds must
be levied each year, after the expiration
of ten years. Under this arrangement, ali
that is necessary to be met each year IS
the five per cent interest OH $3O,OCO or
81 500 above named. After the ten year
period, the levy must be large enough
to pay off one-tenth of the bonds each
year, and the interest on the remainder
outstanding, until the entire amount IS
gradually paid For the first ten wears
the interest charge will be $l,5OO each
year, after that time the interest charge
a c gradually retired. This $l,5OO an
nual interest charge is about equal to
ole-fortieth part of the expense of run
ming the city of Moscow one year.
The present assessed valuation
of the city is used as basis
for figuring what proportion OF this
bond and interest charge would rest
against each piece OF property, As It is
very material that each person should
. know what amount they will be required
to pay The basis of valuation of prop
erty may change from year to year and
probably will but the relative value OF
any persons property to the whole value
of the city will not change materially,
whether property be assessed at lOO per
cent or 40 per cent of its valuation, and
the amount each person will have to
pay as given in the list below will not
change except as it may be reduced by
the 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.
About twelve years ago when Boise
began paving, they had a 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
25,OOO and 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 $1,5OO interest
each year. for ten years, and after that
time, sufficient in additional to retire
the principal Indebtedness of $3o,Uo
Any growth which Moscow makes s.ur-
ing the twenty year period will lessen
these figures accordingly.
The figures in the first cOumn 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
Moscow grows the amount will be re-