The daily star-mirror. (Moscow, Idaho) 1911-1939, 1912-05-13
COST OF PAVING STREET INTERSECTIONS
O MOSCOW Taxpayers :

To Moscow Taxpayers:
The present assessed valuation OF
Moscow is ST ,7S5, l4S The proposed bond
issue to cover cost of paving street inter
sections is $4,000 The balance of the
paving will be paid for by the owners
of AUDITING property, graduated according
to distance. The interest OH the $5O,uOO
at S per cent. is 81, 500 per year. By dlvid-
this $500 by $1,785, 148 the result is
found to be eighty-four hundredths OF
mill, which is the rate of taxation neces-
sarv to raise the l,5OO 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 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
thc five per cent interest on $3O,OCO or
81 500 above named. After the ten year
period the levy must be large enough
70 nav off one-tenth of the bonds each
wear. and the interest on the remainder
outstanding, until the entire amount. IS
gradually paid. For the first ten years
FL, interest charge will be $l,5OO each
wear. after that time the interest charge
will decrease $3.50 each year as the bonds
are gradually retired. This $l,oOo an
n;lal interest charge is about equal to
ore-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 nav. The basis of valuation of prop.
er,v NAV 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. materlaiiy,
whether property be assessed at llU per
cent or 90 per cent of its valuation, and
the amount each person will have to
pay as given in the list below VIII 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 Vi
property , p,;sa
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
25.OOO and a property valuation OF e1gn'
or ten times as great, the payments now
OF, the principal, are much less than the
original interest payments. Paving was
y ,'erv material factor in starting Bosses
growth and will benefit Moscow IN the
The following list shows what each
nroperty owner or tax payer VIII nave 10
nav in order to raise the 81 ,5OO interest
Zach eac wear. for ten years, and after that
time, sufficient in additional to 90, re nn0
the principal Indebtedness OF $ou'uM-
Anv growth which Moscow, makes a.. cur
ing the twenty year period Will iessei'
these figures accordingly.
The figures in the first commn give
the Annual Interest Charge.
The figures in the second column
give Annual Principal Charge After
N vears-if the town don't grow. AS
Moscow grows the amount will be re-