The Punta Gorda herald. [volume] (Punta Gorda, Fla.) 1893-1958, 1914-01-29
BONDING PROPOSITION
Situation in the Charlotte Harbor
District Soon 10 be Voted on

Facts and figures relative to the bond
ing proposition for roads and bridges 70
the Charlotte Harbor district The a
mount of the bonds to be issued $50. 900
bearing interest at the rate Of per cent
per annum and to be retired in perioc
of twenty-five years.
The present assessed valuation of pro.
perty in the district to be bonded ac.
cordlng to the Collectors certificate is
$404,510.00. The highest rate assessablt
under the law is 90 mills or 02 cents or
the dollar. If this rate should be levied
on the values as they now stand the tax
es collected for the purpose of this issue
would amount to $SO9O.2O per annum.
The amount of the annual interest to be
paid on the bond issue at the rate of 6
per cent is $500. Deeucting this
amount from So, 09020 there Is remaining
S4'4sO2O to go into sinking fund for the
retirement Of the bond issue.
AS the interest on the bond fund must
be paid for the full time specified by the
issue this sinking fund may be loaned
TO reliable banking institutions for not
Hess than per cent and probably for
per 8ert, and in this way the interest on
the amount OF the sinking fund created
VIII offset an equivalent amount ON the
total bond issue.
If the sinking fund created annnat,v
is not loaned it will take 10 a wars a.
create fund equal to the amount of the
pono issue and to keep the interest paid
on the total bond issue up to that time
out II the sinking fund Is loaned each
year as fast as it is eFeatea the total
Eana 2gsae can be created before the "a
1-s year period.
@. g. The interest en- the first year
Sinking fund created would be $4.49O.2O,
which at per cent would be s224.51, and
this amount added to the amount of the
first sinking fund would make $4,714.71.
This amount added to the sinking fund
for the second year would make the
sink ing fund at the end of the End year
50, 204.91. Add to this amount the a.
mount of the interest at s per cent,
$46O.25 and you have $9,665.16, which add
ed to $4,000 makes s14155.36. the a.
mount of the sinking fund at the end of
the Ord year per cent on this amount
s7077S, which added to the principal
would make s14,S63.13 and this amount
added to the third year fund would make
the sinking fund $19.35s.S3 at the end of
the 4th year. s per cent on this amount
$967.67 would make the total $20.321,
which added to $4,000 would make
$24S11.2O the amount Of the sinking fund
at the end of the 9th year. 5 per cent on
this amount $1,24056 makes q total of
$2G,051.76 which added to $4,499.20 makes
$30,541. SO the amount Of the sinking fund
at the end of the 9th year. per cent on
this amount S1,52710 makes a total Of
So, 069.O6 which added to $4,000 makes
$e6.559.26 the amount Of the sinking
fund at the end of the 18th year, 5 per
per cent on this amount $1.s27.96 added
to the principal makes sSS,3S722 which
added to $4,490.20 makes S42.S77.42 the
amount CT the sinking fund at the end Of
the Sth year per cent of this amount
s2,143.S7 added to the principal makes q
total Of ss5,021.29 which added to s4.49O-
20 makes s49.511.49 the amount CT the
sinking fund at the end Of the 9th year.
s per cent Of this amount s2.4.557 added
to the principal makes s51.9S706 which
added to $4,000 makes $50, &c the
amount of the sinking fund at the end Of
the 10th year 5 per cent of this amount
$2,S23.86 added to the principal makes