The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1915-11-23
BEST To BOND
MARION COUNTY WILL GAIN BY
ADOPTING UP-TO-DATE BUS
MESS METHODS

I NO6AASJ
financial basis.
The county is considerably in deb
and practically bankrupt Not that i
is insolvent, for it has plenty of prop
erty and resources, but they are no
in shape to enable it to meet it's obli
cations.
Up to last February, the count,
was in debt almost $4,000, since
which time the sum has increased tC
about $4,000.
This Indebtedness is not the result
of either extravaganza or dishonesty
The Star has been quite close to the
board of commissioners ever since il
was paper, and it is certain thai
our county affairs have been managed
honestly and capably. The commits
sioners have, of course, made mis-.
takes, and there have been some in.
stances of petty graft among minor
officials, but when everything is con.
sidered it is doubtful if the public af.
fairs of any county in the state have
had a more honorable and careful q
management than those of Marion.
The trouble has been caused mainly
by the anxiety of the county com.
missioners to stick as closely as posi-.
BILE to the pay-as-you-g plan. They
have tried to keep the millage down
0r xxyIaa oh L
rowed small sums to make both ends
meet. Marion, like all other counties
in the state, has for the last fifteen
years been making improvements
which were inperatively needed. But
the 'pay-as-you- go" plan has, on the
one hand, caused the improvements to
be made in rather patchwork man
ner and on the other hand has increas.
ed the county debt.
The county is now in the condition
of man who has plenty of property
good business and some debts, but
his business is not enough to both
allow him to pay expenses and pay
his debts. Under these circumstances
the individuals course is clear. He
must borrow money to meet his obi,
cations, and this, if he has substan.
tial property, it is easy for him to do
He can take the borrowed money anc
pay his debts, and by paying Interest
renew his notes until he can catch uI
with his debts. If he doesn't take this
up-to-date way of settling his diff
culties, his property may be attached
and sold for debt of one-tenth of its
value.
So the business-like way for Mar.
ion county to put it's affairs on a firm
basis is to issue bonds, meet it's obi
cations and pay interest on the money
until it is repaid. This course, i
properly carried out, will not only
save trouble but should reduce taxes
It's the Stars opinion that if the
county issues bonds, it should bono
for improvements as well as to pay it,
debts. A bond issue to build couple
of hundred miles of good roads in thi:
county would put it in line with the
other progressive counties of the
state, and would make things better
for all the people.
The property valuation of Marion
county is about s7,000,000. It can, i.
its county government remains a.
honest and capable as it has been fol
the last score of years, bond fol
enough to meet its present obliga
tions, at least half a million for roads
and not know it is carrying the load
It's the only modern and practica
way to do.
Following is the letter from tn,
Commercial Bank to the commission
ers:
Board of County Commissioners, Ma
rion County, Fla:
Gentlemen-With reference to ou
bid of date September 9, 1915, for no
| less than $4,000 nor more than $110
i VOOs AhSOlCo bCcl 1hS COupOnS
| warrants of Marion county, we be;
to say that we have just received tn,
opinion of Messrs. Dillon, Thomson
& Clay of New York in regard t,
these warrants, and we regret to sa,
that the opinion is adverse to tn
validity of the warrants. However
as our bid is made conditional upol
their approval, and we have all cor
fidence in their ability, we, of course
will abide by their opinion in sue
matters.
For your information we quot
from their letter, which is dated Nc
vember II, in relation to this matter
as follows:
"The special act (chapter 705S @
| 1915), authorizing the reissue c
said warrants, provides that the re
issued warrants may be made pays
Bile at fixed dates, to be determine
by the board of county commission
ers 1t provides for the payment c
interest thereon semi-annually at
rate of not exceeding six per centur
per annum. The act further provide