The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-02-03
How The GoOdSsROadS Bond
Issue. Gamble Financed

amounting to s105,000, there will
be an available balance of s106,405
for work on lateral roads and bridges
not included in the bonded system.
At the same ratio of increase, the
assessed valuation for 1919 will be
$32,239,319, yielding without in
creased miliage s257,914.55. De-
Quoting the same charges as before,
amounting to 100000 there will
be an available balance of $152,914
for work on lateral roads and
bridges not included in the bonded
system.
These figures, remember, do not
include any increase in the assessed
valuation in the county by reason
of the building of 211 miles of hard
surfaced roads, but only the same
ratio of increase which has accrued
with our present roads. What the
increase will be after the proposed
system of roads shall have been built
and even during construction, is not
easy to compute but results from adj
joining counties have shown in
general way that this increase has
been tremendous.
Before closing this article how
ever,it is necessary, of course, to
say something about the refunding
of the bonds, for which in the fore
going figures no provision has been
made 1t is believed, as has been
said already, that the commission
ers favor the plan of making the
first bond of 10000 come due five
years after date and to take up $780,
900 every succeeding year until
twenty such payments have been
made thus reducing the entire bond
issue in twenty-five years from date.
This plan will enable the COM
missioners to have the use of the
following amounts, which is the bal
ance of the road tax each year, after
allowing for refund to incorporated
towns and maintenance Of con-
victs:
| 1916--$11 ,422.O0.
1917 37,O35.OO.
1915 6S,2S3.00.
1919-106,405.0 90.
192O-l52,914.OO or total of
$376.059.00 which, If properly en-
pended, ought to put in good shape
every lateral road in the county.
In 1921. not counting any increase
whatever in assessed value and with
the same income as the previous
year, viz. $257,914.55, there will
have to be provided an extra eXpen-
diture of 100000 for sinking fund.
This will make the total expenui-
lures 100000 and the available
balance $92,914.
This, it is believed that it will
easily be seen that the bond issue
can easily be financed even without
the increase of a single mill OF
taxes over that now assessed and
that the lateral roads can also be
tken care of much easier than with
out bond issue, because 211 miles
of roads, needing expensive and con-
slant repair, will be out of the way
for several years to come.
Absolute accuracy Is not claimed
for the foregoing figures, but as
their basis has been obtained from
an authoritative source, the con-
structive items are approximately
correct.
Only the pessimist will object to
the very conservative estimate with
regard to increased valuation and
it should be well understood that
come SO much from the increase in
value of property now carrying a
reasonable valuation as from lands
now assessed at only a few dollars
per acre which lack of roads are not
now desirable for agricultural and
development purposes.
The taxpayer should remember
that his willingness to pay the
taxes, on which the above figures
are based. is not asked. He is pay
ing mills road tax now. He will
continue to pay that and more with
| ont a hond iesire and while waiting
until he comes to die for the good
roads he desires to use now. The
8 mill tax he is now paying, as
shown by the foregoing figures,
with only very reasonable and
conservative dependence on the flu
ture, as shown by the past, will take
care of the bond issue and all the
other necessary obligations. Then
what is the object of waiting?-
Published by direction of the Polk