The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-03-03
How The Good Roads Bond
Issue Can Be Financed

which the intelligent voter is asking
and which ought to be answered in
a thoroughly practicable and intel
ligent manner is how can the
county commissioners finance sue
cessfully the matter Of the proposed
bond issue for one million dollars
for road building in the county,"
Can it be shown In q clear and
concret. way that the obligation in
CURED by Polk county, If the bond
election should carry. can be met
fully and completely without handi-
capring the commissioners in the
matter of making necessary repairs
to roads and bridges outside the
limits Of the proposed system Of
roads, the maintenance of the con-
victs. etc., and without materially
increasing the taxes of the individ-
ual taxpayer"
These questions have been asked
before and answered in general
way. This article proposes to an
swer them again in detail showing
how everything can be properly
taken care of on the lines suggested
by the questions.
Let us take it for granted that a
bond issue for twelve hundred
thousand dollars will be necessary to
build the system of roads outlined
and that the election to be held in
April or May will be favorable. 1t
will, in all probability be Septem-
Der, at the earliest, before any pro-
ceeds would be available from the
sale of the bonds and no interest
would he called for prior to the fall
of 1917. 1t has been proposed by
some of the commissioners, If not
unanimous, that twenty-five year
bonds be issued and that the first
refunding payment be made on the
sixth year. That year for each sue
ceeding year it is proposed to retire
$4,000 worth of the bonds. Dur
ing the first five years, none of the
bonds will mature and only the in
terest will have to be paid, amount
ing to $4,000. The total income
from the road tax for the current
year g mills on valuation Of
$14,552,800) will amount to $116,-
42240. Approximately $4,000 of
this amount will be refunded to the
incorporated towns in the county to
take care of the street work within
the corporate limits. One Of the
commissioners has stated that 1t
costs $4,000 a year to take care Of
the convicts. these three items total
ing 100000. This will still leave
$11,422.00 available for work on
lateral roads and bridges not includ-
ed In the bonded system. These fig
ures, so far, relate only to the year
1917 based on the assessed valuation
for 1914. The figures, taken from
the books of the assessor, are as fol-
lows:
1910-$6,655,900.
19l1- 7,S66,4S0.
1872 9,361,45O.
1913-13,426,530.
1914-14,552,S00.
1t is not presumed that the most
conservative citizens of Polk county
will question the estimate that the
assessed value of the county will In
crease in much greater ratio this
and succeeding years, and especially
as and when the contemplated i'm
provement Is made, but taking only
the same ratio of increase quoted
above, (averaging % per cent per
annum) and the assessed value for
1916 will be $17,754.416, yielding
with the same millage, $142,035.32.
Deducting from this amount the in
terest Of 100000, maintenance of
convicts $4,000 and $4,000 re-
funded to incorporate towns. or a
total of 100000, there will be
available for work on lateral roads
and bridges not included In the
bonded system, balance of $751;
035.00. At the same ratio of in
crease, the assessed valuation for
1917 will be s21, 660,3s7. yielding
without an increased millage, $173,-
28S.09. Deducting the same charges
as above. amounting to 100000,
there will be an available balance of
s6S,2S3 for work on lateral roads
and bridges not included in the
bonded system.
At the same ratio Of increase, the
assessed valuation for 1918 will be
s26,425,672, yielding without in
creased millage s211,405.76. De-
Quoting the same charges, as before.