The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1916-10-26
Mile Laos County's Golden Opportunity to Sc.
cure a Splendid System of Hard >.
Surfaced Highways. ~ - -. -
Thinking Intelligent Voters Will Express Their
Approval at the Polls on the
9TH of November
roads of the county.

roads of the county.
There is nothing secret or under
handed about the proposition. Every
thing is open and above board. There
is nothing to conceal or hold back.
! At the outset let US make it plain
, that bond issue of $4,000 does not
necessarily mean any increase in the
tax rate. We unhesitatingly assert
THERE WILL BE NO INCREASE
IN THE TAX RATE. "Preposterous!"
exclaim the doubling Thomases. Let
US see.
! If the bonds are voted and loan is
obtained from the state the rate Of
! interest would be four per cent. Four
per cent on $4,000 would amount to
$4,000 annually. If the bonds are sold
to private parties the rate of interest
would probably be AZ per cent-al-
| ready a broker has offered to purchase
them at AZ At AZ percent the an
nual interest would amount to $3,325.
For several years past the county
commissioners have levied annually
the maximum county road and bridge
tax-three mills Now in order to
meet the interest on the bonds, and we
will take the higher rate, under the
present valuation it would require a
ga mill tax-for convenience sake we
deal in round numbers. The valuation
of the county this year will be 81 $780,
900; a "a Of one mill tax on that
amount would produce $3,375. The
county commissioners could and un-
doubtedly would reduce the county
levy from three mills to two mills.
The one mill reduction in the county
road and bridge tax would permit the
levying of one mill tax to meet the
interest on the bonds without increas-
ing the aggregate tax levy for road
and bridge purposes. And, as we have
shown, one mill tax would produce
more than sufficient to meet the inter-
est.
None of the principal would become
due before five years. By that time
the valuation of the county would have
increased so that a one-mill tax each
year would care for the interest and
provide a respectable sinking fund to
meet the principal. With proper man.
agement it would never be necessary
to levy more than a one mill tax to
meet the interest and principal.
| eyes," the doubling Thomases will
again excIaim, "but what assurances
have we that the county commission
ers will reduce the tax levy from three
to two mills %
Assuming that the commissioners
will exercise common business sense
there is every reason to believe that
they will reduce the levy from three
to two mills, and they can we'll afford
to do so, and not jeopardize the road
interests Of the county, and for this
reason: If the program for road i'm
provment as mapped out goes through
all the important main highways
where four-fifths of the county and
state road and bridge funds have here
tofore been expended, will be perma-
nently improved, and the same can be
properly maintained at small. ex-
tpense, hence county road tax Of two
mills or less will meet all require,
ments, more especially as the allot,
ment from the state road and bridge
fund will grow larger yearly.
!. We reiterate that it will be neces
sary to increase the tax rate for coun
ty road and bridge purposes over wha1
| it is at present fraction of mil
to meet either the interest or principa
of the $4,000 bond issue.
i What is the proposition that call:
: for bond issue Of $75,00O? Here i
: is in a nutshell. Federal aid to thu
, extent of $4,000 is promised, provid
: ed like amount is raised by the coun
: ty for the improvement of that par