The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-02-01
How The Goods Roads Bond
Issue Can Be Financed

amounting to $105,000, there will |
be an available balance of s1O6,4O5 |
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
$32,23s,319, yielding without in
creased millage $257,914.55. 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
!
and even during construction, is not
easy to compute but results from ad-
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 100000 come due Ave
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--$11,422.00.
1911 37,O35.00.
1915 6S,2S3.00.
1919-1O6,405.00
192O-152,914.OO or total Of
$376,O59.OO 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 s92,914.
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 a 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-
s.ructive items are approximately
, correct.
, Only the pessimist will object to
: the very conservative estimate with
, regard to increased valuation and
! it should be we'll understood that
r this increased assessment will not
r come so much from the increase in
: value of property now carrying a
reasonable valuation as from lands
: now assessed at only few dollars
{ per acre which lack of roads are not
: now desirable for agricultural and
4 development purposes.
e The taxpayer should remember
8 that his willingness to pay the
Q taxes. on which the above figures
: are based, is not asked. He is pay
: ing mills road tax now. He will
r continue to pay that and more with
2 out bond issue and while waiting
: until he comes to die for the good
8 roads he desires to use now. The
J., 8 mill tax he is now paying, as
I shown by the foregoing figures,
s with only very reasonable and
e conservative dependence on the fu-
ture, as shown by the past, will take
e care of the bond issue and all the
e other necessary obligations. Then
: what is the object of waiting?-
: Published by direction of the Polk
J, Good Roads Association.