Roanoke Rapids herald. [volume] (Roanoke Rapids, N.C.) 1914-192?, 1916-11-03
W. B. FITZHUGH
URGES BOND ISSUE
Explanation Of Proposed $4O,OOO.O0
Road Bonds for CASTOR Town.
ship Which will be Voted
on Next Tuesday.

At the two voting precincts In
CASTOR township, Northampton
county, on the day of the general
election, Tuesday, November Z,
the voters of the township will
pass upon the question of issuing
bonds for the purpose Of building
good roads in the township. The
proposition, which has already
received the approval of more
than one fourth of the qualified
voters of the township, is to
issue bonds to the amount of
$40, 100000.
These bonds will bear interest
at the rate of SO and will mature
one each year, for forty years.
Five per cent upon the $40, 900. 90
amounts to 100000 a year in
terest. Each year one bond in
the amount of $1,00O.00 will
mature, so that it will mean that
So, 00O. 90 must be applied by the
township each year towards the
payment on interest and princi-
pal. OF course as the principal is
reduced by the payment of
81, 10000 each year, the annual
interest charge will decrease pro-
portionately.
On the tax list as itnow stands
there is listed for taxation proper
ty in the township assessed
approximately $500, 10000. Thus
it will readily be seen that an
additional road tax of fifty cents
on each one hunered dollars worth
of assessed valuation must be
imposed in addition to the present
road tax, to provide for the pay
ment of interest and retirement
of one bond each year. This
means that the present road tax
of thirty cents on the hundred
dollars, which raises approx
mntely 100000 a year, could
then be used to maintain the
roads which will be built out of
the proceeds of the issue.
If a majority vote for the
bonds, the Board of County Com
missioners will issue the bonds
in accordance with the petition
for the election. The Board of
Commissioners will sell these
bonds and turn the porceeds
from their sale over to the
Bank of Woodland, which is the
Treasurer of NorthamptonCounty
for the account of the township.
The Board of County Commits
sion will then expend the money
for the purpose of building such
roads as they may deem best.
If they desire to do so, they can
designate certain persons in the
township to supervise the matter.
They will, of course, be amen
able to the wishes of the people
of the township.
The best method would be to
secure the advice and counsel of
the State Highway Commission
and under its supervision build
the roads by contract. This is
the normal and natural way to
spend the amount and will yield
best results.
The additional tax imposed
upon the property in the town.
ship to take care of this bond
issue will be relatively very small
when compared with the increase
in values of property in the
township and the money and
time saved in : g ira s2ortat on
OF the township.
The election ought surely to be
in favor of the bond issue.
The money will unquestionably
be expended in accord with the
wishes of the people and if any
change in the law is desired the
legislature will meet before any
of the proceeds of the bond issue
will be expended and certainly
the representatives of Northamp-
Ton county will be ready and
willing to pass any remedial
legislation with refert NE, to
, their roads which may be desired
by the people of the township.
These questions are details
which can be easily solved. The
main thing is for the people to
, think simply and carefully uron
, the sui ,et of wheather it 4
: good sense and sound economics
A. koyo oeaod voode ;notaad ~