Ripley County democrat., 1917-11-30
Judge J. K. Langford's Good
Roads School.


the authorizing Of . bond issue {
two hundred thousand dollars; an
all, or most OF. the questions seeh
ing Information as to the effect upo
the tax-rate In general and the Ia
diyidual tax In particular, tnat fee
that l can make myself understood
better BY proceeding In the form 0
q school
q If the bonds are authorized
what amount will be issued the frs
year?
A.-Probably $4,000, possibly
$4,000. The amounts will depen(
on estimates OF the amount needed
to keep work going on for the frs
year.
Q.-What will the rate Of interes,
beS
A.-Not exceeding FIVE per cent
More likely four and one-half pei
cent.
Q-Would interest be paid on en-.
tire $500, 900 the first year2
A.-No. Only the $50, 900 or $780,.
600 would. be to pay on the first year.
Q.-How much money would we
have to raise by taxation the first
year?
A,-At Eve percent, (and will
use that rate for this article, while,
the bonds will probably be floated
at Al per cent? "a, 900 for interest and
$lO, 900 to retire the one.twentietb OF
the issue authorized.
Q What rate Of tax will be neces-
sary to raise this2
A.-Twenty five cents on the 800
valuation will raise the amount
necessary and leave q margin OF
$1,000 for delinquency and cost OF
collection.
Q.-What will we be called to pay
the second year2
A.-The second year probably
W., 600 will be sold which will mean
that we must provide interest on
$3.50, 900 (sl0, 600 Of the $4,000 is.
sued the first year having been paid
of. This would mean $6. 500 for In
terest and $40, 900 on the principal,
or q total OF $l6, 500
@ What would the tax rate be
for that year1
A : Thirty cents on the $100 valu-
alton would pay the, interest and re,
tire the $i0, 600 OF the principal with
VI 500 margin for delinquency & etc.
@ Then | suppose you will sell
the remainder OF the bonds the third
year. Please tell me the amount to
be raised and the tax rate for that
year?
A.-Havlng hut $50 900 more to
sell, this added to the $3.50, ono 10
force, ($2O, 900 Of the bonds having
been retIfeo) leaves us with $3.50, 900
oa' which 10 pay Interest for this
year. This will necessitate the rails.
ing OF $4,000 the third year. A tax.
rate of32 cents on the 800 valuation
will produce $19. 200 and there will,
no doubt be sufficient funds collect
ed on the $1,000 delinq uency Of the
two years past to take care Of de.
|inqueucy aud etc., for this year.
Aad after the third year the annual
interest decreases at the rate OF FIVE
hundred dollars year which means
that the tax rate, which has ayerag-
ID 29 cents on the 500 valuation for
5he three years, will be decreased
proportionately.
Q Now, Judge, while l have
oeeo informed by parties who claim
% know what they are talking about
hat this bond issue will be burden
md an increase of my taxes, and l
yet this Information from at least
hree county officers among others;
md as ] have been informed that
'ou claim that my taxes will not be
increased, | want you to explain to
ne how you arrive at your conclu.
ion which differs so radically from
be conclusion OF the other county
fficersY
A. Very we'll. AsI have already
hown you, the three years includ-
nR that which requires the highest
ate OF tax makes your tax rate aver,
ge less than 30 cents and never
oove 81 cents on the 500 valuation,
stands to reason that there will be
% necessity OF increasing the high. ,
st rate (32 cents) but that 1t will
decrease. While, II the !.
onds are not voted, the court will !
Q compelled to lew not less than /.
5 cents on the 500 valuation each .
nd every year 10 order to receive
,oney from the state and then we !.
,se the money from federal road
inds. In addition to this, II you are
and not over go years Of age, you
re almost sure OF being relieved Of
oil tax while this good roads money
J being worked out, thus giving {
on an opportunity Of getting good
ages IN CASH for every days
'ork you put In on the roads. These /
eutlemen who tell you that your
'xes will be increased, made the
lme statement during the first
and, like the boy Who'll
lid his"hoss was sixteen feet high"
I'LL stuck to II because, he said, be !
over said anything to take back. !,
@. Nov, Judge. will you please \
|ustrate. or compare my tax re- :
'ipt with and without the bond is
le, For the purpose my property 4
valued At SCOOP ! !