Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-02-20

1t seems that there is concerted
movement on foot to make Iowa peo-
pie believe that the issuing of road
and bridge bonds will raise the taxes
to such an extent that man can not
afford to own property in the state.
II the people who read these scare
statements would take an hours time,
and apply the bond situation to their
own county finances they could easily
demonstrate for themselves the utter
absurdity of the statements made.
Road and bridge bonds are often COM
pared to bonds for school houses and
court houses, on the theory that what
is good for one permanent Improvement,
where the cost is in excess OF the
amount that can reasonably be raised
by taxation, is good for another. But
l believe that the road and bridge
bonds will stand on their own merits
and that their desirability can be DEM
onstrated from actual county business.
1t can be shown that from the stand
point of the taxpayer the bonds are
a good business proposition.
Buena Vista county has issued road
and hridge bonds, to take up outstand-
ing warrants for the past three years,
and we now have s245,5 in funding
bonds, maturing part each year from
1918 to 1887 inclusive. In September,
1914, s1S,500 per cent bonds were is
sued; Jan. /, 1915, s2l, 500 per cent
bonds We're issued: the issue of Jan. l..
1916, was $4,000 at AZ per cent; the
ase
"A per cent Not more than $4,000 OF
these bonds retire in any one year I'M
iii Jan. !, 1925, when the amount IS
$lS,5Go. Each year thereafter there is
retired $4,000 until Jan. l, 1888, when
the amount drops to $4,000 for the re-
manning years. until 1887. Premiums
have been secured on all these boad
sales, the premium on the 1917 bonds
being over $4,000, making the net rate
of interest TO the county for the time
the bonds have to run OF about i.o6
per cent VIII 1t pay Buena Vista
county TO do work in this way?
Our levies for road and bridge work
are 9.3 mills, divided, for the taxes
collected in 1916. as follows: Bridge, .
mills; road, mill; drainage. / mill;
o. =
terest, 0.3 mill. and there is an under
standing among the taxpayers that tic
total of these ievies shall not be in
creased. The money collected from
these levies in 1916 was. bridge, Sac
400; road, $a,Ssl: drainage, Ss,ssi;
bonds and interests. S2,S6i; road oulid-
ing Sl6.5SI, and our share Of the motor
vehicle tax was sI6, l6t. making total
amount of funds raised, including the
motor vehicle tax of $I0i,SSo.
BY the end Of the season Of 1917
We will nave the county road system
TO permanent grade, anu
largely sraveled, and the bridges aLt
of permanent material with tna
exception of about forty. If the ''po-
iitical road builders" do not get their
ideas incorporated into law in sucE
shape that the work viii be thrown.
back into the old system as seems to
be contemplated, we will complete the
bridges and the crawling in 1915. AS
Stunning that this program is carried
out without hinGrance, we estimate
that another bond issue of s22o,oeo
will be required to complete the WORK.
This will make the total amount OF
bonds $40. 600, and We are going II
undertake TO pay these bonds princi-
pal and interest. without an increase
in the levies, and still have some
money left for other work TO be done.
For our maintenance. we will allow
the highest estimate that mas osen
made. $l25 per mile per annum, Tor IN
giayeled roads This will make total
OF s2I,Jo0 each year for maintenance
of roads. ADD to this the $500 set
aside for minor repairs 10 permanent
bridges, ana We have 4 t2ta! Eaaiuleh
ence fund Of $4,000. annually. Our
necessary TO taHe care o.
the bonds, both principal and interest,
and these figures include the pfinci-
pal and inte! est of the $225,eo0 pro-
posed issue mentio7ei above, Will bs
sS6QOO il. 1920 Then for three years
The collections will drop 10 $4,000 an
nuaIly for bonds. This difference IS
due to the fact that under the present
system Of issuing funding bonds tnc
board can nor make a levy in the fall
in anticipation OF bonds 20 be issued
the following January. ConseauentiE
when the interest comes due in the
next July and again in the following