Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1918-03-15
Define POLICY FOR
PAYING ROAD BONDS
COMMISSIONERS ADOPT RESOLU-
TON PROVIDING FOR SPE.
f CIFIC ANNUAL TAX.

C1FlC ANNUAL TAN.
A declaration of policy, setting
forth that enough money shall be
retained each year out of the regular
road and bridge fund with which to
pay all the interest on outstanding
bonds and one-twentieth Of the prin-
cipal, is expressed in a resolution
adopted by the county commission
ers at their regular meeting this
week.
The resolution, which is quite
lengthy, pledges the commissioners
to carry out this policy so that the
taxes levied for road and bridge pur-
poses in this county, including inter-
est and principal payments on the
bond issue, will not at any time ex-
ceed the taxes levied for road and
bridge purposes this year. The pol
icy becomes effective in the event
that the 100000 issue is authorized
at the special election March 26.
Text Of Resolution.
The full text of the resolution Is:
Whereas, federal and state CO.
operation and the sum of $4,000 has
been rendered the county commits
sioners of Thurston county to aid in
the completion of the paving Of the
Pacific highway between Olympia
and Camp Lewis; and.
Whereas, the war department has
approved the plans for a viaduct
over the Des Chutes waterway as
part Of the Olympic highway; and.
Whereas, the maintenance OF grav-
elled surface on the primary high
ways in this county under the in
tense traffic to which they are now
subjected is not only unsatisfactory
but very expensive; and.
whereas, the so=cafied hard sur
face construction Of highways seems
to be the best and the most econom-
ioal under present conditions; and.
Whereas. it Is apparent that the
construction Of paved highways to
any considerable extent on the "pay-
as-you-go" policy would materially
increase the already heavy tax bur-
den upon the taxpayers of Thurston
county: and,
Whereas, the commissioners be-
lieve a plan can be adopted with
state and federal cooperation to pave
the public highways and pay for the
same in annual payments over a
number Of years without increasing
the present rate of taxation for high
way purposes; and.
Whereas, the county commission
ers have called a special election to
be held on the 26th day of March,
1918. to submit to the voters of the
county a proposition to bond the
county for certain permanent high
way construction purposes; and.
: Whereas. 1t is desirable that the
voters and taxpayers be fully in
formed as to the plans and inten-
stions OF the commissioners to provide
funds to pay bond interest and prin-
4 cipal without increasing the levies
for road purposes over the levy made
in 1917;
Statement Of Policy.
Now therefore, be It resolved,
First: That 1t is the declared inten-
ton. of the commissioners in the
event that such election results in
an approval Of the bonding PROPOSE
tion, to ascertain each year. as the
work progresses, the amount re-
quired to pay the annual bond inter-
est and one-twentieth of the princi-
pal and thereupon to levy a tax Of q
sufficient number of mills to raise
the necessary amount and such taxes
will be placed in a fund to be known
as the bond interest redemption
fund.-" and that the amount Of mills
SO levied shall be deducted from the
amount of mills levied for road and
bridge fund as levied for 1917, but
not to q greater extent than three
mills; provided. that II at any time.
In order to raise sufilcient funds to
meet interest and one-twentieth of
the principal more than three mills
are necessary. then, to that extent. a
reduction will be made in the road
district fund as levied in 1917.
The commissioners at this meet
Ing also adopted the following reso-
luton and telegraphed it to the
board Of directors of the federal re-
serve bank at San Francisco, who
are passing on the local bond issue
Only 5000. 900 Now.
Resolved. That no part OF the