Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1919-11-27
WHAT THE BOND ISSUE PROVIDES

Under the bond issue resolution
passed by the Iowa County Board. it is
proposed to bond the county in the sun
of 81, $50, 600.
This money is to be used for the con-
struction of GA miles of concrete road,
10 miles of bituminous macadam road,
ITO miles of road surfaced with tailings
or gravel and ~ miles of sand-clay
road, total of 257 miles These roads
will be built from year to year as the
county board determines
II should be understood at the outset
that the county does not intend to sell
this 81, $50, 900 worth of bonds at once.
The bonds will be sold from year to
year, as the funds are needed for con-
strnction purposes and will not begin to
bear interest until they are sold
Under the plan proposed, 1857, 900
worth of bonds would be sold in the
year 1920, $400. 600 in 1921, and $500, 600
in 1922, 1923, 1924 and 1925. Thus, the
the roads would be built in a six year
period In addition TO the bonds sold,
there would be spent on construction in
these years the state and federal aid.
The county win receive in that period
sos, zoo Of state aid and $46S, 900 Of joint
state and federal aid. This will be ad-
ded to the total of the bond issue for
building roads and will make total
construction fund of SO, 286. 100.
The bonds will bear interest at the
rate of So. They are invariably sold
above par, which amounts to redue
ton in the interest rate. Recently, for
instance, Winnebago county sold $780,
900 worth of bonds for $l8S, 900, and the
SIS, 900 was utilized to reduce the inter-
est rate.
Another factor to which attention
should be called is that these bonds are
not sold from year to year and the en-
tire amount left outstanding to pile up
interest charges Immediately after
the first year in which bonds are sold,
beginning with the year 1921, the coun
ty beard will begin to retire the bonds
In 1921 they will take up $l00, 600 worth
of bonds and each year thereafter, in
Guiding 1925. From then on to 1886,
they take up Sl20, 900 worth of bonds,
and 50 on until they are all retired. This
means that the bonds are not left out
stanc l,g entirely. but Immediately af-
ter tseir issue we begin to take them
up.
After the six years of construction is
over, the state aid coming to the county
amounting to Sill, $50 year will be
utilized to retire bonds. In the 20 year
period this will amount to 1927. 900. The |
state will allow this county $275 mile |
for maintenance on the state trunk |
highways. Where concrete roads are
quilt, the maintenance will cost much |
ess than this. The state permits the
county to use the difference to retire
Dondg, and in the period of the bond
ssue, it will amount to SAP, 500, which
added to the 1927, 600 of state aid used
20 retire bonds, makes total of 1863,
800 which we will receive to help retire
.he bonds.
The average tax rate in the county |
lnder the bond issue plan will be 81. 20 |
/ thousand This means that man
$4,000 would pay $22 year in
axes. This amounts TO 42c week, or
SC a day There is hardly any man in
he county who will not be willing to
pay this amount to secure good roads.
AS matter of fact, the way our
traffic is increasing in this county, he
will pay it whether we bond or not, as
the maintenance cost is piling up every !
year.
You have the choice of paying inter-
est On bonds to get a good system of
roads, or paying for maintenance for
patching up the roads every year. In
the gear 1914, five years ago, Iowa
county spent on maintenance OF it's
roads $22s7 La the year 1919, it spent
S27, 4S6, an increase Of over 7O096, and
it is increasing from year to year.
The nub of the whole problem is you
are going to pay the money. How will
you pay it? To get good roads or on
patch WORK
nndnnulIlo RahIu Reafen