The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1919-10-08
COUNTY COURT
TAKES ACTION ON
FEDERAL ROAD
Votes To Guarantee The Pay
ment Of Subscriptions For
Highway.

At call term of the Breckenridge
Fiscal court, called and held in and
for Breckenridge county at the court
house in Hardinsburg on Wednesday,
August 81, 1919 for the purpose of
taking the necessary action relative
to the finance of the Federal highway
through the county and other bust
ness that may regularly come before
the said court Present Hon. s. B.
Payne, P. J. B. c. and the following
named Justices of the Peace, Esq.
Mccoy, Keenan,, Bennett, Heron and
| Howard.
In Re Federal Highway:
Whereas, the Fiscal Court of
Breckenridge county, KY, is now de-
sirous of constructing Federal Aid
Road in said county from the Meade
county line, to the Hancock county
line, via Irvington, Garfield, Harmed,
Hardinsburg and Cloverport.
And whereas, the said road will not
be finally designated as Federal Aid
Road, until Breckenridge county max
es provisions in advance to pay for
the county's part, of the cost of
building said Federal Aid Road and,
Whereas, the estimated cost of the
Federal Aid Road through Breckin-
] ridge county is $50O,OOO.OO and the
| county's part of said estimate is $2O1,-
10000 and, Whereas, the city of
Louisville, has promised and agreed
to contribute to the construction of
said Federal Highway through Brock
i -: Al e
and it appearing that the following
amounts have been subscribed
through and with the following
Banks:
The Bank of Hardinsburg & Trust
Co., Hardinsburg, KY, There is
subscribed $5s,s15.0O which is to be
paid through the Bank of Hardins-
burg & Trust Co., of that amount
there is now on deposit in cash $4,-
$500, in notes, $5O,0O5.OO.
rs per cent. or 37,5O50O of which
is regarded by the bank as being guilt
edged bankeable and in the opinion
of the bank in excess of 90 per cent.
will be collected. There have been
subscribed $4,555.OO which as yet has
not been converted into negotiable
notes, payable to said bank, most of
which is regarded as collectible.
Breckinridge-Bank of Cloverport,
Cloverport, Ky. There has been sub
scribed through said Bank total of
SOL, asa 90 of which there has been
paid in cash, which is now on deposit
in said bank, $13,72OOO. There are
now notes payable to said bank for
said purpose amounting to $16,227 90,
80 per cent, or 14,6O4.OO is regarded
by said bank as being gilt edged
bankable paper and the greater part
of the remaining $1,623OO will pro-
badly be collected. There has been
subscribed through said bank which
has not yet been converted into notes
$1,537.OO making a total as above set
out of 31,4s4OO.
First State Bank, Irvington, XIV.
There has been subscribed through
the First State Bank, Irvington, KY,
the sum of $35,255OO and in the opin-
ion of the officers of said bank there
will be 90 per cent of ,$31 AGO, which
is absolutely good and valuable
There is $4,000 subscribed which has
not been converted into notes, after
deducting 90 per cent. there remains
$3,49500 the greater part of which
will probably be collected making a
total subscribed through said bank as
set out above, $35.225.O0.
The Farmers Bank & Trust Co.
Hardinsburg, Ky. There has beer
subscribed through the Farmers Banl
& Trust Co., total amount of $22,
494.00 OF this there has been CONVEX
ted into notes payable to said banl
the sum of $19,4SO.OO of this there ha.
been converted into notes payable tc
the said bank the sum of $19,4SO 90 il
the opinion of said bany rs per cent
or $14,600.00 of said notes are gil
edge bankable paper and it is believed
that more than5o per cent of tn,
remainder can be collected. Thi
leaves balance of 100000 which
has been subscribed but which ha,
not yet been converted into notes
payable to the bank. This gives :
total amount subscribed through tn,
bank as set out above, of $22, 10000.
The Cashiers of the foregoinS
bank have this day certified to thi.
court the above facts.
This gives a grand total as subs
cribed in said county of $14s, O3s OF
in addition to the $5O,0o000 which i:
expected from the city of Louisville
1t is therefore ordered by the Fis'
cal court, of Breckenridge county thai
there will be and there is hereby SCI
aside out of the Road Tax Fund, Of
the First, Second and Fourth Magis.
terial Districts the sum of $4,000 ouI
of the levy for the year 1919, the sun
of $4,000 for the year 1920, and the
sum of $4,000 for the year 1921, to be
used in the event the total amount OF
! said subscriptions as above set GU,
should not be paid.