The Marietta journal. (Marietta, Ga.) 1918-1944, 1919-01-17
BOND PROCEDURE AND
ROADS ARE DISCUSSED
BY MARTIN F. AMOROUS
Facts and Limitations About
Road Bond Issues
Trunk Routes Should Be Selected
Cost and Plans Outlined and Sub
mitted to the People for a Two
Thirds Vote of Approval.
Editor Marietta Journal:

Editor Marietta journal:
| am sure that all the people,
whether they walk or drive a mule
and wagon or horse and buggy or
an automobile, all want good roads
permanent paved roads are the cheap
est and they cost the least in time.
To get the good roads we must
pay their cost. My suggestion is that
the county commissioners select GER
tain trunk roads, namely, roads with
the greatest amount of travel, those
that the majority of the people use
select the kind and class of material
and give an estimate of the cost per
mie-with the roads proposed and
the cost stated, then the ways and
means necessary to pay the cost can
be considered and when the facts
are published the people most direct
ly interested will devise or suggest
the ways and means if they want the
road.
There are several methods by
which money can be secured for the
purpose, 1st from the general tax
fund, End issue warrants for annual
payment, 3rd borrow money through
bond issue. The state Constitution
permits counties to issue bonds under
certain fixed limits.
list. The total amount shall not
exceed To of the total taxable of
the county Cobb county's taxable
value being $10,000,00O her borrow
ing capacity is therefore $700,000)
End If bonds are issued for 30
years tax must be levied equal to
the annual interest on the bonds, and
also one thirtieth of the total bond
issue, this latter sum must be paid in
to the hands of commissioner to be
held by them until the 30 years. have
expired, at which time they will have
enough money to pay the entire issue
of bonds. They are known as sink
ing fund commissioners.
3rd. A vote of two thirds of the
registered vote is required to auth
orize an issue of bonds.
It's not necessary to get special
act of the Legislature to vote on the
bonds.
Another method would be to assess
some reasonable percentage against
the abbutting property, the county
paying the balance.
Still another method (if it is per-
missible) some roads might be used
as "tOll roads" until the cost is paid,
for instance the Atlanta road, if
paved permanently could charge each
vehicle passing over it small fee
which in the aggregate would provide
a sum equal to sinking fund and in
terest cvharges and thus pay for it
self in few years.
There is so much interstate travel
over this road | feel sure all would
be glad to pay a small fee for the
privilege of riding over a concrete
road as against struggling through
the mud free.
There is also a probability that
National aid may be secured to
limited extent All these things
could be more definitely determined
if fixed plans and cost for each road
is published by the County Commits
sion.
If bonds are determined upon they
should be issued on the Serial plan,
they are more popular with investors
and will cost the county less than
straight 80 year bond. / was chair
man of the Finance Committee of the
City of Atlanta that issued the 49,
100000 in bonds several years ago,
they were issued as "serial bonds"
payable one thirtieth each year, and
this method saves the city $1,7OO,-
900 in 80 years on that $3,OOO,OOO
issue.
Yours truly,
MARTIN F. AMOROUS
Atlanta Road. January II, 1919.