The Punta Gorda herald. [volume] (Punta Gorda, Fla.) 1893-1958, 1920-06-24
AUTO TAXES WOULD
TAKE CARE or STATE
HIGH WAYS BONDS
Chairman Smith, of State Road De.
partment Explains How Interest
and Principal on Bond Could
be Provided for.

When called upon a few days age
at the headquarters and asked for a
statement concerning the importance
of the proposed amendment to the
state constitution in its relation to
the work of carrying out the plans OF
the department for state system OF
permanent roads, M. NJ Smith, chair
authorized the publication of the fol-
lowing:
"A vote for the constitutional
amendment empowering the legisla-
ture to issue bonds for the purpose of
constructing and maintaining a state
system of permanent roads will be a
vote in favor of progress and pros
perity for the entire state Without
state system of permanent roads
Florida will be a long time taking its
rightful place among the progressive
states OF the South. The present
roads are very good-in fact re-
markably good in some Counties
but they are not connected. There
be made to connect up their road
systems with adjoining counties.
The only solution is state supervision
and control. But state supervision
and state control, without adequate
funds, means nothing.
Funds for road building can be
acquired only through taxes On prop |
erty or through a state bond issue |
1t is very evident that the people do
not intend to stand any increase in |
taxes on real and personal property;
therefore. state bond issue is the
only solution Of the road system
problem.
How can IN issue of state bonds
be taken care of without levying a
tax to take of the interest and sink
ing fund?
Easily enough. y
Here is the answer: {
Enact a law providing that the 9
revenues derived from the state reg l
of motor vehicles be devot- 7
ed to paying the interest and provid- u
ing sinking fund for the retire
ment of the bonds 7
The proposed amendment to the {
state constitution authorizes the is l.
3uance of state bonds for roads and il
bridges not in excess of per cent of
he assessed valuation of all taxable
property in the state at the time of
ssue. =,
while the assessed valuation
would authorize state bond isspa Of
20,0C0,000 by the time the 1921
legislature could enact the necessary
egislation, it has never been con- ty
emplated that the legislature would be
rtaorizc II" issuance ard sale of u
lore than s5.O0o.0O0 Of bonds nj
ach session. In other words the pc
,gislatura of 1921 would authorize
n issue of $4,000 OOO. the IngisIa-
Ire of 1929 would outhorizn an ie
lie Of $4,000. 900: the legislature of
425 woud authorize an issue of $5,- VI
10000 and the legislature Of 1927
ould authorize an issue of $1,000 sci
20 making total of 500 600 ooo
at the beginning of 1928 po
"This would give 80 zoo O0o NOR .
ar of state funds darivod From, H.,
nd issue to be used in road con- 1a,,
ruction and maintenance and to
is would be added any federal aid
nds apportioned to this state Ie'
lille, of course. there is no certain ~ ~
Of any additional federal aid ~
lds beoominc ov,tIobIo thauo ~ S
cry reason to surrosc that the nra- inf
1t ratio of $500 OOO to 80 00o S
0 per year of fadero1 oid ,,,iI1 W. Boa
ltinued. This would give from Lul
OO0,0 900 to $4,000 600 nar vea,. ~ Jun
,,r.,,I - - -. =