The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-08-09
k|WAN|S CLUB OF ROSWELL
TAKES STRONG STAND AGAINST
State ROAD BOND ISSUE
Text of Report Adopted by Business Men Makes
Careful Analysis of Highways Financing Pro- H
posed and Concludes State Cannot Stand
Ten Million Dollar Road Building
Program in Next Six Years

reads and laws 80 enacted au-
thoriliuE Issue and sale cf state
highway drbrntursa aud to anti
cipntc the collection OF revenue
from motor vehicle licences and
other provided by law
Tor the state f1ad fund, shah take
eject Without submitting them
to Tho electors OF the state. and
Notwithstanding that tho total iu-
%debtedness Of the state ina thore-
~ temporarily exceed one per
centum of tine aag.saod valuation
Of all the property subject To tax
alton In tlip state. Provided thar
The total noun OF such State
highway bonds payable from pro-
cerds 90 taxes levied On property
outstanding at any ono time shall
not exceed VI million dollars.
This Legislature shall not enact
any law which viii decrease tho
mou Of annual revenues
pledged FOR the payment OF state
highway debontures or which viii
divert any such revenues to any
other purpose 30 long as any of
said ~dchcnturca Issued 10 anti
cipatc the collection thereof re-
main unpaid.
This amendment ls TO Dc submitted
20 the vote OF the pvoIsc IN September
next together with ten other proposed
amendments. itH apparent pgrpose
II to validate the s2.00O.O00 rond bond
issue provided Tor Ia thr law in caH,
that insue cxoeeds b constitution
Hunts OF indebtedness now obtaining
unI to rattfy this issue Vt bonds with
"ut specifically submitting 1t to The
people. aq b. required Ia IA. case of
other proposed issues.
Voted On last year.
This amendment IL In all essential
respects similar tu that proposed D.,
Joint lieauiutiuu No. n by the 1918
tpslHlature which was voted down then
hy g decided vote OF the people. That
proposed mat bond issues Tor roads
should hp taken out OF the congtitu.
tiuual limitations. Since 1919 all con
dittous which made r~ctrrnchmeHl
and economy necessary have been de-
cid'dly uc,ontuutcd What was true
th'n iH true to "a greatly Increased de-.
gre" now. Now oven more than then
80 very uuuE',a1 q course can d. lugtI
htd only because of sumo very unus-
Dal necessity. when the present
amendment WAS proposed and the bll
nns'"d Do was eoutsndvd that tho
bond issue was absolutely -necrAHtr,
iu order tO meet the federal road al.
lutm'hts now available.
Tie committees Conclusions.
W" arc convinced
lst That the s.. 900. 600 bond ia.
suo Del not necessary tu meet the fed,
srai AID illotmeuta.
End That we not need and cnn.
not afford 70 borrow this money Tor
The purpose ui swelling the stat, road
FUND 90 this dime.
According Co available information
we find.
T. Tint an tho funds necessary 10
moot federal aid allotmcuts are avail
H' l' under u.iafinE measures es,cp,
fI.-ia.rNU and this emergency Issue
"i two million dollars is urged tu proc
vide that SUM
That There VIII Dc ayailub'c for
's%uondiiut, up 20 January I, 1875.
without o. bond ISSUE. On, sum OF S..
a,a.GJ.u o. a yo million dollar bond
isHu' would It.su this sum uyaiilbl,
tp th' huge amount ur ten and q
quarter Wiliou dollars 90 ho Fnent
hr th" stat" Tor roads before 1926.
The estimated expenditures other than
federal ulb Hru 1929. 400 70 year fur siA
years, ben gll SIt4y. 600. By rrduc.
luE fhus" astimutos. these expenditure.
by Hbout $500. 900 q year this shurtug,
cam ht met We Hru strongly of tnl
opinion that this reduction. 10 n prove
20 lu necessary should be md can Boz
Effected We hulieyo hat 90 should ~
in whole or iu part even 10 DO resulted
Bon %. failure iu meet U portion OF
the federal uliHtmoHtE That 30 would
Hn result $50 de- mot hHliryr is prob.
tI Thtr. .s a. hin before congress
,S a.. IUlLI uroyIdiug fHr mo ,N.
p, nsion of tho time bon which 10 meet