The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1922-10-26
TO THE VOTERS
OF FULTON COUNTY
Relative 10 the County Bond Issue. Nov
ember Election

This county has for the past twenty
years been drifting into debt, but not
great deal each year, yet the drift
has steadily and surely gone on; now
we, the Fiscal Court of Fulton County.
after much deliberation and hard study
have figured out a plan by which we
know beyond a doubt that we can low
er the debt at least the amount each
year for the next twenty years that we
have drifted into each year for the
past twenty years. Now there is no
use talking about the present Fiscal
Court getting the county entirely out
of debt In the term for which they are
elected and at the same time keep up
the roads and bridges and other gen
eral improvements which they are do
ing each year because the debt has
crawled up until we now owe to the
general public. the banks of the coun-
ty and to some few companies out of
the county approximately the following
amounts: In bonds. $4,000. with one
years accrued interest which will be
due I'm January. 1923 and payable at
Dearborn National Bank. Chicgo. Illi-
nois i'm notes that are made To individ-
uals of this county. $4,000. which are
due each year. although the interest il
paid up to date. and after the revenue
has been deducted that Is due from the
sheriff this year there will be Outstand-
Ing warrants to the amount of SI3.OOO.
Now. the purpose of the bond issue il
To fund this $73.O0O i'm warrants and
the old bonds OF $4,000. which are
due. making n total OF $4,000. and the
interest ON the warrants and bonds will
amount to $11 900. which makes total
of 100000. this being the amount that
should be funded and placed into one
debt. We have been offered the money
at ) per cent while we are now paying
q per cent. That alone will save i'm
interest each year. 81 900. Another good
feature when we put this into IA bond
issue it will force the Fiscal Court of
the present administration and all flu
ture Fiscal Courts as long as this bond
issue lasts tn pay the 5000 OF bonds
due each year and the interest ON the
entire amount. so with the proper man
sgement the county will be getting in
better shape each year. The reason we
do not think 10 best to fund the entire
debt IL that we are going to pay at
least $25.O00 this year but we can not |
hope to do this every year, as we can
foresee some things that we will neces- |
sarily be compelled to do that have been
left undone this year. yet we do think
we can save enough each year TO take
up the $4,000 In notes outside of the
contemplated bond issue in the next
two or three years. thereby paying IL
In n shorter time than IL we should
have IL I'm the form of bonds. This is
only a business proposition We owe the
money and owe IL to various people and
banks. Therefore. what would be the
difference I'm owing the money to one
hx,u liVv NJ
rate Of interest and fixing our debt 50
there will only be due 5000 with in
terest ON the entire amount. which In
terest would amount To 5000 the first
year but will continue to reduce each
year. SO that will give the Fiscal
Court more money to spend ON the
roads and bridges each year than they
have now as all the money Is due now
'all the time. thereby making a great
deal Of difference I'm our credit with
banks and individuals. IL we could
fund this amount of our Indebtedness
we could run the county on a cash basis
and thereby save at least twenty per
cent ON that item alone. You can read
lily see by the saving In labor, and the
saving I'm interest. we would have more
money to spend ON the roads and at the
same time be gradually paying off our
indebtedness. There will not be any
raise i'm taxes as the county has now
sufficient sinking fund rate already set
aside to take care OF the bonds and In
terest due each year. by this means.
Just In n few more years the Fiscal
Court will have sufficient funds to do
some real work ON the roads OF Fulton
County.
Fulton County Fiscal Court.
Chas. ID. nugget, Co. Judge.