The Birmingham age-herald., 1924-06-14
NEED FORESEEN !. FOR NEW ISSUE
 OF ROAD BONDS
Remainder Of $25, ,OO0, 900 Issue Will Be Consum-
 ed In Few Years
(state Capital Bureau)

MONTGOMERY, Ala, June 13.-A campaign for another highway bond issue in Alabama is predicted by the time the next legislature meets. Ob- servers, of the status of road building in Alabama have pointed out that if the present rate of expenditure of the $25,000,00 bond issue is continued, there must be more money in order to continue any extensive highway pro- gram by the time a new group of solons assemblies on capitol hill. For this reason highway matters are ex- pected to fill an. important part in the next legislatures deliberation.
 Over half of the $25,000000 worth of state highway Abonds authorized by constitutional amehument have already been sold. Up to few months ago, the amount sold was $6,O00,000, which were disposed of in two issues of $3,OO0, 900. During this period, the proceeds of the state bonds were used only to match federal aid dollar for dollar and the rate of expenditure was dependent upon the rate at which, federal funds were available.
 In the spring of 1924 the policy of building roads independent of federal aid was decided upon. There was no prohibition of this in the law, though it had not been the policy previously for the state to build roads independent ly. Upon launching on the independent road building program, $7,OO0, 900 worth of bonds were issued and sold at one sitting, bringing the total to $13,- 100000, or over half of the $25 5,0O0, 900 bond issue.
 
 It was announced that the $7,000,- 900 worth of bonds sold few months ago were to be used for the program of. the year beginning June 1, 1924. There has been no indication from the highway department as. to what its program after 1924-'25 calls for.
 !, Up To Next Legislature
 As stated, the issue of $7,000,000 worth of bonds is to cover the program for the year beginning June l, 1924. All of this money will not actually be spent in this year, butit will be al loted to projects which will. be let dur ing the year. Estimating that the ex- penditure for the next year, beginning June 1, 1925, is a million dollars less than for the year just started, it will be $6,000,000, which will bring the total expenditure to $19000,000 worth OL luc PSOpOOOSVOO DOhu AcSuCs
 This will leave only one more $6,O00, 900 worth available for the year beginning June 1, 1926. Thus it will be seen that even allowing for some decline in the extent of the program the next legislature will meet in the midst of the year which will witness the launching of projects calling for the expenditure of the last of the ex- isting bond issue money. It will therefore be confronted with the prob lem of providing more funds or of stopping the present extensive scale of highway building.
 Figures from the state highway de. partment today show that. federal aid available for Alabama will amount to only a fraction of the state expendi. lures. For the fiscal year beginning July 1, 1924, Alabama will receive from the federal government sum of approximately $1 ,550,000, with g like sum for each of two next succeed ing fiscal years. rz,