Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1927-06-12
COUNTY WILL
LAUNCH ROAD
PROGRAM soon
Bond Issue of Million
To Be Sold June Is,
And Contract l. ct
June Is for Paving

Cameron sounty's $4,000, 900 pay
inE program, the largest ever under
taken by a county in the South, will
swing into line for action on June
IS and Is. when the first 81 l,000.000
in bonds are sold. and the contract
Is let for approximately Sl.00o,J00
worth Of paving.
The bonds viii be sold by the COM
missioners' court on June l5. and
the same body, meeting on June l6,
viii open bids on the first million
dollars worth OF paving. and viii
award contract if the bids are adj
Judged satisfactory by the county
engineering officials.
More than 20 large bonding hous-
es. doing a national business, are
expected TO have Representatives
here on June - % bid on the bonds
which the county will sell 10 that
time. according to County Judge Os-
ear C. Dancy.
Judge Dancy said that the bonds
are printed as 3 per cent boHis. al
though the county commissioners
court will receive any bids made for
hards nj a lower rate of interest. and
If bids that are satisfactory are re-
ccived on an issue OF l-2 per cent
bonds, the county viii accept the
bid. and have she bonds reprinted.
May Sell at 4 l.,
Judge nancy explained that n
quarteF of one per cent in the
amount or interest paid will amount
~ more than almost any premium
that might be offered. explaining
that this will make a difference Of
approximately $4,000 a year during
the life Of the bonds.
INQUIRIES have been received from
bonding houses in many parts of
the country, and aFcrts OF these
houses have come from rs far away
as New York 70 secure information
on the county and the issue
The county judge has sent out i'm
formation on the county To bond
buyers in all parts ~ the United
States. In his statement Judge
Dancy gives the history or tho bond
election in which the $4,000 900 Is
sue passed hy a vote Of 1926 to 665.
and points out that the tax rate Of
the county including this issue. and
another issue III million or a mil
lion and a half will nor exceed s1.23
on the 500 valuation The tax for
this issue is % cents on the 500
valuation.
The valuation VI the county for
1927 is estimated IN the judge at
S36 1000 900. or an increase OF almost
S6,000.000 over the 1925 valuation.
Asked To Visit Valley
The statement closes with an in
vitation for the agents NJ the bond
buyers to 'comc and see" the county.
and Judge ~ its value. Enclosed IN
the information 10 the bond houses
is copy cf an article from The
Herald. showing the bank deposits
and resources Of the county. the
statement showing deposits of Sl0.-
9sT .66ss6. and resources " $l3.15i.-
l2s.2s az the last bank call.
statement Of the bonded in
debtedness Of the county shows that
the total is S3.5s6.00o. and the actual
Indebtedness S2.34i .-O2.67.
An attractive premium ~ expected
by the county on the bonds N the
ISSUE is sold az : per cent interest.
while "A bid on : II per cent bonds
would mean stIll greater saving TO
the county.
With the funds from this bond
sale the county will pay for ex-
tensive paving work which ~ 10 b.
done in inauRurating the $4,000 600
feeder road paving program.
Roads Listed
The notices To contractors sent
out recently ist the roads that will
~ paved iH the first issue. The con
crete work includes the Boca Chica
road from the city limits Of Browns
VILE out Fourteenth street and III
Jartin bulevard 70 the drainage
ditch apnroNfmately SIS miles. the
LLlntInlnd WIN page threel