The Durant news. (Durant, Miss.) 1882-1985, 1952-05-01

every month at the average rate OF S7445l3 month
yasyOu go road program begun result of action of the
Under pork barrel the money given the
Nor could they buy equipment. "a o,' - an = ny
county month"; is distributed through the office of Mr.
hired by county and plans and specifications for each
gnate in their respective counties the projects they want
the projects may be dsappr0xed by the state aid office
sales tax gasoline and on automobiles trucks kindred
of state-aid money of ANY COUNTY IN THE STATE
Kinds county get $50; Coahoma county gets l46 Bolivar
stateaid federal funds the $4,000 annually which
the county as gasons tax e,@no
E BUILT BY THE BOARD WITH THE MONEY IT PROPOSE
IF THE BONDS ARE NOT ISSUED! sa-l. oqr
in Holmes county is the undsPated foct that should
the gasoline tax refunds fall short because Of de-
creased consumption Legislative cotton for any
other reason whotsoexef-it would then become
cneeessoy for the Boord Of Supervisors to use q
greater percentage ofthese gas tax funds to retire
the $4O0000 bonds Ieovins less to mointun the
roads they would Aa&e to increoseathe tax levy
at the expense Of every tdxpoyef the county This
would be poid'by everyone whether president or
mot; Mhether hane owner farm or automobile owner
SAT 90. THESE BONDS ARE Full FAlT HaANDn GRE
DIT BONDS, OF HOLMES COUNTY AND MUST
BE PAID REGARDLESS OF.oo,ANY ECONOMIC
CONDITION THAT MIGHT ARISE -qs5o s,oats 'G'
.,.5 AS such, THEY. CONSTITUTE A S400, 900
" MORTGAGE ON n EVERY PIECE OEaaTAXABLE
PERSONAL AND REAL PROPERTY m HOLMES
COUNTY. oaar n o@T
5. We respectfully suggest that the $400. 900
asked for by the Board is too expensive q PROPOSE
ton for the county to undertake in these infoton-
nry times. This is time to poy with what moy be-
come an additional tax burden on every citizen.
f. THE BOND ISSUE WILL COST NOT S400, 900
BUT AT LEAST $500 O00 INCLUDING INTEREST,
ATTORNEYS FEES AND OTHER MISCELLANY
EOUS EXPENSE.
AS400,00 bond issue for 20 years will carry
- IL
on shorter terms
At 2h9d the interest alone on this 100000
issue for 20 years will be Sl05,00O
1t is doubtful that the bonds could be sold for
2h9o. 1t may carry higher rote ~ .o.....
ATTORNEY FEES ALONE ON THE ISSUE,
ALLOWED BY LAW, WILL BE 81. 900, or one per-
cent Of the principal. ~ al as r ~ ga.
6. After a thoughtful study Of the proposed
bond issue and eorefui Investigation of the foct
ors involved the fact becomes apparent that this
bond issue is not Justified or needed The Board Of
Supervisors by ticking advantage Of oil the stote
did and federal funds now ovoobIe and which will
be available for period through 1854 to Holmes
county may pIon bridge building program if it so
desires that can be financed on q sound PAY AS
YOU 60 basis with no risk involved.
We submit further that by ticking advantage
Of these teoid and federal funds which have al
ready been designated for Holmes countys use our
Board will be obIe to finance bridges as fost as they
can plan and approve carefully considered, long
bridge buiIdine program. The money will come in
os fost as they can wisely spend it.
In addition next summer there will become
available another federal distribution of opproxi-
moteIy $4,000 WHICH con be used for roads and
j. bridges on the state aid system.
If the Board wants to get rid gtits road and
bridge building program for oil time it could very
we'll do 50 by building two complete rodds edeh yeo'
under state did which could thea:be turned over TO
the stote for perpetual montenonces'or they could
Likewise build five bridge projects pes,yeor in the
same manner
WOULD s'S T4g Q6oHf7 f4Hg coSsqHN4