Show MEETING FAVORS ROAD BOND ISSUE facts and figures submitted by E engineer n gincer K C wright and county copi missioner albert holmgren at a spec ci I 1 jal ial meeting held in the commercial commerce 1 club rooms last night convinced ti ane most conservative taxpayers that ga bond issue for to build roads croaa in box elder county is the consi consistent slept thing to do providing federal aid can be secured this announcement should not carry with it the idea that some thirty representative citizens and taxpayers at this meeting desire to ili crease the rate of taxation one cent i but just jus t the opposite they prop propos eito 0 I 1 reduce taxes this year if a bondis voted at an early date it is true that people generally ate afe opposed to bonds for any purpose to I 1 vote bonds means that the debt must be paid with interest and the taxpayers ers are the people who will chavelo meet the obligation in some instant ces the people have been mislead as to io facts and figures and later discovered that the thing was wrong but bee because au s e somebody erro red is no evidence that bond jesues always work out agai against abt the interests of those who have to to p py y them air wight stated the purpose af I 1 the good roads bill passed 10 10 assist the states and counties in the ca construction of a system of highways hichwa art in the country that in utah it is arp posed to cooperate with some of t the e counties on a basis of 50 50 the federal government to pay half and til the e county one half 01 ol of the tha cost of tile highway in other couri counties ties including box elder on a 60 40 basis the e c county 0 u paying 40 per cent of the ca cost st and ap jn some counties on a 75 25 basis ba sis the T e last information he said is to the effect that the ille state road commission may decide to cooperate on a 75 25 basis on all projects and if so B ax i x eldir elder county should be prepared to cooperate with the government in ae the construction of a hard surfaced road from city to tremonton Tre monton tf te reason why some counties hav have ail already secured thousands of dollars of federal money is because they were ready with funds available to meet government money cached cache valley voted a bond issue last year and men and teams bearns ate are today employed haulin hauling gravel to the proposed projects putting money in circulation mr wright explained that it will cost to build the 4 12 miles of road west of brigham city the governments ern ments share shafe on a 60 40 basis would be the county if box elder county proposes to meet this proposition it will be necessary to I 1 bond for or borrow that amount on a short time loan the latter system would mean higher taxes for road purposes this year ii if a bond issue is the best method to secure the money it will cost no more for the election expenses to vote on than if a bond issue was voted to be sold in unities as needed during the next few years this would furnish a means of matching federal aid whenever the opportunity presented itself said mr wright Wrig bt he then proceeded to show how this tern tem works out on annuity or installment plan as follows his figures were based on a bond issue issue instead of as decided on later drawing five per cent which would create an annual obligation or interest of annual annuity a total of obligation each year for twenty years A tax levy of is all that would be necessary to domeet meet this the total cost of the issue would be annual 20 years lh interest terest fund total net cost 7 or a yearly payment of sl 2867 ad an dually over a period of twenty years which is just per cent ceni paid on the investment for good roads assuming that would be spent this year on ahe the four and one half miles west of brigham city the coust boust would be for interest sinking fund 1715 a total of this year under the bond bon d system add to this the annual obligation on the outstanding bonds bondi S would bring to total amount to be raised annually or i a tax of the tax this year Is is now 4 mills in other words if a bond issue carries and the first unit of is sold this year to build the four and one half miles the taxpayers will viii not be required to pay one cent more in taxes for the following reasons the levy last year for county roads was I 1 mill state road fund 18 mills interest and sinking fund 4 mills total 32 mills if the system pro proposed by mr wright is adopted the levy this year could be made I 1 mill for county purposes 8 of a mill for state road maintenance and 4 of a mill interest and sinking fund a total levy mills A reduction of I 1 mill so taxes could be reduced instead of increased this year and coming 1 years and we would have the 1 good roads which would mean another saving in more ways than one the above figures are not the figures of the writer of this article these figures were submitted by those choso who have spent days of hard work on this proposition mr wright or mr holmgren will be e glad to explain details that cannot be included in this article for lack of time and space after mr wright had explained the above facts and additional information on the subject commissioner holmgren suggested that if a bond issue is considered favorable that of the be designated to be used on side roads in the county whiny t gravel ravel ara grading is needed and sold in units the same as the balance of the bond issue he contended that a direct levy was too high and works a hardship on the people to build and maintain roads main traveled gravel and earth highways will not stand up under present traffic conditions and it is only wasting time and money building bui ming them he said it would be a saving saveng proposition to the taxpayers to build a hard surface road from brigham to tremonton Tre monton and then grade and gravel the side roads J C knudson made a motion that it be the sense of the meeting favor bonding for I 1 of which be used on side roads and the for the highway between brigham and tremonton Tre monton to be sold in unites as needed each year until the road is completed providing the federal aeral government will participate on any fair basis in the construction of the same commissioner brigham wright favored borrowing to build the four and one half miles instead of bonding judge J D call stated that he had bad been converted to the proposition as submitted by mr wright and commissioner masslo ner holmgren and favored the motion C W merrell said he had been opposed to bonds but he too had been converted to the proposition for or this will enable us to get good roads without increasing the tax levies and will furnish employment at a time when men must have something to do to live and this method will help many pay taxes frank merrell talked in favor of the motion he said if we are going to continued on page three column six MEETING FAVORS ROAD BOND ISSUE continued from page on ono borrow to build the yi miles there is no better method than to bond for it he called attention tol to what the taxpayers are doing in cache valley and how the plan is working out commissioner craner J W peters bishop H W V valentine bishop E M tyson E W V dunn J D peters and others all expressed themselves in favor of bonding for as outlined by mr arid and mr air holmgren gr e n providing the federal government will assist on a fair basis H W valentine called attention to the fact that we have the material to build the road right here in the county and practically all the revenue would be paid to to local people that if the government will pay 60 per cent or more of the cost of f construction it was a good business proposition from any standpoint that we will pay a higher rate to borrow money than to bond J D peters said there was a gloomy feeling among the people so many out of employment he said if we are going to do anything it should be started immediately that it will cost no more to vote on a bond issue than a small one that a bond issue does not mean a burden to the people that big corporations are frequently bonding and re bonding to good advantage he thought some one should investigate matters quickly and find out positively just what the state road commission can do in the matter it was his opinion that the last bond money for was not expended judiciously ori elf the roads but did not blame the commissioners conditions are different now he said and we know more about road building and methods of meeting these obligations A motion carried to appoint a committee to wait upon the state road commission and make other investigations and call another meeting at an early date |