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Show uu - Road Bonds Are i Sold by the State The state board oi loan commissioners commission-ers yesterday sold Mum. ,,f roal bonds to the Palmer Bond .0.-Mortcace .0.-Mortcace company, as per a former contract entered into some time ago. i This makes a total of $1,300,000 of the $4,000,000 authorized by ihe legislature jof this ear for Improvement of state ! roads all eady Issue d With this iBSUe the states bonded ! Indebtedness becomes $6,010,000 There are temporary loans ot $600,000 cha ted against the state general fund, i but sinking funds represent $640,000 in cash on hand and in investments. Thus the net indebtedness ot the Btate is $5,970,000 In addition, there are $2,711(1. .i more of state road bonds issue of which has been authorized, but which have not been sold There are $1,000,000 additional of soldier sei tlemnnl bonds, of which the Issue is coniingeni on some plan of cooperation coopera-tion between state and federal governments govern-ments in soldier settlement worn being be-ing reached. I The state, therefore, under the pres enl authorized issues, may increas, Itfl idebtednesj to $9,6To.oon The assessed valuation of lhe state jihis year is approximately $691. I,- 000, or a trifle over The indebtedness (limit is l1-;, per cent of the assessed Valuation, or in this case, $10.67u. The state might, therefore, if authorized author-ized by the legislature, issue $1,000,-fniO $1,000,-fniO more bonds and just keep within the limits of the constitution, provid-,1 provid-,1 n d nied itself the annual tempo- in loan of from $5110,000 to $1,000,-liting $1,000,-liting the payment of taxes in each o ember. A constitutional amendment, however, how-ever, will be submitted to the people lal the next stale election, in November, Novem-ber, 192i, which would raise the in d ibtedness limit to 2 per cent. This would, on thf presenl aluation, make I possible a total indebtedness of $13.- 840,000. or $4,170,000 in addition to all h adfl now authorized or outstanding |