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NEW COURT HOUSE BOND
Page 71History of Story County, IowaPage 71

Tenth levy on $5,129,026 valuation for 1885 at 2 mills10,258
————
        Overplus415

At 11 mills for nine years, and 2 mills for the tenth year, will pay the $40,000 bonds with their interest and have $400 of an overplus left. W. G. ALLEN.

COMMENTS BY THE EDITOR, W. H. O.

The above figuring is the most convincing, fair, and devoid of any assumption, that we have yet seen made by any person, on the Court House bond question. In fact there is only one thing against it, and that is, it has not assumed the increase of the valuation of property to be as fast as it actually will lie. It is not a difficult proposition for any person to comprehend, that if $1,795,120 will increase in valuation $166,695, in each year, that the valuation which we shall start with the next year—which will be about $3,500,000,—ought to increase about twice $166,695. But Mr. Allen has only assumed that the greater valuation of the next ten years will only increase as many dollars per year as the smaller valuation has during the last ten years. This, the readers will readily see, is assuming much less than the natural growth of the county will actually do. Therefore, we believe there is not a single doubt but what 1 mills' levy for the next ten years will pay the $40,000 for the Court House bonds, and more too.

Of course, the levy asked for is 2 mills per year, but that is in the nature of a discretionary power conferred upon the Board, which they will only use in the case of necessity. As a pledge that they will only use it in case of necessity, we have their own words published over their own signatures in our issue of September 10th, in the article in which they gave their reasons for submitting the question. The following is their language as then expressed

"Now the proposed levy for the Court House is only 2 mills on the dollar, which at the present valuation of over $3,000,000 of taxable property in the county will pay for the Court House in less than ten years, and we believe it safe to calculate that 1 mills on the dollar, with the increase in valuation of property in the county, will fully pay it in the length of time the bonds have to run. In case the bonds should be voted, we think it expedient for the Board of Supervisors for the first three or four years to not levy over 1 mills on the dollar, which will be one-half mill less than is now levied, so that the county tax, notwithstanding the building of the Court House, cannot be increased, and with proper management may be decreased."

Now, Mr. Evanson and M. Carr are among the heaviest taxpayers of the county, and of course neither of them, nor Mr. Evanson, as long as they are members of the Board, will be in favor of making the yearly levies heavier than is actually necessary.


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