Democratic Sentinel, Volume 17, Number 32, Rensselaer, Jasper County, 25 August 1893 — GRAVEL ROADS. [ARTICLE]

GRAVEL ROADS.

The Board havi ig fixed Sept. 9th, 1893, for the special election, this tune cannot now be changed. Should the voters favor building roads, the letting can bo postponed until such future time as will be most favorable to the tax-payers. The bonds, if any are issued, must be payable, principal and in - terest, on Nov. 15th. The bonds will be in five equal series, bear six j ei cent, interest, and must sell at or above j ar. The letting must be at or below the estimate. Tne proceeds of the bonds can only be paid to the t ontraetor as a special fund. To pay these bonds ell the taxable property of town and township shall be liable pro rata according to its assessed value. Suppose that each series of bonds was $7,000, and the assessed value of property was $17,500 00, then it would require for each SI,OOO of assessed yalue of tax of $5 20 the first; $4,96 for the second; $4,72 for the third; 84,43 for the fourth, and $4.21 for the fifth year, principal and interest. The above statement will enable every voter to ascertain the exact extent of his gravel road tax. — Under this law the expenses are all paid by the county. *