Evening Republican, Volume 15, Number 34, Rensselaer, Jasper County, 9 February 1911 — Bill Introduced to Equalize Rate of Road Bond Interest. [ARTICLE]

Bill Introduced to Equalize Rate of Road Bond Interest.

Representative Berry has introduced a bill to limit interest to 5 per cent ou all count? bonds issued for road building. The purpose of the bill is to create a uniform rate of interest on ail road bonds in the state, thereby protecting counties the bonds of which draw a low rate of interest “Several counties have Issued bonds drawing Interest at 5 per cent, which have met with a ready sale, while other bonds issued at a lower rate have accumulated because of the low rate," said Mr. Berry. “A bill has been introduced in the House to exempt road bonds from taxation and the reduction of the interest rate follows as an equalization."