Uniform Road Financing A North Carolina Plan for Roads
A North Carolina address argues for a national and state funded uniform road system. The State Aid Road Bill would let counties and townships borrow through state bonds at 4 percent, repaid by 5 percent interest from taxes, with a sinking fund to retire bonds in 41 years. Strong safeguards protect the state while promoting statewide road improvement without local debt burdens.
MENTIONED IN THIS ARTICLE
North Carolina
England
America
United States
States
General Assembly
Plan Lets Counties Share 400000 Bond Funds For Road Loans
North Carolina would issue 400000 in 4 percent state bonds to back 5 percent county and township road bonds. If applications exceed 400000, funds are apportioned pro rata. if less, only actual applications are issued. Surplus from the 1 percent sinking fund offsets future bond needs, reducing each semiannual issue and saving millions.
MENTIONED IN THIS ARTICLE
North Carolina
Mecklenburg County
Also Mentioned on This Page
D. M. Clark
Greenville
N. C
Evers
Iggue
Henry B. Warner
The
North Carolina Good Roads Association
Wilmington, N. C