ECONOMIC StTEVEYS OF COUNTY HIGHWAY IMPEOVEMEIsT. 37 



The county is located in the extreme southwestern corner of the 

 State, at the eastern base of the Cumberland Mountains, and has an 

 area of 433 square miles. The topography varies from gently rolluig 

 to mountainous. The county is well watered by momitain streams 

 and the soil is very fertile. About half of the area of the county is in 

 cultivation and produces good crops of wheat, oats, corn, rye, pota- 

 toes, sorghum cane, hay, fruits, etc. Much of the land formerly 

 devoted to the production of grain has, in recent years, been converted 

 into grazing land, and cattle are now fattened for export on the blue- 

 grass pastures without gram feeding. There are several tracts of 

 standing timber. 



The population in 1910 was 23,840. There are no cities or large 

 towns in the county, and the county seat, Jonesville, is 5.6 miles from 

 Ben Hur, the nearest railroad station. 



As the bonds were voted late in 1910, the economic studies were 

 begun in March, 1911, and continued in March, 1912, May, 1913, 

 and May, 1914. 



HOW THE IMPROVEMENT WAS FINANCED. 



The bonds were issued by districts as follows: 



Rose Hill district. |65, 000 



Jonesville district 89, 000 



Rocky Station district 100, 000 



Yokum Station district 110, 000 



Total 364, 000 



As the bond election failed to carry in White Shoals district, no 

 bonds were chargeable to that district. Thebondswere dated January 

 2, 1911, carried 5^ per cent interest, and were sold at a premium of 

 2 per cent, which amounted to $7,280. The deferred serial method 

 was followed, and the bonds were made payable as follows: January 

 1, 1916, $14,000; January 1, 1917, and thereafter to January 1, 1930, 

 $15,000; January 1, 1931, to January 1, 1937, $20,000. An annual 

 tax levy to pay interest on the bonds and retire $14,000 on January 

 1, 1916, should raise $114,100 during 1911 to 1915, mclusive, or "an 

 average of $22,820 per annum. Thereafter to pay interest and 

 $15,000 each year there would be required an average of $28,887.50 

 per annum to January 1, 1930, and an average of $24,400 per annum 

 after that date for seven annual payments of $20,000 each and 

 interest. An examination of the steps already taken for the pay- 

 ment of interest and principal shows that the $14,000 due January 

 1, 1916, has been paid and that the present rate of taxation appears 

 to be sufficient to pay interest and the annual payments on prin- 

 cipal as they become due^ In 1913- the rates for these purposes 

 were 65 cents in Rose Hill, Rocky Station, and Yokum Station dis- 

 tricts, and 75 cents in Jonesville district, and produced about $28,200. 



