The funds at the disposal of the Highway Department are divided as
follows:
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=The State Highway Fund= provides for one-quarter mill tax on the
assessed valuation of the State. This fund amounted to $219,690.98 in
1917; $232,151.39 in 1918 and in 1919 will equal $246,883.47. The money
available in this fund provides a sufficient sum for the salaries and
expenses of the State Highway Department, and the cost of maintaining
State highways which have been constructed or improved. It is provided
also, that with the proceeds of this fund, the Commission may enter into
co-operative agreements with any County for the survey, construction,
improvement or maintenance of any State highway upon such basis or
contribution as may be agreed upon. The Bridge Department is maintained
out of this fund and furnishes designs for structures desired by the
counties.
* * * * *
=The Automobile License Fund.= Under the provision of Section 12,
Chapter 423, Laws of 1917, the Secretary of State is directed to
transfer to an account under the jurisdiction of the State Highway
Commission, the receipts from the automobile license fees, less the cost
of administration. The law provides that these funds be transferred on
April 1 and October 1 of each year. The 1918 receipts from this fund
were $425,000.00 and with the rapid increase of the number of
automobiles, it is expected that this amount will be increased from year
to year. The fund provides for the payment of principal and interest, as
the same shall become due, on the bonded indebtedness of the State of
Oregon, contracted for road purposes under the provisions of the Six
Million Dollar Bonding Act and the State and Federal Road Bonding Act.
The unexpended balance may be expended on such State highway projects as
the Commission approves.
This fund is also used for co-operative work in counties where the Six
Million Dollar Fund may not be used and on State Highways not eligible
for improvement under the Post and Forest Road Acts.
* * * * *
=The Six Million Dollar Road Bond Fund= provides for the issuance of six
million dollars in bonds during the next five years. It provides for the
sale of one million dollars in bonds in 1917; two million dollars in
1918, and the balance as the Commission may think advisable. The primary
purpose of this act was to provide paving on the main highways of the
State, contingent upon the counties preparing the road bed according to
the plans of the State Highway Engineer.
It also provides funds for the grading of the road bed on the Columbia
River Highway in Clatsop, Columbia and Hood River Counties and on the
Pacific Highway in Jackson County.
At this date a total of $2,190,000 par value of bonds have been sold.
* * * * *
=State and Federal Co-operative Road Bonds.= Under the Federal Aid Road
Act there is provided for expenditure by the Federal Government during
the next five years, $1,180,310.85 for the construction of Post Roads in
the State of Oregon and there is also available during the same period
the sum of $638,970.00 for the construction of highways within or partly
within the National Forests of the State. The purpose of this Act is to
meet Federal Aid in an equal amount and under this provision a total of
$1,819,280.85 in bonds is authorized to be issued by the Board of
Control and placed in a special fund to be used in carrying out the
provisions of this Act. A total of $400,000.00 par value of these bonds
have been sold.