Page 10 Advertisements Column 2

Auckland Star, Volume L, Issue 137, 10 June 1919, Page 10

CORPORATION NOTICES. i i piTT OF- AUCKLAND, f 7 mRAMWAY TJOLU TyEDNESDAY. TUNE -J -J i : rpo rpiiE tjatepayers. THE COUNCIL HOLDS AN OPTION OF PURCHASE OF THE BUSINESS OF THE TRAMWAY COMPANY IX AUCKLAND. THIS OPTION EXPIRES ON JUNE 30, mm: THEREUNDER AT ANYTIME PRIOR TO OR UPON THAT , DATE THE COUNCIL MAY NOTIFY THE COMPANY OF ITS DECISION TO PURCHASE THE TRAMWAY UNDERTAKING IX TERMS OF THE OPTION. I : THE QUESTION OF OBTAINING THE CONSENT TO THE ASSIGNMENT OF THE LOCAL AUTHORITIES THROUGH WHOSE DISTRICTS THE SERVICE RUNS DEVOLVES UPON THE COMPANY. THIS HAS BEEN APPLIED FOR BY THE COMPANY. WHICH HAS BEEN NOTIFIED THAT THE COUNCIL IS WILLING TO COVF.XAXT TO DISCHARGE ALL THE OBLIGATIONS UNDER THE RESPECTIVE DEEDS, AXD ALSO TO CONTIXUE ALL EXISTING CONCESSION'S OR AGREEMEXTS WITH THE LOCAL AUTHORITIES IX THE TERMS IX WHICH TIIKY WERE GRANTED. THE PURCHASE BY THE COUNCIL IN THE TERMS PROPOSED CAXN'OT BE EFFECTED WITHOUT THE LOCAL BODIES CONSEXTIXG TO THE ASSIGXMEXT. ALT. LEGAL FORMALITIES HAVE BEEN COMPLIED WITH, THE CONSENT OF THE MINISTER FOR FINANCE TJNDER ; THE WAR REGULATIONS HAS BEEN OBTAINED, AND THE NECESSARY ORDER-IN-COUXCIL HAS BEEN SECURED, AUTHOR- - ISIXG THE DEBEXTURE ISSUE. THERE ARE, LOCALLY, ONLY ; TWO MATTERS LEFT, NAMELY: (ai THE APPROVAL OF THE CITY RATEPAYERS AT THE POLL OX WEDNESDAY. (b) THE APPROVAL OF THE LOCAL AUTHORITIES TO THE PROPOSED ASSIGXMEXT. THE CHIEF POIXTS TO BE EMPHASISED FOR THE IXFORMATION OF RATEPAYERS ARE: (1) THE PURCHASE PRICE FOR THE WHOLE TRAMWAY j SYSTEM AS A GOING CON- : CERX IS £1,143,750 (SUBJECT ; TO SMALL ADJXTSTMEXTS). \ THE WHOLE OF THIS WILL i BE PAID FOR BY g PER CENT. AND Oi PER CENT. 21 YEARS' CURRENCY DEBENTURES. XOTE. — THIS 'HAS BEEN SPECIALLY INVESTIGATED AND FAVOURABLY REPORTED UPON' BY MR. WM. FERGUSON, C.E., OF WELLINGTON. (SEE MR. FERGUSON'S REPORT PUBLISHED IMAY ."(>. 1919.) (2) THE REVENUE {WITHOUT ANY INCREASE IN FARES UNDER MUNICIPAL OWNERSHIP) IS ASCERTAINED TO UK SUFFICIENT. AND MAY REASONABLY BE EXPECTED IX THE FUTURE TO PROVIDE AN ADEQUATE SUM TO COVER INTEREST ON DEBENTURES, MEET SINKING FUND AND OTHER CHARGES. THE SERVICES. IN THESE CIRCUMSTANCES, UNDER MUNICIPAL OWNERSHIP SHOULD BE MAINTAINED WITHOUT ANY CHARGE UPON THE RATEPAYERS. (VIDE MR. FERGUSON'S REPORT.) (.11 THE DEEDS OF DELEGATION - AND ANY CONCESSIONS TO THE LOCAL BODIES IN THE EVENT OF THE PURCHASE BEING COMPLETED, WILL BE ACCEPTED IN TERMS THEREOF, BUT NO ADDITIONAL OBLIGATION IN CONNECTION WITH THE PROPOSED PURCHASE CANBE CONSIDERED BY THE COUNCIL. FINALLY. THE COUNCIL IS OF OPINION THAT, BEINt; THE r PRINCIPAL LOCAL AUTHORITY J CONCERNED. THERE DEVOLVES A DUTY UPON IT TO I ADVANCE THE PUBLIC INTEREST IN CONNECTION WITH I Sl ' r H AN IMPORTANT SERVICE 1 AS THE TRAMWAY SYSTEM OF 1 ATCKLAXD. OX T.UE UROOCDS RECITED ABOVE ANr) KOR OTHER REASON'S WHICH HAVE PREVIOUSLY Bm - U H \\ L XOUNCED, the COTNCIIi SEEKS THE ENDORSEMENT OF - Pnrr PO " CX AT T <>-MORROT'S D l ULL - I J. H. q™». d 1. MAYOR. O JUNE 10, 19X3. Mo