DRAINAGE DEBT

Auckland Star, Volume LXXIV, Issue 123, 26 May 1943, Page 4

DRAINAGE DEBT

CHANGES REVIEWED

LOCAL BODY LEVIES

In a review of finances at a meeting of the Auckland and Suburban Drainage Board this afternoon the chairman, Mr. Allum, said that during last financial year a loan of £25,000 was repaid in London, and other loan debentures of a total value of £10,353 were redeemed. The total loan indebtedness of the board was increased by £8148, to a totalling £65,141 were held on behalf totalling 65,141 were held on behalf of the board, making a net total loan indebtedness of £466,321 in respect of the board's main drainage system and stormwater drainage, which might reasonably be valued at £700,000, on the uasls of present-day costs.

In a report presented it was stated that contributions payable for 1943-44 were: Auckland City, £36,932; Mount Eden, £3785; Mount Albert, £3888; -Newmarket, £1136; One Tree Hill, £1936; Mount Roskill, £657; total, £48,336.

The rateable capital values, as compared with the figures for the previous year, were higher, as follows: Auckland City, £1,052,256; Mount Eden, £96,327; Mount Albert, £195,293; Newmarket, £29,768; One Tree Hill, £120,414; Mount Roskill, £272,770; the total for the drainage district being higher by £1,766,828.

Contributions, as compared with the figures for the previous year, were higher as follows: Auckland City, £916; Mount Eden, £85; Mount Albert, £160; Newmarket, £26; One Tree Hill, £97; Mount Roskill, £209.