NEW BRIGHTON.

Press, Volume LVI, Issue 16849, 1 June 1920, Page 7

NEW BRIGHTON.

PROPOSED LOAN OP £52,000.

A public meeting was held in the Joyland Theatre last night, the Mayor (Mr F. Kibblewhite) presiding, for the purpose of hearing and discussing the Council's proposals to raise a loan of £52,000 for the purpose of undertaking improvements throughout the whole of the borough.

The Mayor said the unimproved value of the borough was £250,825._ The loan would be for a period of thirty years, .with interest at oj- per with 1 p:'r cent, sinking fund. The interest, etc., would amount to £3250, and a rate of 3}d in the £ would have to be' levied. The existing loans amounted' to £30,000. The Council was of the opinion that the consolidation of the interest accounts of these loans should now be effected. Tlie amount required annually to pav interest on existing loans was £1563, and a uniform rate of lid in the £ on the unimproved value would provide this. The propose'd new works included part cost of a new bridge, a fire engine, sumps, well, txvfcter yard accommodation, shelters, conveniences, road and footpath formation, channelling, kerbing, etc. Cr. Israolson (chairman of the Works Committee), Cr. Leaver (chairman of the Finance Committee), and Cr. Gamble (chairman of the. Beach Improveent Committe: 1 ) also addressed those assembled at length. On the motion of Mr P. J. Whatman, seconded bv Mr R. Bargrove, it was resolved. "That this meeting of ratepayers of New Brighton heartily supports the Borough Council's loan proposals." On the motion of Mr R. T. Lees, seconded by Mr G. E. Goodwin, it was resolved: "That the scheme set out by the Council for the consolidation of th-a interest accounts meets with the thorough endorsement of this meeting." Both resolutions wer? carried unanimously, as was a hearty vote of thanks to the Mayor and Councillors for the great amount of trouble tliev had gone to in preparing the proposals. At subsequent meetings of ratspavers, held in the north and south of the borough, the proposals met with unanimous approval.