LOAN OR RATES?
CITY ROADING SCHEME. Principal interest in the discussion on the proposed loan for road construction, which three City Councillors and the City Engineer explained to a meeting of Spreydon ratepayers last night, centred in the alternative schemes of financing the,project. Crs. E. H. Andrews and G. R. Hunter and the City Engineer (Mr A. R. Galbraith) showed now necessary a comprehensive policy of road construction was, and argued that the most expeditious way of carrying it out was by means of the loan. Cr. Cooke agreed that the policv was necessary, but said that it should be financed out of revenue. His arguments were answered by the City Engineer. Mr Galbraith admitted that, generally speaking, it was sounder finance to pav for works out of revenue, and declared that if it were possible in this case he would advocate such a procedure for the making of City roads. The rates, however, could not provide for anything like a sufficient length of construction yearly, and steadily increasing maintenance as well. Cr. Cooke's answer was that the rateonyers would have to pay for the roads whichever scheme were adopted, and if thev could not pay for the works out of rates, they could not properly pay interest on the loan.
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Bibliographic details
Press, Volume LXIV, Issue 19376, 31 July 1928, Page 8
Word Count
211LOAN OR RATES? Press, Volume LXIV, Issue 19376, 31 July 1928, Page 8
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