TRANSPORT RATES
Increased Levy This Year
£141,306 NEEDED The Christchurch Transport Board will collect more from the ratepayers this year than last year. In fixing its rates yesterday, the board decided on special rates to produce £129,264, compared with £110,278 last year, and a general rate to produce £12,042. Last year there was no general rate. The rates, which the board will confirm at a special meeting on July 11, are lower—a general rate of .0216605 d in the £ of capital value, and a special rate of .2325126d —than last year, when the rate was .3469193 d but the capital value of the board’s district has increased from £77,903,570 to £135,526,040. Comfaenting on the rates, the board’s chairman (Mr C. C. Holland) said provision had to be made for interest and sinking fund on the old tramway loans, although the trams had been replaced. The original tramway loans were arranged to mature in 1951 and 1952, but during the 1930’s the board rearranged loans and extended the period of most of them for 10 years. Until 1962, the board was faced with annual charges on those loans, and this year they amounted to about £50,000. There was a substantial reduction of the loans going on all the time. The summary of estimates was as follows: Expenditure £ Traffic expenses, including wages of traffic staff, cleaning, and oiling buses, uniforms, etc. .. 292.851 Repairs and maintenance of vehicles, overhead, plant and buildings .. .. 126,742
Power expenses .. 42,886 General expenses, including rates and taxes, printing and stationery, advertising, accident compensation, fire and other insurances, registration and fees for buses, employees’ superannuation, and office salaries, etc. ... .. 94,080 Interest .. .. .. 38,030 Sinking fund .. .. .. 92,959 Fire and accident reserve 3,343 690,891 Receipts Estimated revenue for the year 549,585 Special rates for interest and sinking fund (under Section 35,.Christchurch Tramway Act, 1923) .. .. 129,264 Additional sum required .. .. 12,042 690,891
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Bibliographic details
Press, Volume XCI, Issue 27679, 8 June 1955, Page 12
Word Count
308TRANSPORT RATES Press, Volume XCI, Issue 27679, 8 June 1955, Page 12
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