CITY’S DEBT £3m
Quarter Of Auckland’s
The Christichurch City Council’s public debt stands at £3,175.861, which is about a quarter of Auckland’s, where the rates required to meet interest are greater than the Cltrirtohurch council’s general rate. “Those who feel envious about 24-storeyed buildings might be reminded of the old saying that everything has to be paid for, and it is clear that Auckland is beginning to draw in its horns a little," said Cr. H. P. Smith, chairman of the council’s finance committee, commenting on the figures. “Personally, I think Christchurch should have borrowed more in the past when money was freer, but it may be of some comfort to the people of Christchurch to know that they are better off than Auckland." Figures produced by the City Treasurer (Mr I* A. G. Rich) show that the public debt is made up as follows: Loans for pensioners' housing, £186.244; general housing, £33,061: water supply, £435.664; abattoirs, £30.600: sewerage, £4062: parks and reserves, £75.700; testing stations, £39.600; bridges. £64.800: reading, £832,018; electricity. £1,034,110; airport, £440.000.
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https://paperspast.natlib.govt.nz/newspapers/CHP19610519.2.188
Bibliographic details
Press, Volume C, Issue 29517, 19 May 1961, Page 16
Word Count
175CITY’S DEBT £3m Press, Volume C, Issue 29517, 19 May 1961, Page 16
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Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
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