Chch City owes $58.6M in bills
Christchurch City owes $58.6 million in public debt. Offset against this are accumulated sinking funds for repayment of loans of $3,233,070. They reduce the actual debt to 414 144 Excluding the council’s self-financing electricty the net debt is $43,670,739. That sum equals 11 per cent of the city’s assets and 41 per cent of the council’s turnover. With electricity included the figures are 12.5 per cent of assets and 20.7 per cent of turnover. Among the largest debts are electricity’s $15.3M, S9.TM for streets and\ bridges, $7.3M for a recla-'-?
mation " area loan, S4M each for the Central Public Library, elderly person’s housing, and the Metropolitan Refuse Scheme, $3.3M for parking buildings and almost S2M for the Civic Offices. More than SIM is outstanding for each of Queen Elizabeth II Park, reserves, and the Christchurch Town Hall. Lesser debts are $BBO,OOO for waterworks, $BOO,OOO for the financial computer, $690,000 for community housing loans, $170,000 for neighbourhood improvement, $96,000 for the dog shelter, $16,000 for owneroccupier council housing fc and $6OOO for community * services.
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Press, 23 May 1989, Page 8
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179Chch City owes $58.6M in bills Press, 23 May 1989, Page 8
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