ATHLETIC PARK.

Dominion, Volume 1, Issue 216, 5 June 1908, Page 7

ATHLETIC PARK.

PROPOSED MUNICIPAL ACQUIRE WENT. I REPORT TO COUNCIL. Tho Baths and City Reserves Committee of the City Council presented the following special report last evening on' the subject of tlio proposed acquirement of tho' Athletic Park. Consideration of tho report was deferred until next meeting. The committee present herewith further information with reference to tlio proposed acquirement of tho. Athletic Park, and they havo to roport that they had had an interview with tho Public (Trustee, and asked him upon what terms the City. Council could acquiro the freohold of tho Native Reserve, now leased to tho Athletic Park Company. Mr. Poynton states that ho is prepared to co-operato with the City Solicitor in promoting a Bill to bo introduced to the next session of Parlitimen, for tho purchaso by the city of tho, Athletic Park on the following terras: — ,* ' (a) To acquiro tlio Nativo Reserve freehold, £15,000. ; (b) To accept as payment, City Council debentures, liaving a currency of, say, 37 years. (c) One per cent, sinking fund to be added to-tho interest. (d) Thoro shall bo a clauso inserted in tho Bill to authoriso tho council to mako a cliargo to tho public for tho use of tho park. (c) Tho cost to the city in acquiring tho pa.rk would bo:—Freehold, £15,000; lessees' interest, £4550 j total, £19,550. Receipts.—Receipts from last year, total gato money, £2367 13s. Gd.; amount returned to various clubs, £1214 18s. 7d.; net receipts, £1152 19s. lid.; receipts from grandstand, £55 195.; other rentals, £109 10s.; liett incomo, £1823 Bs. lid.