BALANCE OE LOANS

Evening Post, Volume CVII, Issue 139, 13 June 1924, Page 7

BALANCE OE LOANS

FORMAL AUTHORITY. TO RAIS^

MONEYS

BIG SUM FOR WATER SUPPLY, Formal authority -was .last evening granted by the City Council upon-tha motion of the Mayor, Mr. R. A. Wright, for the raising of the, balance of loans of the 1920 schedule, as follows; Balance of Water 'Supply loan Karon Water .Supply and Drainage . Loan ■ ' - • .< Onslow Water Supply and -Drainage"-. Loan 95 000 Hutt Road Construction Loan """' ™ nnn Milk Supply Loan (5J 52000 Balance of General Improvements Loan 28*425 Hiramar Marine Parade Loan Balance ' (5i per cent., at 97) i s qq £702,SCS

The Mayor said that admittedly the programme was a big one, water supply accounting for £387,943, but' it was to be remembered by councillors and by citizens; too", that the raising of the balance under the heading of water supply would enable the council to carry; through to completion ita supply and re-.' ticulation schemes. „ Once, that 'was done the council would receive increased revenue, and the history of water supply loans in Wellington in ' the past'■ had, been that they paid for themselves. Work was well ahead at Karori arid Osslow, and a etart was also being made from the other end in the laying of tha big main. Pipes for the major works in this'main.laying'would'be. coining to hand in August or thereabouts. A new trencher was being obtained for the laying of the main to Karori, and within another twelve months a big showing would be made. There was no need for alarm over the amount to be Taised, for as soon as the services were through the rates would commence to come in.