HUTT ROAD PAVING

Evening Post, Volume CXIII, Issue 126, 1 June 1927, Page 10

HUTT ROAD PAVING

PROPOSED EXTENSION LOAN

CAN REVENUE CARRY THE

BURDEN?

Referring to-day to the proposals discussed at the meeting of the City and Suburban Highways Board, yesterday, Mr. H. D. Bennett stated that the suggestions made were rather in the nature of placing before the board estimates of what the requirements of the future would be. The sum of £100,000, he said, would provide for completing all the roads detailed in. the schedule as well as all those not actually in the schedule of the Act, but.nevertheless, brought under the control of the board by the Act of 1924. In addition the cost of widening the Ciiy-Petone pavement by eight feet on each side was also provided for in that- amount. It wa a necessary, stated Mr. Bennett, to comply with the request of the City Solicitor, who was the responsible officer for preparing local legislative measures, to specify the nature of cpntemplteed legislation within, a certain limited time in accordance with Parliamentary regulations.' The ..resolu-. tion adopted yesterday, while enabling this to be done, but not actually, commit the board to anything definite. The board mil now require to be satisfied as to its ability under existing conditions to carry an additional, loan of £100,000. In discussing the position generally yesterday, he had stated that after providing interest and sinking fund on loans there would be something around £6000 which would be available as extra sinking fund. He wanted to make it clear that such a surplus was calculated on the basis, of the loans being as they are at present, and not with the proposed extra burden. He had not made that point clear. The revenue of the board would- certainly enable it to accept an additional loan, but speaking, quite candidly, unless the revenue was increased it would not stand the annual charges of so big a sum. The difficulty would 'be to accurately assess the . value of motorists' fees for the future. The progressive variation in this item is shown as lows:—----RECEIPTS PROM MOTO3ISTS' FEES. First year £8,600 Second year 11,800 ' Third year w 13,445 Fourth year ......... 14,400 Fifth year (estimated) 15,000 ... . ■With the fixed contributions from local bodies (now £5000) increased with the extra lengths to £6000, the present revenue would not, obviously, provide for the requirements of loans aggregating £300,000. From what he could see of it the board's present revenue taken as a basis would be about £4000 short. It would, therefore,:be necessary to consider the following alternatives: ■ : '.: ■■'■'' ' 1. "Whether a sum smaller than £100,000 should be raised at present 2. Would it be wise to anticipate increased revenue from fees.. 3. And increase motorists' fees by 10s per car and thereby, also, shorten the life of the loan. : 4. Extra contributions from .local bodies. ••■ i Speaking .as an individual and a motorist, Mr. Bennett stated in conclusion that he would prefer the third alternative. Ho was quite certain that motorists would willingly pay the extra 10s per year. For even if the registrations continued its ever-increasing progress upwards the extra, money would go into a big "sinkihg"fund":pb6i and so shorten the life of the loans and incidentally hasten, the end of paying fees at all. ■■.•'.'....■