PETONE RATES

Evening Post, Volume CXVII, Issue 125, 29 May 1934, Page 13

PETONE RATES

STATEMENT BY MAYOR

JACKSON STREET WIDENING

"The estimates provide for the collection of. the same amount "of rates as .last year, but will be levied on a 75 per cent, basis of the valuations in conformity with the Land Valuation Amendment Act, 1933,;); said the Mayor (■Mr.-.-P. McKenzie),.. at last evening's meeting of the Petone^Borough CounejUV*-^. ":" ■■":■"'

'■Provision had been made for a man to 'look; after all"the reserves outside the {main Eecreation: vGround and to take charge of a tree-pldnting scheme, said .the Mayor. "Approximately £1100 more than last. yeawliWOuld be spent oil-street niaintenaneei and improvements and a; schedule"'of; works recommended by the works^committee after a' (iareful inspection ' arid consideration of the requirements of the various parts of the borough had been adopted. A reinstatement of 5 per cent, of the wages and cuts had been made and grants-andj subsidies were on t|ie same, basis, as last yeiar. ;

"Provision had been-made for the putting aside of '■.£1000';.' towards . the amount required for; Jackson Street widening, stated Mr. McKeuzie. The council had in mind that the^ balance Of the Jackson Street widening, loan, amounting to *& 29,000, would' under normal circumstances nave been., raised and the amount of the annual charges would have to be found out of rates. By financing out of revenue, these annual charges would, be saved, representing a considerable sum over the period for which the loan was raised. ■ There was an increase in the hospital.levy of £99, but it was not thought necessary to increase the" rate, as it was hoped that the arrears of rates collected would help to cover this amount. By the completion of the loans conversion, the finances had been piit upon a sound basis. The whole of the present loan indebtedness would bo wiped out in twenty-five years' time, and a saving of up to £260 per annum in the annual charge had been made.

"In conclusion," said Mr. McKenzie, "I consider that the pedp'ie of the town are to be congratulated upon the sound position of the borough finances."

The estimate's were confirmed at the meeting. .