Greymouth Evening Star. AND BRUNNERTON ADVOCATE. FRIDAY, MARCH 23, 1928. BOROUGH’S LARGE LOAN

Greymouth Evening Star, 23 March 1928, Page 6

Greymouth Evening Star. AND BRUNNERTON ADVOCATE. FRIDAY, MARCH 23, 1928. BOROUGH’S LARGE LOAN

prominent Italian seismologist predicts that serious earthquakes will take place to-day and to-morrow, and whether this proves true or otherwise, it is certain that many Greymouth ratepayers will receive a shock when they learn of the loan proposals advanced by the Borough Council last evening. The estimated, amount required is about £lOO,OOO, a sum in excess of tlie already large debt incurred by I he Borough, the interest and re-' payment of which help to make the annual rate-demands high. It is certain that if the new expenditure is approved rate-payments must increase, and that fact alone will create opposition to the proposals. 11 is to be hoped, however, that borough residents will look on both sides of the question, and reflect on what they will get, as well as what they will have to pay. One hundred thousand pounds is a large amount to add to borough indebtedness, but the installation of a modern sewerage scheme and the improvement in the borough water supply are important assets on the credit side. It cannot be intelligently denied that the time is overdue for a progressive and growing Greymouth to have modern sewerage, and if the ratepayers do aoi accept this responsibility voluntarily, the Health Department has power to force it on them. The Loans t'ommitlee, last evening, merely presmiled a report for eonsideral ion, not only by the ('oiincillors but by those they represent. it is the duty of all townsmen to give llu* matter adequate thought, and not let an excess of enthusiasm tieclaim the proposals in a hurry, nor permit prejudice or mean -outlook to condemn the proposals equally quickly. 'l'he engineering details and the financial aspects must be decided by experts. The Local Loans Board will have to be convinced of the necessity for the expenditure before any loan can be sanctioned. , After ail the consideration is given to the technical part of the scheme, there ought 1o be no serious error in the general plans. When the loan proposals are definitely put before the ratepayers, the fullest information will have to be supplied as to the terms of

raising and repaying the money, and the annual cost to the ratepayers. Too much stress should not be laid on the improved selling value of properties when sewerage is installed. Most ratepayers have no intention of selling, and what concerns them most is how much extra will be their annual rate demands. Revaluation may be another misplaced argument. Ratepayers realise that revaluation will be at their expense, and that most alterations, if not all, ‘will be to increase the official valuation, and therefore io increase the rates to be paid. On general principles there is unlikely to bo serious opposition to a sewerage loan. The real cpiest ion Io be decided is can the ratepayers as a class afford to become responsible for an additional £lOO,OOO public debt, especially as the Power Board is asking for a similar amount, the bulk of which must come from Greymouth people. The Borough needs modern sewerage and other conveniences, but ii will no! be surprising if the opposition to the loan proposals is far from negligible. Meanwhile, lei the-subject be considered with ealm judgment, and credit given to those present-day Councillors endeavouring to make a better borough.