GREATER GISBORNE.

Gisborne Times, Volume XLIX, Issue 4768, 16 January 1918, Page 6

GREATER GISBORNE.

MERGING OF TE HAPARA.

ADJUSTING FINANCES.

For the purpose of adusting finances betAveen the Cook County Council and the Borough Council with regard to that portion of Te Hapara which has been recently merged into the Borough, a conference of Borough and County Council representatives Avas held yesterday afternoon. Thero were present: Crs. G. Reynolds and G. E. Jones, Cook County; the Mayor, Crs. Oman, Ball and Tucker, Borough Council. A statement Avas submitted shoAving the financial portion : —Total value of Cook County, £7,300,724; total value of portion merged, £114,460, or 1-64-th; total value of Gisborne riding, £1,118,857; value of portion merged, £114,460, or 1-lOtli. The proportion of the value of property (real and personal) to be paid to the Borough, £336 18s 2d; proportion of rates to be paid to tlie Borough £l9O 10s 2d; total £527 8s 4d. Liabilities and engagements of the County to become liabilities and engagements of the Borough, £341 17s 3d; also contingent liabilities (charges on loans), £23 18s Id per year until the expiration of the various loans ranging from 14 to years. _ The present value of the contingent liabilities Avas shown at £371 12s, making a total liability to the Borough of £713 9s 3d. Amount due to Borough £527 8s 4d, leaving balance in. favor of Cook County of £lB6 Os lid. If the Borough does not pay the annual charges in a lump sum (£371 12s) then there is a balance in favor of the Borough of £lB5 11s 1. but the Borough Avould have to pay £23 18s Id annually until the expiration of the loans. It Avas agreed to pay the annual sum of £23, and to levy a rate on the portion merged. Upon the suggestion of Or. Reynolds it avus agreed that the Borough should write to the Cook County AA’ith regard to an offer in respect to the metalling of Lytton Road. Mr W. Lovcjl, clerk in charge or the Valuation Department, Gisborne, has forwarded tlie Borough Council valuation figures for the portion of district of Te Hapara just merged into the Borough, correct as at March, 31, 1917. The folloAving Avas the total valuation : —Rateable lands in European occupation capital value. £108,313; unimproved value, £64,315; improvements. £43,998 ; in Native occupation capital value, £3150; unimproved value, £3045; improvements, £105; exempt and non-rateable Crown land, Te Hapara Workers’ Settlement, unoccupied section, capital value £450; unimproved value. £450; gross total capital value. £111,913; unimproA r ed value, £67,810; improvements, £44,103.