LOAN PROPOSALS.

Hawke's Bay Tribune, Volume IV, Issue 429, 7 August 1915, Page 3

LOAN PROPOSALS.

TO BE PLACED BEFORE NAPIER It ATI-TAY ERS. A: last night's meeting of the Napier Borough Council it was decided to place the folhxv.ing proposals before tin* ratepayers: -- (1) That the necessary steps lie taken to raise under polls of the ratepayers, the following special loan*, viz:— LOAN No. 1 £*27.50('. ') Electric lighting and supply of power lor the following roads and street*, viz.. Park road. Havelock mail. Battery road. Milton road and leirace. Lucknow teinu Main stric t. I.my road. Elizabeth toad. Breakwater whaif. France road, Spencer road and all the roads and street* in that area known as the Napier South Town District, and tile installation <>l one engim* with gti- producer. ClS.Olhi (Io Tan motor tire engines with equipment mill buihling Cl.tHir ie> Repayment «-t existing overdralt im-ii’-ml for electric light and [lower :ind tr.imwav* v.nrk* £5.50(1 .£27.51 Ml The said three amonnis to be appropriated la the three. purpose* re-pec-tin-Iy.

LOAN No. ‘2 Cm.'MXi. (al Extension <>f tramways along Hasting* street South ti-oni Dickens to Kinross White streci nrd in Station street to eonme t with Thackeray .street, with reconstruction of streets to conform with levels; of the said tracks mid duplication ot existing track and overhead works in Dickons street from Hastings street- to ('live Square awl const ruction of loop lines in existing; tracks: and making “ei-os--over" opposite Po*t Office, and al*<> the purchase of lour trnincars and the installation of one engine with ga* pr.wlmes £3(1.751; H>» Purchasi- ot motor lorry, horses ami dray*, motor iow<»r waggon and train way wa: it sprinkler £3.250 110.000 The said two amounts to l»o appropriated to the two purpose-; rospectively. LOAN No. 3 £37.500. ('onstine-ion ot tramway trom Dickons street to Hospital x i.i Milton roail and Napier terrace with consequential road alterations and construction and acquisition of land tor street widening and extension of car shml and purchase of tive cars .and the installation ot one engine with ga* ptoduior £37.5*1(1 LOAN No. I £37.( N >O. Ci.nstrm ti >n of tramway front tramway depot to hospital via Chaucer and Spem er road-, with nin-e- -■ piential road alterations and con»tniction and acquisition of land ior street widening ami purchase ot three cars and extension «.f ear shed, am! the in-tal-l.itioti of one engine with gas pi calmer £37.1 LOAN No. 5 .£2,i"to. F..r ih.‘ pmp,>-- 01 tunning and metalling road* anil lootways and erecting necessary building* in ami upon the cemetery at Park Bland anti laying out <>i .same a* ami for the pm[lO'es of a cemetery £2.(HM>

(2> That each of the five loan proposals Im- separately voted upon by the ratepayers.

(3) That the inter- -t on each of the live loans i- not to exceed s'. p»-r cent. 1 I) That a sinking Hind of om-diali [mt <x»nt. jmt annum on ear-h loan be pledged and l-e paid on the 1-t S--p--t'-mIH-r in exvi v year.

(.5) That the inff re-t and sinking fund on the several loans he se<-ured by special rates, each made mi (lie whole of th.* united borough, on the following amounts in the .£ on the unimproved rateable xaltte. \:z: - Loan No. 1. 31 -1 *.'<lths <>f a penny in the .£. Loan No. 2, 15-lOOths of a penny in the .£. ‘ Loan No. 3. li-lffOths of a penny in tho .£. Loan N<>. I. 11-UH'.tbs of a penny in the £'. Loan N<>. .’>. l-!sth of a, penny in the £. (iff That each special rate lx* payable yearly in om* sum.

(7) That each loan he repayable on; (O' h .lune. If r 2i. !

<■*l That the co-t of raising each loan and the first year’s interest and sinking luml thereof be paid out of such loan.

The Mayor, in proposing to put the qwMions to tic’ ratepayers. said that he v...uld like it made clear that the coilliei! ’night not be able to carry our all (’••• proposal if pas.c.l, and there wa. an im reasv in the nmnuiacturing owing io the English Government siezing many <u tin- factories. The material might not be i>l>t;iin:iblv. In the advent ot Ihe money market being nnscttli'd. they could call lor tenders, lor one r>|- pe l j|; 1 |... >«.> <>| I iIC proposal'. He thought it was imperative to rairy out the lust p! i.pO'.-d' arnl also No. ■>. with the other-, tin- ratepayer-, mu~t allow th.' council to please thniM-lves in what they d it th.- proposals are i-arii. d. their carrying <-.i:t v. ill depend on wiuiher- the :imter:::l can be obtained ami ii so at what price.

The secretary i.f the Ilnsfings Chandler < f Commerce (Mr. tI. Hartsh’-rn) has receive.l a . ircttl.tr from the Wellington Department of Agri, uh tire. Imlu-fries and t’..m-mi-rce informing the Hastings Cham her that a I'l.iiiiiiiinii-tiii.n nas been reciiv.-.i frci-i his Britannic Majestv's Envoy kxtr.aordiitr.ry .and Minister I’lenipo’entiarv to the Republic of Panama and Costa Rica, in which he states lhai an association hs been formed in Panama for the protection of local commercial interests. The name <>; the body is ’’The Panama A-so-iat i..n of Commerce,” and communi. aliens should be addressed to the secretary of the association. P..nama, Republic of Panama. The secretary of the association is prepared t<> receive and file Dade catalogues ,o that local imp< rt.-is and exporters may have access to them.