ELECTRIC POWER BOARDS.

Hawera & Normanby Star, Volume XLII, Issue XLII, 27 August 1923, Page 5

ELECTRIC POWER BOARDS.

AN AMENDING MEASURE

(iiy Telegraph.—Special to Star.)

n, • .WELLINGTON, Aug. 25. m^ J'S^i ? •*"? °f T^" boun&ry o apro^rtv or at a point Under this section to collect ativ rn+P in respect of that. property EvSy per son liable to pay rate under S w tion shall be entitled to recede f^ of charge f or use on the Zerlnn which the rate ?s levied TSddlv of ' electrical energy equSnt in vSlfe to the total amount of such rate, at a scale of charges from time to time fixed by the board or licensee as the case may be. Boards are to be given power to expend under the heading "un- j authorised" an amount not exceeding ! one per cent, of tlieir gross receipts tor the year, exclusive of loan moneys. Their powers of borrowing by bank overdraft to meet initial losses have been extended, a sliding scale being provided which enables up to 7 per cent of the aggregate capital expenditure to be borrowed at the end of the fourth year; but in the eighth year after the board has commenced to supply electrical energy its overdraft must not exceed the limits prescribed in the Local Bodies' Finances Act. There are other useful machinery clauses, including one which will empower boards to plant trees to meet their future timber requirements.