FITZHERBERT BRIDGE.
KAIItANGA’S SHARE OF COST. TO BE RAISED BY LOAN. In accordance with notice of motion given at the last meeting of the Kairange County Council, Cr. M. A. Moody moved at yesterday’s monthly meeting that the previous resolution -—that the financing of the council’s share of the new Fitzherbert bridge be done out of revenue and reserves over a period of 10 years—he rescinded. Cr. Moody, in support of his motion, stated that at no time more than the present did the ratepayer require relief. ' Cr. Voss seconded the motion. Cr. Hopcroft: What will it cost us in doing the work by way of a loan? The clerk: I have been informed that it will not be possible to secure money under 4i per cent, per annum, with a sinking fund of 1J per cent. Over a period of 36J years this would mean that the county would have to find £302 10s per annum, and of that sum the Taonui riding would find £lsl. After the reading of an opinion from the county’s solicitor advising the procedure open to the council in respect j to finding its share of the cost of thel bridge, the motion to rescind the original motion on the books was put and carried, the clerk being instructed to raise a loan of £5500 to meet the council’s share of the cost.
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https://paperspast.natlib.govt.nz/newspapers/MS19330614.2.111
Bibliographic details
Manawatu Standard, Volume LIII, Issue 167, 14 June 1933, Page 11
Word Count
229FITZHERBERT BRIDGE. Manawatu Standard, Volume LIII, Issue 167, 14 June 1933, Page 11
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