PAEROA IMPROVEMENTS.

New Zealand Herald, Volume LVII, Issue 17392, 12 February 1920, Page 6

PAEROA IMPROVEMENTS.

iIRAINAGE AND ROAD*. 0 ALB OABBIEpj. " lIOAN PROPOSALS XJAfiMEDi ; ; SUk OP £55,000 TO BEBAISiD. (it TttWJ*AKB.—OWM <»WWK*I>«».J PAEROA/ Wednesday el All three seotioa* of-the Borough CoaSa. ii , oil's proposed loan of £56,000 ware car. U ried a* the pott to-day/) The ***•»* V* .»! as follows:-- " ' ..' .Jf : Sewerago.-F6r, 210; ejeiiieV *H h •majority, 166. v_ « / Boading.--For, 207; . against, : ; 46} * majority,- 161, ->'p'- < ' I , Domain ' 1M; • against, 7i {'majority, 113. ';''■•;'"• • There are 530 »oter» oa the roll, ii It fa proposed to expend the; £65,000 a* f; follows:—Sewerage, £42,750 j atrtet \ and * footpath formation, 4DO- « y main' improvement*, £1000. TW sindinnt cjmtemplated i for street work ia the first ■ instalment of a comprehensive scheme,'. « bat: th 0 v other .items are the estimated } > • cost of the. completed Work., Application, * been made to the', 1 valuergeneratfor a < . new valuation ion e the "• unimproved ? Stasia ' at the whole borough. The new valuation 5 will W complete tiout ' the end of March. . * On the 1913 valuation theXuMfflpwved { Value ;w' approximately '£100,000;. but p ';>•'.'••"- Borough Council confidently", estimate* that < the new valuation will show an unim'! j • proved value of £175,000. Por loan pnr- |' poses the rating will be based on the pre-}' :v;•■'•■*■ant?* valuation j' of £100,000.: On each • ' annual '• instalment of say £8000 a special :'} . rate of l>l6d in the £ .will,!* levied *' _* during the proposed currency 0! 36} years. : '[/-'; Provision will be made for,a sinking.fund ' of 1 per cent.' Provision has been made > .;' '-;H for the. first: instalment of . the loan 1 from :>,'. : the State Advances Office at 4J per cent, ;