BEQUEST TO ROTORUA

New Zealand Herald, Volume LXXIII, Issue 22515, 4 September 1936, Page 13

BEQUEST TO ROTORUA

SUM FOR LIBRARY COUNCIL MAY BUY ESTATE r [BY TELEGRAPH —OWN CORRESPONDENT] ROTORUA, Thursday Additional information made available to the Rotorua Borough Council last evening discloses that tJ»e bequest for library purposes made to the borough under the will of the late Mrs. Elizabeth Ann Seddon- Johnson will reach at least £I7OO, but the bequest will ultimately bo of considerably more value to the borough if a recommendation of the Finance Committee that the whole of the estate be purchased by the council is adopted when the council gives final consideration to the matter.

Under the terms of the will the entire residue of the estate, after payment of certain bequests, is to be paid to the council for library purposes. The committee recommended that the whole property included in the estate should be purchased by the council at the Government valuation; that authority should bo sought to raise by way of special order a special loan to provide for the purchase price, and that in the event of the property being taken over the revenue after payment of annual charges should be set aside for all time for library purposes. If this course was adopted, the property, after payment of annual charges, would produce between £250 and £3OO per annum. If. 011 the other hand, the council decided not to take over the property, it was estimated that the residue available would be between £ISOO and £I6OO.

The Mayor, Mr. T. Jackson, expressed warm appreciation of the bequest, which is the first the borough has received. Mr. C. 0. Coleman pointed out that after the loan had been liquidated the council would have an annual endowment of at least £6OO. Further details of tho present rentals of the property and valuations were discussed by the council in committee, and upon resuming in open council the Mayor announced that it had been decided that a report on the position relating to the disposal of the estate should be circulated to members of the council and thnt the final decision should be made at a special meeting to be called for the purpose.