WELLINGTON SHOW

New Zealand Times, Volume LIII, Issue 12608, 19 November 1926, Page 9

WELLINGTON SHOW

. .... IMPORTANT SIP PJU) w CITY (sl|NC{l RETAILS PQSKIQN A?t qf REQUIRfP, Consequent upon the decision qf tlif WelKngtop City G«”K ci fc erect buildfflgf m ft* shew; wjH 'RPf ? < ? FW* to -,<R secured- The couuca* "mW* l position perfectly nfiw that >t ? 7 ouM fot be r ? debenture holders ul H«9aliocia< tion’a scheme, <t n d * tlftem*" 4 to this effect is to he made-onr the face of each debenture* '

The council arrived at its decision afts? a lqngthy discussiop in committee, trow the following egWiSent subfiuttou to? approval w #.'W|»%swnwpointed ■, The council wiH at the nex% session of ParHemeht prqmpte! legislation to give efifect to the 'prcjvfsiqna, .qf this arrangement. > • . The co uncil will permit ftr’Wwto? Show Association with moneys provided her the association to oenstrnct eu exhibiting hall and grounds m m area between 4 and 6 acres qf the town belt, near Sutohispn read. AH buildings shall he erected m conformity withth® plea s.nhmitted. to and approved by the council or. in conformity with snqh altered plan at the council may hereafter approve,. All excavation works and laying-out of grounds, fencing and other collateral work shall he constructed and carried out in accordance with plans approved By the council, and to. the satisfaction of the council, The aouncil shall he under no financial or contractual obligations in respect of apy works carried out on the site. FINANCE All work to be carried out shell he done by contract with the association, approved after execution by the council under seal. No contract shall he entered into by the association or approved by the ouncil unless the . project is properly and completely financed by the association. The only right of occupation given to the association will he the right to use the buildings and grounds for entertainment purposes pn IQO successive days in each year, and an other occasions the council shall permit. The council shall subject to the rights given under this clause, have the right to use the building, free of charge, on the other days of the year, subject to the following conditions:—, That UP shews or exhibition whioh are in competition with the functions of flie association shall be permitted by the corporation without they consent of the association, but that the corporation shall be the sole judge as to which of such shows or exhibitions is in competition. That if the council makes any charge r the use of the buildings pr grounds at aff(y time when it }b not in use by the association, the net profits shall be devoted to repayment of principal moneys borrowed under this arrangement by the association in connection with contracts for the works authorised until aU principal moneys are repaid. COUNCIL* FIXES CHARGES That the charges to he made for use of the building shall be' fixed by the council. That the association shall use not less than £SOOO of the funds to its credit op August 31st. 1826. for the purposes ef the works authorised under this arrangement. That until all moneys borrowed by the association under this arrangement have beep repaid all revenue received b.v the association shall, from and after this arrangement has received 1

statutory approval, be applied as follows : '

‘first: In pm,Sting the ordinary expenses of' th® association, including expenses of management, repair of building, maintenance of grounds, furniture, 'fittings, ptc.- . Secondly: In meeting thp interest on any moneys not exceeding £42;00(X bprrpwed by the association sit a rate of interest pot exceeding 8 per pent, per annum.

Thirdly; fo parrying out any contracts or works authorised by arrangement’. Fourthly: In making provision for the meeting of the principal moneys borrowed at the date of maturity of loapis by sinking funds ox. other! forms of investment. CONTROL. That the control of the building and f punas shall, be vested in tiie council, ut that the council shall have, power to delegate all its functions, including the appointment of mapbger, staff agents- and ffinfilojees to a committee, on which committee two members shall be councillors appointed By th e council, and the rest shall hp persons appointed by the council on the nomination Q i the association, hut that the council shall not he bound to appoint any such nominee and may, ‘if it thinks fit, remove any member of the committee. That the council shall hare the right to fix charges for admission by resolution, and that if the ccjuncil delegates its functions to such committee, such committee shall have the right to fix such chargee with the approval of the council. That afitpr all moneys borrowed by the association under this arrangement have been paid off. the following provisions shall apply:—: revenue The buildings and grounds constructed under this arrangement shall Be insured, jpqintaiged and repaired by the association at the expense of the association, bn* *hiw the association shall be under no other obligation fn respect of the building. The corporation may retain any moneys received By it for the use of lie ground ox buildings at times when the same are not allocated to the use of the association, such moneys shall b.e expended only for the purposes of the city’s recreation reserves.” The council derided that the hasis pf the agreement as submitted be ap■vedT and that no steps be taken to give effect to the proposals until such time as legislative authority was obtained, and that all debentures contain on their face a statement to the effect that the debenture holders will have no claims upon thp council or its revenue, the above provisions to he embodied with the other arrangements in the Bill. The council also passed a resolution expressing the opinion that the committee of the association should raise at least £IO,OOO of free money apart from the debenture money before embarking upon the scheme. The lay-out and maintenance of grounds are to be under the general supervision of the Director ef Parks and Reserves.