SOUTH DUNEDIN.

Otago Daily Times, Issue 7002, 25 July 1884, Page 2

SOUTH DUNEDIN.

A meeting of the ratepayers of South Dunedin was held in Naumann's Hall last evening for the purpose of discussing the financial position of the borough.

The Mayor (who occupied the chair) read the correspondence between the Council and various persons regarding the proposed loan, w! ich the Council had been unsuccessful^in flouting. He also submitted of the borough finances at the present time. Thiß showed the liabilities (outside'loans) of the municipal account to be £2663; rates uncollected were set down at £943 12s—leaving a deficiency of £1719; whilst the coupons due in October and November were put down at £326 10s. In connection with the water supply the following statement was made: —Overdraft and accounts payable, £1199 ; rates due, £752 • -^deficiency, £416 18s ldd j coupons due Octo' ber, £150.

After discussion, Mr S. Stokes moved ana MrD. Jones seconded—" That a vote of the ratepayers be taken on the question of raising a £10,000 loan, a special rate to be struck to pay the interest of such loan." <■ mur ,4? Pli? BY ™,°?* d as an amendment— "That the Council be requested to take steps to get a bill passed giving them power to strike a separate rate to payoff the overdraft and other liabilities." •

The amendment was put, but only three or four voted for it.

Mr B. Throp, jun., then moved as a further amendment—" That the meeting adjourn for a fortnight to give the Mayor time to make inquiries re consolidation of loans." : : Thiß was oarried, and the meeting dispersed.