NEW TOKOMARU WHARF

Poverty Bay Herald, Volume LXIII, Issue 18975, 27 March 1936, Page 4

NEW TOKOMARU WHARF

LOAN POLL NEXT MONTH TOTAL COST OF £23,000 NO RATE ANTICIPATED Application is being made, immediately to the Local Government Loans Board for permission to raise £23,000 ten' renewing the wharf at Tokomaru Bay. A poll of ratepayers will tie held early next month, and it. is hoped to secure the money by June, and have the work commenced under contract by September. Security for the loan will he provision for a special rate of 3/16d in the C over the Tokontaru harbour district, but it is expected that revenue will meet all expenditure and loan charges. Already, the board had authority to spend up to £IOO,OOO, sanction given several years ago, but. only £24,000 was raised. ' The proposed loan of £26,000 probably would be raised through the Public Trustee. The term of the loan applied for would be 20 years at 4] per cent. Application has been made lo the Unemployment Board for a subsidy of 12 per cent on the contract price, and a favourable reply has been received from the board. At "the last, meeting of the hoard, the secretary. Captain S. •!. Plummcr, said that he bad written accepting the board's terms. The secretary also stated that he. believed sufficient lands would be saved during the next 10 years to pay for the concreting of the remainder of (lie wharf when necessary. A letter was received from Mr. A. Gordon Hullqttist, M.P., stating that he would assist all he could in raising Ihe loan.