THE PROPOSED BOROUGH LOAN OF 55.000.
♦ TO THE EDITOH. Sir,-— Thore seems to be an impression abroad amongst tlio ratepayers tliiit because tlio Council propose to borrow £12,000 over and above tlie present indebtedness of the borough the spocial rato of 2s. in the £, which is offered an security to tho lender, is an additional rale. May I again state that it is nothing of the sorti Thoro will be no more ratos to pay than at present, viz. 2a Gd in the £, Is 8d of which will cover interest on tho .£05,000 and sinking fund of X275 per annum; the balanco, 10(1 in tho £, will bo spent for genornl purposes. The income of the borongh ,s as follows:— Annual income, from all sources, 47500, j interest on .£55,000 at 6 per cent, £2750; sinking fund, £'Z7s— ,£3025; net income. ,£<U75. Ratepayers will see- from the above statement that there is no occasion whatever to increase rates. I trust all those who are favourable to the raisinir of the loan will not neglect to vote nt the proper time, as one-half of the total rate- payers exercising one-half of the J votes, inuot vote or the proposal is not carried. Everyone therefore noijlectin g to vote counts against the loan.— l , am, ic. I'bebjian B, Jackson,
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Bibliographic details
Wanganui Chronicle, Volume XXXVIII, Issue 11939, 24 March 1894, Page 2
Word Count
216THE PROPOSED BOROUGH LOAN OF 55.000. Wanganui Chronicle, Volume XXXVIII, Issue 11939, 24 March 1894, Page 2
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