NEW BOROUGH LOANS.

Wanganui Chronicle, Volume L, Issue 12587, 17 August 1910, Page 5

NEW BOROUGH LOANS.

£30,000 TO BE RAISED

At tli'.>- Borough Council meeting last evening the following report of the Works Committee re tho proposed loan of £30 3 000 was read:— Tho Committee has considered the schedule of the ; various works required, and recommend that a loan of £30,000 be taken over the whole borough, and to be expended as folloAvs:— Water Mains : £4,159 Road formation 5,940 Footpaths' 3.267, Drainage 2,377 Contingencies 1,757 Taylorville bank protection 5,500 Reservoir at Westmere .... 6,000 New baths 1,000 Total .......... £30,000 -^ The allocation of the ■ amounts to be Expended in the new districts is in proportion io the respective valuation to that of the borough proper, which are : Borough proper, £101,500 ; St. John's. £6,750;- Aramoho, £1Q,500; ODurietown, £6,250.

The committee .recommends that a provisional application be made for a loan from the Skate Guaranteed Advances Board, but should the loan be raised outside the Board a sinking fund of 2 per cent, be created.

The following;' are the total amounts which each district will receive from the loan on behalf of water mains, road formation, footpaths, drainase, and t«nt:ne rencies: Borough, £14.720; St. John's," £797 • Aramoho, £1245 ; Durietown, £738: The Mayor moved the adoption of the reoort. In dome so he stated that ifc had. been thought better, after considering the matter, to raise one loan for the work instead of separate' ones. In a number of new streets drains and water mains still had to be laid, and footbaths formed: • while oihw streets, as. for instance, Tauno Quay Extension, had .to be ffrhied. New ■ baths were t"> ha erected, on the recommendation of the Baths Committee, • who considered that the tint© had come when -Wanstan'd should have separate- baths for women and men. The Mayor said the lenn would cover all the work that would he necessary to be done for many years to come. Ho did not anticipate that all tho money should be raised at once, but should be spread over five to 10 years. It would be raised at the rate of £2000 or £3000 a year. The work to be done was all new work, arid permanent. The loan would be Raised <m tho valuation of the borougll, which included the districts recently annexed, and it was only fair that money should bo spent in those districts in proportion to the valuation. Each district would, however, have to raise a •spacial loan for drainage, and waterworks systems. He thought the committee had done wisely in recommending the raising, .of the loan.

Or. Spriggens seconded the motion. ■ Or Burgess said he would like councillors to I>9 assured that no money would h» spent on .temporary works._ The Mayor assured him that this ■would be so. It was «11 absolutely new

•.\r/rk, not Irenewal • He added that the proposal would be submitted to the public at the same time as the irnm extension and bridge loans, and probably at the same time as tho suburban loons.

The motion was then carried