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Wanganui Chronicle, Volume LXXXI, Issue 19048, 27 June 1924, Page 1

PUBLIC NOTICES. THE WANGANUI -RANGITIKEI ELECTRIC POWER BOARD. NOTICE is hereby given that it is intended to present to the General Assembly of New Zealand at the next ensuing sittings thereof a Bill to be entituled 4 ‘The Wanganui Rangitikei Electric Power Board Enabling Act 1924.” The objects which the Bill is intended to effect are:— (1) To authorise the WanganuiRangitikei Electric Power Board (hereinafter called ‘‘the Board” to buy and the Council of the Borough of Wanganui (hereinafter called ‘‘the Council”), to sell all the electrical lighting works undertaking planting electrical lines transformers and substations of the Council save and except such portion thereof as is used solely by the Council for or in connection with its tramway system (all hereinafter called ‘‘the Borough Power Plant”) and to enter into the agreement set out in the schedule to the said Bill the purchase price is to be the actual capital cost thereof to the Council including the installation thereof and the actual losses sustained or incurred by the Council in connection with the same up to the date of the completion of the purchase namely 21 days after the passing of the Bill. Such actual capital cost and losses to be ascertained from the books of the Council and to be determined and agreed upon by the Clerk to the Council and the Secretary to the Board. In the event of disagreement the matter is to be referred to an Actuary to determine. Such Actuary to be appointed by the Clerk and the Secretary and if they cannot agree then by the Minister for Public Works. The amount of purchase money representing capital cost is to be payable as follows: 2% thereof is to be paid each year until Ist December 1931 when the balance shall be payable and interest on the portion remaining unpaid shall be payable at the same rate as the Council itself pays on its steam plant loans. The amount of purchase money representing the losses of the Council is to be payable at any time at the option of the prior to the Ist December 1931 with interest in the meantime at 6% per annum. The Board is to have the right to pay the whole of the balance of purchase money at any time provided it can make arrangements with the debenture holders from the Council of its Power plant loans to redeem their debentures before due date. Tho Council is to grant the Board a lease with a perpetual right of renewal of the land upon which the buildings housing the Borough Power Plant now stand being part of Section 36 on a plan of the Town Belt of Wanganui and containing about one acre. (2) To enable the Board to raise by special order and without the taking of a poll such loan or loans as may from time to time be required to pay the capital moneys payable by the Board to the Council as aforesaid. (3) To enable the Board to expend the moneys to be derived from the £375,000 special loan already authorised to be raised for any purpose the Board is now authorised by law to expend the same upon as well within the district comprised in the Borough of Wanganui as constituted prior to its amalgamation with the districts comprised in the Town Boards of Gonville and Castle Jiff as in all other parts of its district. (4) To provide that to secure the repayment of such loan of £375,000 and interest the Board may levy a special rate of id in the £ on the rateable value based on the capital value of all rateable propery in its district including that within the Borough of Wanganui as constituted prior to the amalgamation with Gonville and Castlecliff. (5) To provide that all purchase money and interest paid by the Board to the Council in respect of the capital cost of such Power Plants shall be applied by the Council towards payment of the loans and the interest thereon raised by the Council for the purchase and erection by it of such Power Plant and known as its Electrical lighting and power loans. (6) To provide that all other purchase moneys and interest thereon payable by the Board to the Council shall be applied by the Council in reduction of the moneys owing by the Council on its Electrical Lighting account. (7) To provide that all payments made on account of capital cost by the Board to the Council and applied by the Council in or towards redemption of its electrical lighting loans shall be in satisfaction pro tanto of the sinking funds established by the Council in respect of its Electrical Lighting loans. (8) To provide that the moneys owing by the Board from time to time to the Council in respect of the Council’s losses shall for the purpose of Section 3 of The Local Bodies Finance Act 1921 be deemed part of the total revenue of the Council. A copy of the said Bill and a plan of the said lands are deposited at The Magistrate’s Court at Wanganui and are open at that place for public inspection. DATED at Wanganui this 19th day of June, 1924. This Bill is being promoted by The Wanganui-Rangitikei Electric Power Board and The Wanganui Borough Council. MARSHALL, IZARD & BARTON, Solicitors to The Wanganui-Rangitikei Electric Power Board.

STATE vOAL. rpHE Best, Ch?apest and Morft Eeo aomical Coal on the market. Supplies of this Superior Coal are novi available to the public. Truck loads supplied to farmers and country clients. Smaller quantities railed from Depot. Prices supplied on application. Orders by mail, accompanied by cash, will be prompt 1 / executed. STATE COAL DEPOT, Victoria Court, Wanganui. Rheumo Rapidly Removes Rheumatism. 2/4 and 4/6.