CONCRETE ROAD WANTED

Auckland Star, Volume LX, Issue 231, 30 September 1929, Page 5

CONCRETE ROAD WANTED

THROUGH PAKURANGA RIDING. PROPOSED LOAN OF £9300. RATEPAYERS' UNANIMOUS APPROVAL. Strong support for the proposal to borrow £9300 to concrete the main highway through the Pakuranga riding was forthcoming on Saturday at a meeting of ratepayers held in the Pakuranga Public Hall. Mr. F. M. Waters, chairman of the Munukau County Council, presided over a large and representative . assembly, which registered its unanimous support for the scheme. Mr. Waters said a recent tally of traffic extending over a week showed that over 1000 vehicles passed along the road each day. Maintenance costs now averaged £500 a year. The grant of the Main Highways Board would be on the basis of £3 to £1, if the proposed loan was carried. The total cost to the riding would be £9300, which would provide for the construction of an 18-foot concrete road with bitumen shoulders. The county engineer, Mr. J. R. Page, said the total cost would be £36,936, and the quota of the Main Highways Board The approximate cost of raising the loan was £00. The terms likely to be imposed by the Local Bodies Loans Board were oA per cent per annum, the rate for the sinking fund, based on a life of 20 years, being 3 per cent. A rate of 27-C4ths of a penny in the- £ on a ratable capital value for the riding of £497.184 would produce £873 19/1. The rate to be struck as security for the loan on a 20 years' term was approximately 7-lflths of a penny in the £. A rate of approximately 3-Bths of a penny in the £ would probably be sufficient. On the motion of Mr. E. W. Inder, seconded by Mr. F. Roberts, the following resolution was carried unanimously: "That this meeting of Pakuranga riding ratepayers approves the proposal to raise a loan of £9300 for the purpose of providing the riding's proportion of the cost of regTading and paving with concrete the Panmure-Howick main highway, within the county boundary, and J that the Manukau County Council be recommended to place a loan proposal before the ratepayers accordingly."