BOROUGH OF MIRAMAR.

Dominion, Volume 1, Issue 49, 21 November 1907, Page 10

BOROUGH OF MIRAMAR.

LOAN PROPOSALS.

MEETING OP RATEPAYERS.. A meeting of tho ratepayers of the Miramar Borough was held at the Kiosk, Worser Bay, last night, to consider proposals to raise a loan of £71,000: The Mayor, Mr. C. J. Crawford, presided, and there was a fairly good attendance of ratepayers. In opening tho proceedings, tho Mayor laid stress on the fact that tho meeting was a statutory one, convoned.for the purpose of considering certain loan proposals, and he would not admit any discussion upon extraneous matter. They were there to say whether they would sanction a loan of £71,000 or not. .Tho Mayor enumerated the various items covered by the proposed loan, and formally moved that tho meoting approve the proposal of the Council to borrow by way of spccial loan within the meaning of the Local Bodies Loans Act 1901 the sum of £71,000 for the undertakings of (a) providing a water supply for tho borough; (b) providing a system of sewerage for the borough; and (c) street improvement works; and to make an annually recurring special rate as security for the loan and to provide interest and sinking fund, and request tho chairman to cause a poll of the, ratepayers to be taken upon tho proposal. The motion was seconded by Mr. H. Cooper. The Mayor then outlined the various undertakings to be carried out by means of tho loan as follow:— "WATER SUPPLY. The proposal suggested by Mr. Mestayer and approved by the City Engineer, is'to run a 12 inch main from the junction of an '8 inch and 6 inch main in Charles Street, Kilbirnio, into tho borough.- This supply will bo sufficient for a population of from 8000 to 10,000, and admits of ready extension for a greater number. The City has agreed to supply tho borough with water at tho rate of 9d. per 1000 gallons. The amount of loan money allocated for tho supply of water is £23,000, made up as under:—

£ 1 Air. Mestayer's estimate 18,630 House Meters, 800 at £2 10s. ... 2000 First year interest on loan, 4J p.c.... 1035 Cost of flotation of loan, '1 p.c. ... 230 Contingencies 1105 £23,000 - The annual cost in addition to the. interest on the loan will depend on the amount of ;water used. The question as to whether meters are to, be .used by householders has not yet been decided upon. ( DRAINAGE. ' ' Mr. Mostaycr proposes that the Wellington outfall sewer be made use of. This nas been agreed to by the city, the charge for the use of the sower to be £80 per annum. The Shone pneumatic system is to oe adopted, whereby sewerage is collected at suitable points, received into cast-iron ejectors, and forced from them by compressed air into delivery pipes. Mr. Mestayer originally, suggested a septic tank to be situate on the Defonce Reserve, Seatoun, but it is now proposed to discharge all sewerage into the city sewer. The annual cost for drainage Ajork is estimated at £556 per annum, wh: includes the charge to bo mado for the city sewer and costs of engineers and fuel. The present system provides for a population of 10,000, and, as-in the case of the water supply, can be easily augmented. The amount allocated for this purpose is £25,000, made up as under:— : Mr. Mestayer's estimate ... £22,793 First year's interest 1 on loan, 4J per cent.- ... 1,125 Cost of flotation of loan, 1 per cent; 250 Contingencies 832 . . - £25,000 STREET IMPROVEMENTS. The necessity for properly-constructed streets has become apparent now that the tramways have been constructed. • To copo with the rapidly-increasing requirements for better roads out of revenue from rates, has been found to bo impossible. The enormously increased carting duo to tramways has added.' considerably to the cost of maintenance. The amount spent on road maintenance for the six months ended September 30 was £1428, and the amount for tno same in the previous year was £477. Even with the tramway route and foreshore road as a charge on loan money, the amount'required for street maintenance and improvement will not fall far short of £3000 a year. The present proposals are based on estimates furnished by the Borough Engineer. Provision has been made for metalling with first-class metal to full width, and for asphalt footpaths on the tramroute. The foreshore road from Scorching Bay to the Defence Reserve at Seatoun is to be properly formed and metalled, and a foot-, path is provided from the Karaka Bay wharf to tho Defence Reserve at Seatoun. The sea wall along Seatoun front is to be extended. Stafford Streot, as the connection between the tramways and the sea front, is" to formed to full width. The carrying out of these works out of loan money will relieve the rates for the next three or four years. The amount allocated, £23,000, is made up as under Miramar North tram-route ... ... £7,514 Seatoun tram-route 7,/95 Foreshore road ■... 4,138 Tramway'lighting. 500 Tramway shelter sheds, • ... ... 500 Road roller .... ... ... ... . 1,000 First.5 year's interest and cost of flotation .;. ... 1,210 Contingencies ... 343

. £23,000 ; THE FINANCIAL ASPECT. ' From a financial point of view, tho present proposals may seem ahead of the times, but ono has only to look back two years when a loan of £23,000 was regarded by many as being a very severe burden to cast on a young borough. The trams are now paying their way, and ratepayers need feci no.apprehension on that score. The present indebtedness of the borough is £35,000, but the Wellington Harbour Board has taken over £3,500 of tho debt with tho wharves, and the city will repay about £10,500 of tho tramway loan, so that the actual debt is £24,000,- against which-as an asset wo have a tramway that cost £40,000 to construct. Tho rato that would be required on tho present valuation to meet interest on the proposed loan is 3Jd. in the J". Tho present valuation, unimproved, is £289,955.' This valuation was-made in the ltoad Board days, and has beon in force for four years. The unimproved valuation in 1900 was £33,759, and in 1903 £102,620—that is, tho valuation has been incroascd throefold at each valuation. On this basis the interest on tho present loan will be about Id. in the £ on tho new valuation. Tho valuation for next year, which tho Government Valuation Department has now in hand, will, it is estimated, approximate £800,000.