CORPORATION BORROWING.
To the Editor. Sir, —I have been expecting for some time an expression of opinion from the Citizens of Dunedin concerning the large amount of indebtedness into which the City is drifting. At the present moment some L 50.000 is owing by the City. It is proposed to borrow L 20,000 or L 30,000 for building a Town Hall, and about a similar sum for the commencement of a system of sewage, which, when completed, will probably involve an outlay of LIOO,OOO. Then we find the Council offering for the Water Works Ll6 per share, which represents about another LIOO,OOO, so that before long the City will be owing about a quarter of a million of money, if the above proposals are carried into effect—not a small debt for a town of less than 20,00J people.—l am, &c., Civis. Dunedin, November 14,
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Evening Star, Issue 3350, 14 November 1873, Page 2
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144CORPORATION BORROWING. Evening Star, Issue 3350, 14 November 1873, Page 2
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