BOROUGH FINANCE.

King Country Chronicle, Volume VII, Issue 605, 24 September 1913, Page 5

BOROUGH FINANCE.

ESTIMATES FOR YEAR

At Monday night's meeting of the Borough Council the estimates for the ensuing year were dealt with. The estimated expenditure was set out at £2578, and the estimated reve nue at £1215, leaving a deficiency of £1363 to be met by a general rate. It was decided to strike a rate of one penry in the £ which will produce a returnof £1351. A communication from the New Zealand State-guaranteed Advances Office, ,dated September 4tb, 1913, upon the subject of the 10 per cent, additional on the £27,275 loan was considered at a meeting of the Finance Committee on Friday, September 19th; also a telegram from Bunny and Ayson upon the subject of the 10 per cent, additional on the £70635 loan. The Committee resolved to recommend that the Council strike a special rate to cover the 10 per cent, additional on both these loans, but not necessarily to collect same. The Committee recommended the Council to strike the following rates for the period April Ist, 1913, to March 31st, 1914:—General rate, Id in t&o £ on the capital value of £324,329 £27,275 loan, gd in the £ on the capital value rate, 5 per cent, and 2i per cent, on the annual value of properties within 100 yards of the water mains. The recommendations were adopted by the Council.