LOCAL BODIES' FINANCE AND POWERS BILL.

Kumara Times, Issue 2745, 9 July 1885, Page 2

LOCAL BODIES' FINANCE AND POWERS BILL.

This bill is intended to provide for Grants in Aid of Local Bodies for the Construction of Works within their respective Jurisdiction, and for otherwise promoting the efficiency of Local Bodies, and for other purposes. To give effect to this bill it is proposed to establish a Local Bodies Finance Account, to which is to be transferred the sum of £150,000 for the current half year, and for a period of 25 years following a yearly sum of £300,000 will be transferred in equal portions from the Consolidated Fund and from the Public Works Fund, but at the expiration of five years and for the twenty years next following the £300,000 will be altogether drawn from the Consolidated Fund. These sums shall be divided amongst the local bodies so as to allow to each Borough Council and Town Board, when the general rates actually collected shall not exceed a total sum of £750, a sum equal to £1 for every £1 of such rates and no more. When the general rates so collected shall exceed a total snm of £750 thon a sum equal to 10s for £1 of such rates and no more; providH that no lesser sum thm £750 nor greater than £ISOO sl.iil be paid in any one year under this sub-section.

To each Council of a county whenn there are no road districts, when the general rates so collected by the County shall not exceed a total sum of £IOOO, then a sum shall be granted equal to £2 for every £1 of such rates and r.o more. When the general rates so collected sIihII exceed a total sum of £IOOO, then a sum equal to £1 for every £1 of such rates and no more shall be granted, provided that no lesser sum than £2OOO nor greater sum than £IO,OOO shall be paid in any year under this snb-sectiou.. In respect of counties where there are road districts, to each Road Board in such county, •when the general rates actually collected by the Road Board in the road districts shall not exceed a total sum of LSOO, then a sum equal to L2 for every LI of such rates shall be granted and no more. When general rates collected shall exceed a total sum of LSOO, then a sum equal to LI for every LI of such rates shall be granted and no more, provided that no less sum than LIOOO nor greater than L2OOO shall be paid in any year under this sub-section to any such Road Board. Whenever a Road Board or parts of Road Boards merge in a county and become a riding or part of a riding, the same rate of subsidy shall be paid to the County Council on account of such riding or part of riding as would be payable had the rifling or part of riding continued a Road Board or Road Boards. Tor the current period to end 31st March the payments are to be half these amounts. Power is given to the local body to raise money on the security of special rates, or on the security of forthcoming subsidies. The special rate is to be struck at a meeting of the local body, and is payable on the Ist day of March in each year ensuing. The local bodies may make provision for the repayment of moneys borrowed by making, with or wiihout a sinking fund, the whole loan or separate portions thereof repayable at a period or stated period, by making any debentures issued in respect of loan repayable by periodical drawings or by the grant of terminable annuities, and so forth. The first two years' interest may be paid out of loan, thus relieving the ratepayers for that period from the payment of rate. The money is not to be borrowed without the consent of three-fifths of the ratepayers, and notice of the intention to raise a loan is to be advertised in the papers circulating in the district once a week for three successive weeks; and this notice is to set forth the particular work or object for the purposes of which the money is to be borrowed, and the estimated cost j thereof and other information. Two or I more local bodies may unite to raise a loan. All the revenue derived from mining districts is to form part of the county fund, and the goldfields counties may impose a royalty of two and sixpence per ounce upon all gold obtained in the district. Notice of the intention to enforce such royalty is to be advertised once a week for three successive ■weeks, in a paper circulated in the dtstrict. The money raised by loan may be applied to all works now performed by local bodies. The Governor in Council may delegate power to local body to expend money for gold-mining operations, and agree with the local body to open up Crown lands recently sold, and may delegate power to a local Board to construct public works. Penalties-are set down for false representations. The Roads and Bridges Construction Act, 1882, and any Acts amending the same, are repealed.