WAITEMATA COUNTY.
To- day (Wednesday) the Waitemata County Council submits for the approval of ratepayers a proposal to raise a loan of £80,000. It is proposed to raise the loan from the State Guaranteed Advances Department at 3A per cent, with a charge of 13-8 per cent, with a charge, of I 3-8 ppr cent for a sinking fund, which will extinguish the loan in 36A years. The ideaot the Council is co distribute the boriowing over a number of j'ears and the rate will only be raised on tho portion of the sum borrowed. The County Club gives it as his opinion that financial position of the County is so satisfactory that the sp°cial rate to cover the loan will not iuvolve auy increase in actual taxation as tho general rate must be reduced to the amount of the. loan raised in each riding. The polliug booths will close at 6 pm this evening, and there is every reason to believe that the proposel will be carried by a fair maj-iritv.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/KWE19111108.2.5
Bibliographic details
Kaipara and Waitemata Echo, 8 November 1911, Page 2
Word Count
172WAITEMATA COUNTY. Kaipara and Waitemata Echo, 8 November 1911, Page 2
Using This Item
See our copyright guide for information on how you may use this title.
Log in