HARBOUR BOARD LEASES.

Manawatu Herald, Volume XXXII, Issue 834, 3 May 1910, Page 3

HARBOUR BOARD LEASES.

QUESTION OF RE-VALUA-TIONS. A letter was received from the Board’s solicitor at last night’s Harbour Board meeting stating that the tenants have arranged to ask the Board to fix the increase of rental for the third term of the leases at 50 per cent., no more or less. Under the provisions of the Harbours’ Act it cannot be less, and that if the matter is put before the Board at the next meeting, and it’s consent to this obtained, he would be able to get the leases completed at once. Mr Nash moved that the request embodied in the solicitor’s letter be agreed to. Mr Stiles seconded pro forma, but said he was opposed to binding the Board to such terms. The Chairman said he would prefer to get the opinion of a fuller meeting before committing the Board to such a proposal.

Mr Nash said that at the end of the first term possibly the valuation of the sections would be increased a hundred per cent, and seeing that the tenants would not receive compensation at the end of the 33 years, it was only fair to limit the increase in valuation for the third period to 50 per cent, and embody that clause in the lease. —Mr Tolley supported the resolution. — The resolution was lost on the casting vote of the chairman.

Mr Nash gave notice of motion to rescind the resolution at a special meeting to be held on the 19th iust.

It was pointed out that the leases could not be completed until this point was settled.