BOROUGH LOAN PROPOSALS.
The following is the scheme propounded by his Worship the Mayor at the special meeting of the Borough Council yesterday afternoon :— Proposal'to raise a Loan of £5,000 for improvement to streets as per schedule, secured by special rate of one shilling m £ t and grant from ordinary, revenue of £50, as follows : — Special rite equal t0... : . j, £1000 G-ran,t from ordinary revenue 50 £1050 This provide^ an annual charge r r - : tor, iiiterest at £7 per ' ' v ' '■ cent. : Sinking Fund ... „ , : 706 .'_,.'..■■. ■■■'■'■' £1050 The above Sinking- Fund' 'invested at 5% wouldrepay. the Loan m six years, making the two" loans : > yrhich would be then existing mature at the same time. The effect upon' (he ordinary revenue might be anticipated to be as. :' follows: — ; Present ordinary revenue " . £1400 ; deduct amount , required for interest/ j£'800; available for ordin- ' ; , ary expenditure... ... £600 Presuming the loan to be ci- , pended m 3 years, first ' : r 2 years £2000 each, 3rd '■ year, £1000. ■ • 1( At End op Ist Year. : .. , Increase from ordinary - ■ causes on £1400 at . My. ..,:,.. ...m lucrease : fcom loa.n. ejpeu- • dlture on £1400 at 6%-... ■;..-• ■..•£B^--;140 £740^ At End op 2nd Year. Increase from ordinary causes on £1540 T **%-., :V..U^6U2b Inorease fxom^an expenditiir^ on X1540at6% 8s 15± ■ U- . £894 At Enivop 3rd Yeab. Increase from" "ordinary causes qn ; j61694 at ' 4% "...£6B ; Increase from lpanpxpen- '•.; , V ditureon £1*694 at ''"'"' ' 6%. ...•■::- -^i- : ..JJIQ2,., 170 '"''. -..."''' y :: £IQQ4 During the fqllowing yeaw previous to repayment of . loan,,anavevja«e inoreaae., . „■ : wight,, , be expected of ./': .. o ; £IQP, •makjng.the .../uii' •-/',.•/•" ! available for ordinaiy, ex- I penditure abput £lisdr '" ! ','* A.t this time the revenue • ."'. and disbursements would u>i * be as follows: — J ;!•.:' j From Special Rate ... , v ;< £1000From Ordinary Revenue 1: 1950 *•' «" r . .. a £29^0 ■>- ■• . . ■ ' ■'' ■■ : .••■■-• . . «— — i—^i Providing for Interest anft : Sinking Foii^;:... * :;■;. . £\&&$ L Available for currentexpeijaes 1160 _. x.iw :-•--. tX ....&) ' £29^0
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS18840118.2.18
Bibliographic details
Manawatu Standard, Volume IV, Issue 43, 18 January 1884, Page 2
Word Count
301BOROUGH LOAN PROPOSALS. Manawatu Standard, Volume IV, Issue 43, 18 January 1884, Page 2
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in