HUTT POWER BOARD

New Zealand Times, Volume LIII, Issue 12617, 30 November 1926, Page 9

HUTT POWER BOARD

MAKING GOOD PROGRESS CONSBMPTHNO INCREASES OVER IIC PER CENT. AVAILABILITY RATE UNTOUCHED The success which up to the present has attended the operations of the Hutt Valley Power Board augurs well for the success of the loan poll which takes plaoe to-morrow. For the convenience of ratepayers there will he extra polling booths at Hutt City Council office and at the ferry wharf. In the course of the past week a series of meetings has been held in various parts of the board’s area to place before the ratepayers details of the proposals to borrow £150,000. A rate of three-fifths of a penny in the £ on the unimproved value is required to bo pledged as security for the loan, portions of which have dieen offered at oi and 5J per cent., in addition to which 10 per cent, sinking fund is included in the security rate. THE SECURITY RATE As is the case with the eiisting ; loans, totalling £204,000, it is not pro- j posed to collect any portion of the se- i ourity rate as in the event of a de- j liciency at. any tim© tb© board lias tho , power to collect an availability rate from those property owners holding , land which can be served by the exist- - ing distribution lines, but are not taking current. , it is not, states Mr A. J. MoCurdyn chairman of the Power Board, proposed to expend moneys in extensions unless revenue is in sight sufficient to pay 12) per cent, on the cost of construction. This is forthcoming in quite a number of the works that are scheduled by the engineer. Other expenditure is in the direction of supplying greater pressure in tho existing lines to guard against voltage drop where the rapid increase in the number of consumers and the installation of ranges causes an abnormal demand for current in the closer settled areas already reticulated. ALLOCATION OF LOAN A three-fifths majority of those voting is required to carry the loan proposals, which aro as follow: To carry out works scheduled by engineer oU.UUo Assistance to consumers for installutions, ranges, etc. 20,DUU New areas—now being developed (including IS miles of streets 30,(XX) 110,0(1} Reserved for future works .. 35,01)0 First vear’s interest and sinking fund 4,900 £150,000 No power board loan has yet been rejected in Now Zealand, and as the I-lutt Valley Board’s operations are amongst the most successful which have yet been carried out showing an increase in consumption of over 100 per cent. - even in the pa-st year it is not anticipated that tile ratepayers of the board's area will depart from this course bv refusing to sanction a loan which is to bring light and power ■ within the reach of all.