BOROUGH FINANCES.

Pukekohe & Waiuku Times, Volume 2, Issue 100, 10 June 1913, Page 4

BOROUGH FINANCES.

A Penny Rate Proposed.

At Wedncsd y night's meeting of tha Boroogh Council the Mayor gave notice of jntentio.l to move- • "That a General Rate cf Id in the £ be struck on ell rateable property within the borough f;om April Ist, 1913, to March 31st, 1914." The following re'urn, which Mr Lawiia read, wai an approximate estimate of the receipts ar.d expenditure for the coming year: Receipts. £ General Rate of Id in £. 1500 Government subsidy 180 Licenses I^o Dog registration and fees 20 Total 1820 Expenditure. £ Clerk's Salary 185 Engineer's Salary 185 Foreman's Salary 175 Hospital and Charitable Aid 221 Election expenses 10 Insurance 30 Legal expenses 50 Fire Brigade 60 Office rent 26 Library subscription 10 Printing, advertising, etc. 100 Street Lighting 50 Incidental expenses 100 General repairs and upkeep of roads 615 Total 1800 Speaking to his mo'.ion the Mayor said he did not see how it wsa possible lor the Council to do with anything le-s than a penny rate. Cr Ccmrie seconded (he rnroktion. Cr Pollock: Have all tha new buildings been re-valued? The Mavor: I think so. The r.ew valuation roll ia not to hand yet. Cr Patterson siid the Mayor had forgotten to specify any sum to pay back the overdraft. "* Tha Mayor: It is unnecessary, as on March 31st we had no overd Eft Any overdraft we may incur now is provided for by the rates for t'e year. The resolution was cartied. The Mayor moved: - "Ihat the Bank of New Zealand be asked to grant an overdraft against the estimated r;ceipts, and that the mover and Cr Comrie be authorised to arrange for same." Thii was seconded by Cr Hamilton and carried. The Finance Committee reported that after interviewing the manager of the bank they had decided not to invest any of the monies to the credit of tha various loans accounts. The rea.on was that the money would have (o be invested for six months before they could get any interest, and as it was anticipa!ed that a lot of it would be required before then it was no use tying it up.