MT. ROSKILL PROGRESS

Sun (Auckland), Volume III, Issue 723, 24 July 1929, Page 13

MT. ROSKILL PROGRESS

LOAN PROPOSALS TOTAL £128,700 POLL ON AUGUST 31 The Local Government Loans Board having sanctioned loans totalling £66,700 for the paving of Mount Albert and Three Kings Roads, and £62,000 for the drainage of the Roskill western area, the preliminary steps are now complete and at the meeting of the Mount Roskill Road Board last evening it was decided that the question of advertising the loans and taking a poll of ratepayers be pro- | ceeded with immediately. The rate of I interest is fixed at 5Y per cent., with I sinking funds of 11 per cent, over a j period of 30 years. Included in the drainage loan is £3.000 having a currency of 10 years, to be used as advances to ratepayers to assist them in connecting with the main sewers. With regard to the paving of Mount Albert Read from the Royal Oak to the board’s boundary, a distance of about three miles, the Main Highway Board has already agreed to grant a subsidy amounting to £15,619. which reduces the road board’s liability to £46,381 for this particular highway, the balance of the loan being for the paving of Three Kings Road in addition to the usual contingencies. If the loan is carried it will have the effect of increasing the rates by five and ! five-eighths of a penny in the £l. The date of the poll was fixed for j Saturday, August 31.