THE PROPOSED COUNTY LOAN

Te Aroha News, Volume XXVII, Issue 43333, 4 June 1908, Page 3

THE PROPOSED COUNTY LOAN

v ' ' To the Editor < Sib, —The most important point in connection with this‘matter has not been made plain as I think it should be. I think our present overdraft is £5000; the proposed loans, £6,500; loan for traffic bridge, Te Aroha, £3,500; total £15,000. Our overdraft cost us 6 per ; cent and loans 4 per cent, so the average would be 5 per -cent. The interest, etc. on the above total would be £750 per year, £l4 10s every week or £2 Is every day—high day and holiday included. Now sir, if the ratepayers are satisfied with the above littlfe bill of interest, vote for the loan; and if not, well vote against it, and I honestly think we

should vote against it. There are several sound reasons why we should refuse this proposal, but one I think is sufficient: —»_The whole iof the bridges in the past * have been built out of ordinary revenue, and surely if this could be done in the past with a small rate roll and no overdraft, we should be able to do it now with our very much increased rates : but possibly we may have t> get the old chairman back to do it;—l am, e‘c. H. O. COOPER. Waihou.