HYDRO-ELECTRIC LOAN

Taupo Times, Volume II, Issue 60, 11 March 1953, Page 4

HYDRO-ELECTRIC LOAN

« Sir, — Referring to the recommendations of Mr Mandeno and the capital funds required to finance further developments of the Town Board's power project, it seems very startlmg from the ratepayers' point of view to note the increasing costs that are being levied on the consumers within the rating area. The Engineer mentions that suhstantial revenue will come from reticulation cutside the town limits. Where power is required by isolated groups not within the rateable limits,, a substantial guarantee, extending over a reasonable period, should be necessary. The Board has given authority to the Engineer's recommendation that a further £37,500 be raised to cover increased costs of equipment and reticulation both within and outside the town district with no iiijdication of how long it will be before the scheme .will pay for the ann.ua! costs. In the meantime the ratepayers act as security for an extra l id. in the pound, unimproved value, on revised valuations recently raised in some cases t-hree hundred | per cent. Are ratepayers to pay for non-ratepayers without some fair and. reasonable adjustment. — I am, etc.,

J. M.

STANLEY. .

[The subjects dea.lt with in the ab.ove two letters were referred by the Times to the Tovm Board Chairman, Mr J. E. Story. See comment elsewhere in this issue. — Edit-or.]