ELECTRIC TRAMWAYS

Taranaki Daily News, Volume LIII, Issue 144, 27 September 1910, Page 5

ELECTRIC TRAMWAYS

THE COUNCIL'S PROPOSALS. 1 '-i ■ The following motions will bo moral], ;'4 by His Worship this (Mayor at the next .'-j meeting of the Council:— V(1) That the necessary steps be taken to take a poll of the ratepayers upob 'J the following proposal of the OoumjO< To borrow by way of special loan fli® > sum of £54,700 at ft rate of interest ; not exceeding £5 per annum, ' sinking fund of % per cent, additional the loan to be repayable at the expira* ■' tdon of 25 ycara and to be for the fol* " lowing purposes: 4- ' £42,126 for the installation of t| system of electric tramways within and without the borough from JStaN roy to a point near the a distance of flfff ') males. ';v £12,574 to provide additions Bffl . .j extensions to tihe eleotrie lighting ~*■ ejTstem, either within or without Ma borough, and for the construction at jV all necessary and incidental wori* .' in connection therewith. ' , l 4 It is proposed that the first yelifft interest, all preliminary expenses, on) the cost of raising the loan shall tO- - out of the proceeds of the loan. « >j The £54,000 loan is mado lip 86 foEt • lows:- ' 4 •'$ ' - Tramway installation „ ©,72® i } 1 Preliminary expenses and costl ; ;i of raising loan ¥l# '? iFirslfc year's interest 1,0871 £42,12® ' ■' Electric light extension * Preliminary expenses and cost J , \% of raisihg loan 4 J2J '»'/?» First year's interest ■..* 6031 *,'? "£ii?)74 -i Gronld total 54JOQ (2) That the necessary steps be taktti ■>' to take a poll of the ratepayers upon I'"' following proposal of the Omncilfv ;| To borrow by way of special loam % the aum of £12,500 at a rate of in- ■ terest not exceeding £5 per-«centuxn M per annum, with a sinking fi£ of % ; per cent, additional, the loafi to be * repayable at the expinatiotf;;iof 89 ?.<f. years and >to be for the purpose of . ''' providing additions and i Id 'the electric lighting system, eithen i'li witihm or without the borough, jutf }'% for the construction of ali^&mflSr'' ' v fM and incidental works in eoimecwS therewith. It is proposed that » ,*'•j'l first year's interest, all preluttttair Be. /' "M pensaa, and the cost of raieidPthe lata >" M shall be paid out of the : 'M That in the event of the j>rop< if to raise the loan of £54,700 Mne i r- *. I ried at the poll the proposal to r » \jU a loan of £12,500 he not procec d ; 'W with. , ; (3) That immediate steps be token >r the construction of a concrete forebei tf ' . 3V4 settling chamber at the plpehead, t h 1 all neccsisar • equipment, and fir the i«, VI dmtional pi. 'line from the forebey to te Power Station, the cost of such W< » *!*'' to -be paid partly from the Electric Id vt V, Loan moneys now available, the i to be paid' from the Electric light Wat '' ing Account and Reserves Fund.