GREATER NEW PLYMOUTH.

Taranaki Daily News, Volume LIV, Issue 233, 30 March 1912, Page 6

GREATER NEW PLYMOUTH.

ADJUSTMENT OF ACCOUNTS. AGREEMENT ARRIVED AT WITH FITZROY. The agreement which lias been entered into between the Borough Council and the Taranaki County Council relative to the adjustment of accounts consequent upon the merging of the Fitzroy Town Board district into the borough, has now been made public. According to the agreement the valuation of the new area included in the borough is admitted to be £116,047, and the valuation of the new area included in the county is £16,283, while the valuation of the area in the Fitzroy town district, as per rate book, is £132,330. As shown in the statement of assets and liabilities admitted to be correct, the assets of the Fitzroy Town Board were £llßl 4s Id, and the liabilities were £670 4s 9d, an excess of assets over liabilities of £5lO 19s 4d. It is stipulated in the agreement that the borough council shall be allowed to collect all rates and accounts outstanding, and be allowed a commission of 5 per cent, in the adjustment for so doing; the county agrees to pay to the borough a sum equal to 16,283-132,330ths of all rates and accounts outstanding two years from September 18, 1911. The Governor-in-councii is recommended t® apportion the inscribed debt of the Fitzroy Town District, amounting to £Bl4. between the Taranaki County Council and the New Plymouth Borough Council as follows:—Taranaki C'ountv CouncH, £100; New Plymouth Borouilli Council, £714. The parties also agree that the share of the excess of assets over liabilities to be allotted to the County Council shall be the sum of £57 9s. being the sum of £62 17s Od less £5 8s 9d. The borough further agrees to take over the whole of the assets of the Fitzroy Town Board and pav all outstanding accounts, amounting to £278 18s 2d, and also bank overdraft of £3QI 6s 7d.. The agreement further states: "Whereas it is provided bv agreement between the county and the borough, dated March 4, 1907, that the sum of £SOO be paid by the borough to the county under such agreement shall be brought into account in this adjustment, it is hereby agreed that the county shall forthwith pay to the borough the said £SOO, less the sum of £57 9s, due to the county as referred to above; any other accounts actually due and owing to the Fitzroy Town Board shall, when collected by the borough, be apportioned between the borough and the county, borough council 116,047-132,330t1i5, county council 16,283-132,330 th s." It is agreed that in the event of any dispute or difference arising directly or indirectly out of the agreement.' the same shall be referred to two arbitrators. THE WAIWAKATHO BRIDOE. With regard to the Waiwakaiho bridge the agreement states' that the borough and the county mutually acrree that the Waiwakaiho bridge shall be under the exclusive care, control, and management of the county; that the borough whall. on payment of the sum of £4-12 lis. forthwith pav to the county the sum of CiOfl. and shall every year pay to tlie county one-fourth of the cost of the maintenance and repairs of the bridge as from December Ist, 1011. upon being supplied by the county with satisfactory proof of such cost. The contribution shall not, it is expressly stipulated, be increased, but shall be treated as fixed. The agreement shall, continue in force for a period of twentv years from the date mentioned, and is intended to be collateral with the agreement between the same parties by which the borough and the county have made nn adjustment of propertv. liabilities, contracts, and agreements between thorn. It also provides that in case of dispute or difference of opinion the same shall be referred to arbitrators, with power to appoint an umpire.