THE NEW LOAN.

Wairarapa Daily Times, Volume IX, Issue 2776, 16 December 1887, Page 2

THE NEW LOAN.

The money to be raised under the Loan Bill is to be allocated as follows: —ln aid of part 1., Public Works : Fund.—lmmigration, £70,000; roads, £225,000; purchase of Native lauds (North Island), £15,000; telegraph extension, £40,000 -\ harbour defences, £180,000; costs and charges of the loan, and contingenciee, £20,000; total, £500,000. In aid of part 111., Public Works Fund.—Bailways (exclusive of permanent way sleepers, and rolliugstock).—Heleusville, northwards, £25,000; Putaruru-Rotorua, £9,000 ; Woodville • Palmerston, £93.000; Blenheim-Awatere, A 000; Mount Somers, £500; Livingston £1,000; Otago Central, £85,000; Seaward Bush, £5,000; additions to open hues. £57,000; surveys new lines of railway, £6,000; total, Permanent -way, sleepers, and rolling stock for above railways, £122,000; engineering, and supervision, &c, £45,000; costs and charges of the loan and contingencies, £30,000; total, £500,000. Grand total, £1,000,000.

NEW BILLS. LOCAL BODIES FINANCE AND POWERS ACT 1885 AMENDMENT BILL. This Bill, introduced by the Premier repeals the Locdl Bodies finance aud Powers Act 1885 Amendment Act, 1886, but such repeal is' not to prevent payment of any moneys due or payable under that Act, prior to the passing of this Act. Provision is made for the payment to Local Bodies'for the year ending 81st March, 1888, one-fourth of the amounts to which they would be entitled under the plan of distribution described in the schedule of the Act of 1880, with' the following provisions:— "Provided that 75 percent., and ho more, of the amount which it is estimated by the Property - tax Commissioner may become payable to any Local Body, may be advanced to such local body within the year ending 31st of March, 1888, Provided also that on receipt by the Property Tax Commissioner of returns, duly verified by the declaration of the Chairman or Treasurer of a local body, showing the amounts of the rates aforesaid actually collectsd to the thirtieth day of June, 1888, the amount of subsidy found to be payable in rgspecfc to such rates, less the amount (if any) advanced as aforesaid shall be paid to such local body; and any sum advanced in excess of the amount so found to be payable shall be repaid by the local body to the public account or be recovered by the Colonial Treasurer out of any moneys payable to such local body." CROWN AND NATIVE LANDS RATING ACTS REPEAL BILL, This Bill repeals the Crown and Native Lands Acts from the first April next. The repeal will not, howeveiw(l) Affect the payment by the Colonial Treasurer, of any rates that may have been paid hy him hi respect of native lands, but all moneys paid in respect of such rates shall be recoverable by or on behalf of. the Colonial Treasury as if this act had not passed., (2) Affect any late due arid payable, to. any local body at the dato when this act takes effect, whether in respect of Crown lands or native lands, and every rate may be paid, &'n,d re(jQYgvpjl fts jf this Act had not passed; (D) Affect any hon,d, debenture, or other, security given by any local body in accordance with any law in, force prior to the passing of this Act, and by ' virtue of whjch the whole or- any part of any rate payable in respect of Crown Lands or Native lands under the Acts hereby repealed are or have been made the whole or any part of the security for the payment of any such bond, debenture, or other security or the interest, to accrue due thereon respectively; and in such case such rates shall continued to be levied, paid, and recovered as if this Act had not passed.