THE NEW FINANCIAL AR RANGEMENT BILL.

Waikato Times, Volume X, Issue 853, 4 December 1877, Page 2

THE NEW FINANCIAL AR RANGEMENT BILL.

* The new Fin mcial Arrangemen Act -Yinmendmeut Bil[ provides : — ■jV)O1 and after the c wniu^ into iteration of tins A.ct, all Lin i reveuu> . icci'iimg m each district shall be ,);ivg of the consolidated revenue of the colooty. la lieu of subsi.lies payable to Co-jnty and Borough Councils, Road Boards, and River Boards*, under the s .id Act, tliere shall be »>aid out of the Cuusolid tred Fund luring each financial year m respect jf all stuns received hy way ol general rates during 1 the year ending -he 3lst March previous thereto, she sums following namely : 1. To each Cjuuty Council a sum >qu;il to ofie pound for every pound m the total, of the suns so received >y all Road Boards or parts of ttoul Boards within the County, whichever of such two sujis is the •^renter. 2 To each Road Boird and iUver B.)ard suras cqtal to one pound for every pound of general rates so received by each such Bjard. 3. To each Borough Council a sum equal to one pjuud of general fates so received by su.-h Council. But for the -purpose of this section no sum shall be deemed to be received by any such Council or B )ard m excess of the sum receivable on a rate of one shilling m the pound of the annual value of rate-i-ble proparty. A seperate account shall be kept if .he laud revenue accruing m each listrict m each financial yeir : and there shall be paid our of the Consolidated Fund for each siu'h year m m inner hereafter provided, n sum equal to 20 per centum of auch laud revenue so accruing m each district. The percentage to hs paid out of the Consolidated Fund, w meutioned m the last preceedtn j' -ection, shall be apportioned among-*. Jie Couuty Councils, Rjad Bjard md River Boards m the district, m respect of which such revenue has Mrrisen m proportion of the subsidies payable to such several b.idies. The fourth to the tenth'S^ctim of Financial Arrangements Act] 1876 (bodi incslusivp) and the thirteenth section thereof, are hereby repeaie t, m so far us die same miy be moon. i-iisteit with this Act The Aut is do come into operation on the Ist of January next.