WAIPA COUNTY

Waikato Times, Volume 119, Issue 19897, 28 May 1936, Page 14

WAIPA COUNTY

A SATISFACTORY YEAR. ‘ CONVERSION OF LOANS. ‘ .___ .\IR S. C. B. .\IAGKY, CI—IAIHMANi ___— I (Times RB'DI‘QSEDMHVE') I TE AWAMUTU. Thursday. At the annual meeting of the \Valpa County Council lit ‘Te Awaniutu 3'95" tel-day. the retiring chairman, MP 5' C. B. Mack)‘. gave a review of the year's operations. which disclosed a very satisfactory Del‘iOCl both 3'5 regards the county funds “"1 the work! carried out. Mr MackY stated that the ‘ funds were m a healthy condition. During the year the council had converted all of its convertible loans which had been raised in the boom time at interest rates in, excess of the basic rate of it per Cent- The aggregate amount. of the new debentures had been £102,550. “The new annual charges thereon are £5678 compared with £7799, which was payable annually previous to” the EU per rent. statutory reduction in interest," stated Mr Mack)“ "Not only does the conversion give an annual relief of £2121. ‘but- it also en—‘sures that h); a process of annual rB— the debt. will the wholly li~ quidated at the end of the term of the conversion loan. The strength of our position in respect. to loan indebtedness has been fully exemplified by the fact that during the year we have been able to raise the balance of the money required for the recon—struction of the Main South Highway on particularly favourable terms" Low Interest Rate. Tho wholn of the £3o,oth required ‘had now hot-n raised ill the low rate Inf 3i per cent. rcpayalilc in instalincnts over 15 years. it would be safely ‘claimod that. no local hotly in New tZealand haul been able to raise mono} ton beltm' terms. and \'or)’ few, if any. hall surroudcd in :ltorrowing for the smnc lCl'illh. ill thi~ Miran-lire low rate. Ihr rrl-urt continued. ’l‘o-iluy the loan obligntiona mil)‘ uniounit'tl to 2,715 per cont. ot‘ the ('nnitztl value with nn interest illltl sinking: i‘unti churgc Ht .132 per unit. and rutnpuynrs should linu- llu hesitation in ghins ttm roun—rit .Illlhl'll‘ll)’ to rtiist‘ further stuns for liiL'iiums. tho ronslrtu-tiun of permanent sealed Ttu' l‘l?\'L‘llUt‘.‘ ‘rll'L‘LlUllt \\‘as in un cuuully lit-ulth)‘ position, (is the {innu—cml war had rlosod \\iih n rrollit b‘ll‘clllt’l‘ of £IU.O-i‘.’ 7s ill, Jh :iguitifit “Willi; Ts Lid last 50511“. < The rate cullCt'liuii for the )car amounted to ”0.7 per cent. of tho Enrollean rates struck. as against Ste per went. last )ear. while Int-i per cent. of the arrears were collect/:11 as against -il‘n.i per rent. last .\oar. ”The tntnl l't"l‘t‘l[|l> for ttu: \PJI' amounted to Eilli.‘if‘tl including luuh raisrd of Mikhail as against £75323? in the previous year. ”the expenditure totalled £75,213 South Highway Reconstruction. “The principal work at" the year has heen tho rm‘onstructimi at the I'irtu‘it South Main Higlmdy, untlcr the >ll|~l'l‘vision of tliv‘ l‘uliliu \\’orks liopnrt nwnl. (imui progress has twr‘n nimtl‘ Hill \\'o mm I‘-~Illlttt‘iltl) .llltlt‘lllilll‘ that ”1" \\linlr‘ length \\'ithin tliv .munh‘ \\'ill ht" rnmplctmi \\itli n nnC-t‘vmt SW“ at tho «nut nt‘ next .\nnnnur, 1H" I'l‘iwi't \\.l,\ .uiulmwl .unl tlw u‘linu'nirln \\J‘ runaiuitulntwl on ilu‘ (“itlllllt't‘lit‘llMU' n.ltnrv of his rmiv“ or ”“‘ .‘l’ill'l‘ irllt‘l'ntll'lh. .\lr .\l.’u‘t\,\‘s .\l‘l'\ll'€‘>‘ in the I'uunrll \\urn uull‘lKls‘t-tl thy SCYUI'J] nu'nilu't's Mint ’lO \\.i.~. i':‘»l‘[t't‘tcll linnppuswl [up his nvlvrnnth ruiisxw-ntiw town .15 utinir-lll-lllt 'l'hn I~i'c\lous year's l‘inaitcc Cour

mittee was re-elecled for the ensuing term. :\ summary of the work carried out in the. past year was submitted by the engineer. Mr J. \\'. (Jivii. who stated that the new roads formed amounted to 7 miles 20 chains. while 8 miles ‘2O chains had been surfaced \\'ilh sand Grm‘elling and metalling‘ had been car» ried out over 5 miles lii) chat/Is and the ioial distance tar—sealed was 20 miles I‘. chains. ___— OTOROHANGA COUNTY. ANNUAL MEETING HELD. ' .‘IR BLL'CK TIE-ELECTED CHAIRMAN. (Special try/Times.) O'I‘OROIIANGA. Thursday. At the annual ineeiinir of the Oloroha~ nga County Council yesterday the following councillors were present: .\lr \\'. Blurk (chairman) and Messrs V. XV. Simms, l‘. T. Crowley. F. Potts. \V. Thomson. 5. Li. Fortescue (county clerk) and G. Jackson (engineer). It was reported that the rates and usual revenue were coming in satisfactorily, the only exception being motor drivers‘ licenses. . With only three and a-hali’ days in go. less than 20 per cent. had taken Uilt‘ licenses. All the ridings still had substan- 1 tial credit balances and the credit balance at the bank was £2192. The retiring chairman, Mr Bluck, was‘ re-elected. . lulu Struck. A notice of motion to strike the same rates as those of last year in the various rulings. and also The \\'aikato Hospitali rates was approved. The. general rates to he struck, on the unimproved value, in each riding. are in‘ the following proportions: Honlkiwi, 2m in the £1; Mangaorongo, id in the z'i;‘ \\’aipa. 1.7-8 d in the £1; Te nau-a-moa.‘ i i3—i6d in the ii, and \Vharepapa,‘l Lag in the £l. The \\'aikato Hospital rate \\‘ill‘ stand at n-lfi ths of one penny in the £1 1 on the unimproved value. in all rulings." The ragwort problem was discussed and it was felt that drastic action would have to be taken' in ro-operation with other local bodies, and the Government. to have the need controlled without delay. ELECTION IN OTHER CENTRES. ‘ The following county chairmen were elected yesterday:— \\’c.~ailun(l.—.\lr John Joseph )IcKay,l of llariheu'i, further, “as elected chair-i man or the \\'cstland Couniy Uouncil.‘ liawke's Benz—Mr R. Logan was} re~elcctcd chairman of the Hawke's Bay County i:ounci.. lie described the‘ JlOriliilil‘ week as impractivnl and im—possihlr. ni‘lil éirldml: “Nu council [‘UUIII afford to may double rates io‘ gm‘ rmuls cleared on Sundays or holi-i rims." . i.‘.l-uy.~—.\lr J. limit was elected cimirnmn M the Lit-0y County unoppumwi. linlw»i\.-llnqu-iilur \‘. Trounson was unanimously rc~clcrierl rhnirman of the. llobwn County. lie. has held lino iiillvc since l-‘eln'uary, 191.1, lluii.#4.\lr D. H. Haggard was rolclcricrl chairman of the lluii (louniy. .\ihl-::lru.——.\lr ii. (i. .\lnxlecl \\'ns nfl'dil] elected chairman oi‘ the .\lakarn County. \\'ailvnmtn,——».\lr 11. Paltrirlges. .\l:lnili\nu,——.\ll‘ F. )l. \\’ntcrs. \\‘liailgal'ri.v-—_\lr .J. 5, .\lackuy.. Henson—Air Trounson. llokiangu.—.\ir A. K. \'arborough. Fi‘nnkiiii.——.\lr J. .\. Massey. llaurnld l’luinsx—wllr l}. \\'. Parllit. 'l‘lmmcs.~.\lr 11. Lowe. morninan:i-=i.~--.\ir li. (Tommi-ell. \\'luil‘dinne.——.\ir \\‘. Reid. «"ipoiiki.#—.\lr J. 11. Reid. 'l‘Jurnngawilir li, 11. .\iends. Hnil‘l‘ilzl.v~~.\ll' 11. 1". Ford.