CITY COUNCIL.
SPECIAL MEETING. A special meeting was held at 10 o’clock this morning, attire Council Chamber. Present—His Worship the Mayor, and Crs Jones, Schmidt, Thomson, and Havvkes. Dr Foster, City Solicitor, was also present. The Mayor said the first business to be brought before the Council would be in connection with the watering rate. Cr Jones moved —“That this Council hereby confirms the resolution to make a watering rate agreed to by the Council on the 4th day of October last.”
Or Thomson seconded the resolution, which was agreed to. His Worship said the next business to be considered was with respect to the loan. Cr Hawkes moved —“That this Council agrees with the proposition to borrow a sum of £9OOO at interest at the rate of 6 per cent per annum, to meet the expense of the works in connection with the drainage of the pity, which will be undertaken dm lug the
present year. The said amount to be raised on debentures of £SO each, bearing interest at 6 per cent, payable half yearly, issued for a term of fifty years; and second on a special rate of one penny in the £, payable half yearly.” Or Schmidt seconded the motion, which was carried. The Council then adjourned.
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Globe, Volume IV, Issue 434, 3 November 1875, Page 2
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210CITY COUNCIL. Globe, Volume IV, Issue 434, 3 November 1875, Page 2
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