143

A.—4

Moneys the property of the Council are required to be paid into the Bank as soon as it amounts to twenty pounds. Accounts of revenue and expenditure are required to be kept, and to be balanced twice a year , and an annual balance-sheet to the 30th June must be prepared on or before the second Monday in July in each year The Auditors are required to audit the half-yearly balance-sheet, and to sign it "if correct"; but the Act is silent as to any proceedings to be taken if the account is incorrect. The yearly balance-sheet must be gazetted within a month after the Auditors have signed it. The Auditors may refuse to allow any one except the Chairman to be present at the audit of the accounts. The Council may make an assessment of the rateable property in the district whenever it thinks necessary, "to be made according to the principles following; " that is to say, according to the full, fair, and average estimated annual rent, " clear of all outgoings, at which such property would let from year to year, in " cases, where such annual rent, so estimated and clear of all outgoings, shall not " exceed the sum of fifty pounds, but in cases of property, where such annual " rent, so estimated as aforesaid and clear of all outgoings, shall exceed the sum of " fifty pounds, then the assessment of such property shall be made according to " the full, fair, and average estimated annual rent, clear of all outgoings, at " which the whole of such property would let for a term of not less than fourteen " years." Upon this assessment the Council may make rates not exceeding one shilling.in the pound for the year ending the following 30th of June, without the consent of the ratepayers in public meeting assembled, and, with such assent, not exceeding two shillings in the pound. The Council may raise loans subject to the following provisions The loan and the special rate to provide for its interest, must be agreed to in a public meeting of the ratepayers by not less that two-thirds of the votes given. The special rate must not, with all other rates for the year, exceed two shillings in the pound on the assessment, and it must be sufficient to insure the repayment of the loan, with interest, within fifteen years at furthest from the time of raising it, allowing 10 per cent, on the rate for collection and contingencies. The amount of the loans is therefore limited by the sum arising from a computation made on the above basis. The Adelaide City, Port, and Suburban Waterworks Act of 1874 is an Act under which the towns in the colony are supplied with water, and applies to twenty-eight towns named in the Act or in the Second Schedule to it, which are defined as the " water area." The Commissioner of Public Works for the time being is constituted the Commissioner of Waterworks for the purpose of administering the Act; and the power of appointing all officers, making assessments, collecting rates, and making regulations subject to the approval of the Governor, and of doing everything necessary for the construction and maintenance of the waterworks in all the towns to which the Act refers, is vested in him alone; as are also all the plant and machinery belonging to the works. The Act is an elaborate one, detailing with sufficient minuteness everything which may be done by the Commissioner for supplying water, and appears to be working successfully for the purpose. The Commissioner makes every year an assessment of the property in each town supplied with water, which is declared to be in force from the first to the last day of the year, and it is to be " made according to the full, fair, and average " estimated annual value of the lands and premises assessed, and clear of all out- " goings." This is further defined by a subsequent clause, which states that " The " annual value of all vacant lands shall be estimated at five per centum per annum, " on the market value thereof, and the annual value of all other lands shall be " estimated at the full, fair, and annual estimated average rent, clear of all out- " goings, at which such lands would let on a lease of not less than twenty-one " years, or by the foot frontage on a building or improving lease for the same " term," Instead of making a new assessment the Commissioner may take that in force in any municipality or district; and he is given access to all their ratebooks and assessment rolls for the purpose.

The Waterworks Act.