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11
The Precept of the School Board was for the year ended
the 25th March, 1889.
The Precept of the Metropolitan Board was for the year
ended the 31st December, 1888.
It was necessary for the Metropolitan Board to issue a
further Precept to meet their expenses and liabilities to the
31st March, 1889, at which date it had been arranged that
they should cease to hold office, according to the Local
Government Act, 1888, and on the 7th February, 1889, this
Board received a further Precept for £6,514 3s. lId., payable
on or before the date named. This sum was subsequently
paid over to the London County Council.
It has been decided under the provisions of the Local
Government Act that the expenses of the London County
Council must be raised as a County Rate. These expenses
will therefore, in future, be raised through the Guardians
of the Lewisham Union, instead of through the District
Board of Works as has hitherto been the custom with regard
to the expenses of the Metropolitan Board of Works.
LOANS.
The total indebtedness of the Board on the Loan account
at the 25th March, 1889, was £53,883.
During the year the Board paid the sum of £5,349
in reduction of the mortgages owing by them. The Board
raised the sum of £2,100 for new works and improvements,
and the following sums for special works, viz.:—£600 for
works at the Silk Mills Weir, at Lewisham; £1,600 for laying
out and forming the Penge Recreation Ground; £575
for an Improvement in the Road under the bridge of the
London and Brighton Railway, in Beckenham Road; and
£1,950 for Surface Drainage Works in Penge, for the relief
of the sewers in times of storm and flood.
The following statement of the loan debt will show the
reduction made in the five years ended 25th March, 1888,
and the amount outstanding at the end of each financial year in that period.
The amount outstanding at Lady-day, 1883,
was £65,841.