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11
The following statement indicates the amount borrowed
in each period of ten years from 1856 to 1886, and
the rate at which the different loans were obtained. From
1856 to 1866 the sum raised was £32,223, at £5 per cent.
per annum. In the next period, to the end of 1876, the sum
raised was £8,844, and the interest was £5 per cent. at the
early put of the decade, and 4½ and 3⅞ at the latter part.
Following this, the sum of £68,268 was raised in the ten
years ended December, 1886, and the interest was, in
the first halt of this period, 4½ and 4½, but in the latter part
it was 1 his sum of £68,268 included £24,800 raised for
the consolidation of previous loans borrowed at rates of 4¾,
4½, and 4½, and the new loan was obtained, as stated in
previous reports, at 3½. The sum therefore raised for new
works in the third period, from 1876 to the end of 1886, was
£43,468. The sums raised in the second period (i.e., 1866 to
1876) included the loans for the New Offices and for special
paving works.
The amount borrowed by the Board up to the
end of 1886 (exclusive of the sum raised for
consolidation of loans) was £163,535
The amount outstanding at Lady-day, 1886, was 56,222
Showing a total payment off the Loan Debt to
that date of £107,313
The foregoing statements with regard to the previous
Loan transactions of the Board were included in previous
reports. The Board again submit the information, believing
it to be of considerable interest to the ratepayers of the
District.