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42
Several meetings were held on the matter, when it was ultimately
Resolved That subject to the consent of the London County Couucil being obtained to
borrow the money, the Vestry purchase the freehold of Bull Head Dock and the Victoria Oil
Mills for the sum of £5000, with absolute vacant possession.
The consent of the London County Council having been obtained to borrow the sum of
£5000 for the purpose, and the Council having notified their willingness to advance the same
for a period of 55 years to be repaid by equal annual instalments on 28th February in each year,
and to bear interest at the rate of£3 10s. per cent, per annum, payable quarterly on 28th
February, 28th May, 28th August and 28th November, it was
Resolved to take up the loan upon these terms.
The purchase of the property had not been completed at the close of the year
Erection of Town Hall, Vestry Hall, Offices, &c.
As mentioned in the previous report the Vestry had resolved to purchase the old Drill
Hall site in the Lower Road for the erection thereon of a Town Hall, Vestry Hall, Offices, etc.,
subject to the sanction of the London County Council being obtained to borrow the money,
Application having since been made to the London County Council for their sanction to
borrow the money (£1100) for the purchase thereof, the Council notified their willingness to lend
the amount to be repaid by 50 equal annual instalments of £22 with interest at the rate of
£3 10s. per cent, per annum, payable quarterly.
This loan was taken up by the Vestry on 9th June, 1893.
Negotiations having been entered into for the purchase of the freehold and leasehold
interests in 85 and 87, Neptune Street (which join the old Drill Hall site) as an additional site
for the erection of the buildings, and £1250 being the very lowest sum for which the purchase
could be effected, and it being absolutely necessary that the additional site should be acquired
for the purposes of the Vestry's scheme for the erection thereon of a Town Hall, etc., the Vestry
agreed to the said terms subject to the sanction of the London County Council being obtained
to borrow the money
The matter was still incomplete at the close of the year.