34
of the cost of the aerodrome to be
borne by Hong Kong funds.
The
basis proposed for sharing the cost
between H.M.G. and the Hong Kong
Government is that the former should
provide 3/4ths of the cost of acquiring
the site and rendering it as suitable
Calculated
for use as an aerodrome,/on the assumption
that the reclamation would be completed
by earth cutting on land, and the latter
should provide the balance and the
additional cost of completing the
reclaimation by dredging. On this
basis, according to the revised estimate.
of which a copy is enclosed, the
contribution of H.M.G. would amount to
approximately £178,000, while the
contribution on Hong Kong would be
approximately £120,000. This sum is
entirely beyond the present resources
of the Colony and can only be provided
by means of the loan which, as stated
above, it is now proposed to issue for
public