Waterworks
Aerodrome
72
1934
1935
1936
$3,000,000
$2,000,000
$1,650,000
Vehicular Ferry
Reimbursement to
Advance Account
$3,000,000
$2,000,000
$1,650,000
Total
$17,050,000
Say
$17,000,000
Note:-
849753/31
£30,000 to be received from the Imperial Government on completion of the Aerodrome has not been included in the above figures.
If to the above is added the cost of building a Gaol estimated at $4,500,000 spread over a period of 2 years commencing in 1932 at the rate of $1,500,000' the funds
p.a.
A
required would be
Marx cena choday
In 1931
$4,000,000
3836000
1932
5,000,000
5170000
19.33
4500000
4,500,000
1934
4,500,000
1935
2,000,000
1936
1,650,000
$21,650,000
165072v
21050 new money.
There is in addition the $5,000,000 Public Works
Loan 1927 to be considered.
This loan was issued at 6% and
has a 6.66% sinking fund designed to amortise the debt in 1938. The loan may be repaid in November 1932 and it would be desirable owing to the high rate of interest to repay the bondholders on that date or offer them conversion terms.
To do this would necessitate the raising of an additional $5,000,000 and increasing the amount of $5,000,000 shown in
1932