3.
pay Crown rent to this Government at the rate of 4% on
the sum so expended. At present the aggregate Crown
rent obtained from land in this area amounts to $92.50
per annum, but it is not proposed to require this from
the Club in addition to the Crown rent mentioned in
Clause (f) of the Memorandum.
7.
I have the honour therefore to recommend
for your approval the expenditure of a sum not exceeding
$50,000 for the purposes and on the terms outlined above,
subject to the concurrence of the Legislative Council.
I have the honour to be,
Sir,
Your most obedient, humble servant,
fold. hortust
Governor.