that any interest obtained by deporting this first instalment of "at a Bank might be credited to this "Fund, wheretz the future " calls upon each lotholder " will be protanto reduced.
I am disposed to take that view (because the first instalment, viz. 25 percent of the estimated cost of the work, paid before the works were begun, interest on it will have been spread over some years;
I do not think that there are any grounds for allowing interest on any instalments beyond the first, since subsequent instalments are only to be called for as money is required to be spent and will not therefore be lying idle for any lengthened period.
It appears from your desp. no. 205 of 28th Oct last, that an expenditure has already been incurred on Sections 1, 2, & 3, to the extent of a quarter of the estimated cost of Sections, 1, 2, 3, & 4, and therefore in excess of the first instalment paid.
[See Schedule of Ord. 16/1889]
[19968]
that " any interest obtained [a 6234 by deporting this first
of the Frend
instalment of
"at a Bank might jüulz "be credited to this "Fund, wheretz the future " calls upon each lotholder
" will be protants reduced.
dispored to
carcér
Jaz
Jam
that
view (because the first
instalment, vij. 25
percent of the estimated
was
enst fine leagaisgo!
of the worker, paid befor the works
were begun, intes90r
dast Migran Mandaper the and
the expenditure of that
will have been
mistalment period of
A
over some
A
spread
A
but
years;
I do not think that there are any grounds for allowing
as
Po
being a frie Equitable arrangement
[See Schedule of Ord. 161889]
[19968]
interest on
any
vistal.
ments beyond the first,
Since subsequent in 190
stalments are
Amarty
only to be called for
In money
Ito be spent
Demy
is required)
I need not therefore idle for any
be lying
lengthened period.
appears from
Luc. in
21
the second
you desp. no. 205
of 28th Oct last, that an expenditure has already been incurred fections 1, 2, 3870%.
the Reclamation Execadig them a quarter of this
Mosa
Estimated cost of Sections, +8. and therefor in excess of the first unstalments paid
xccant.
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