CO129-576-4 Loans for public works 3-7-1939 - 4-1-1940 — Page 4

4

122 * 123

× 1939 Ests. pp.

I

§ do.

Schedule]

© footnote to Schedule

end. to (1)

I End. 6 to 2)

on 53642/39 (Financial retions)

I

however, appears to be as

follows

Item & consists of two sub-items, (a) The Central Market (b) the Wholesale Market. It had previously been estimated that the former would cost $900,000 of which $184,687.50 was to be met out of the 1934 Loan and $115.: the future loan?

$115,312.50

out of

At that time the expenditure (a) was expected to be $699,846.77 ($) $14,900

Now, however,

in 1938 on

and on

§

The estimated cost of (a) has risen to $900,106.10.0 At the same time the extenditure in 1930 has thored out to be much less than was expected when the 1939 Estimates were

(a) having been $545,301.90 only a

($) $14,873.15+ Nothing

framed,

more will

That on

that on

(($2695) be spent on (3), the swings are transfered to (a).

Also, it has been possible to increase item 8 by $75, 411.75, by reducing other items correspondingly. It is therefore $50,000 # 115, 312,50) of cost against the futive loan, and the

proposed to charge only goo

rest against the 2934 one.

that is to say

$860,126.10 instead of $704, 687-50.

It would have saved a

great deal of

calculation and research if this had been explained in the dest, or On the Financial Sec. in his statement. I assume it is correct, as it fits in with the figures, but ? it might be as well, in approving the

resolutions, to say that the assumptions as set out above have been made,

As regards The "futwe loan" to which The Third resolution relates, and to which

[The