XN000022-1980-10-15 — Page 7

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WEDNESDAY, OCTOBER 15, 1980

THE FOLLOWING IS AN EXAMPLE OF INTEREST CALCULATION:

$1 000 CERTIFICATES BOUGHT ON 1.11.80, 1.12.80 AND 2.1.81 RESPECTIVELY, SURRENDERED IN PAYMENT OF TAX DUE ON 2.2.81.

ON $1 000 (1.11.80

-

2.2.81)

3 COMPLETE MONTHS AT $6.80 PER MONTH

ON $1 000 (1.12.80 - 2.2.81)

2 COMPLETE MONTHS AT $6.80 PER MONTH

ON $1 000 (2.1.80 - 2.2.81)

$20.40

$13.60

$ 6.80

INTEREST ACCRUED

$40.80

(ROUNDED TO $41)

1 COMPLETE MONTH AT $6.80 PER MONTH

TUEN MUN TO HAVE NEW $8 MILLION SPORTSGROUND

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TUEN MUN WILL HAVE A FULL SIZED SOCCER PITCH AND A 400-METRE RUNNING TRACK BY THE END OF NEXT YEAR.

THESE ARE TO BE INCLUDED IN THE FIRST PHASE OF DEVELOPMENT OF A SPORTSGROUND TO BE BUILT ON A FOUR-HECTARE SITE NEAR TAI HING ESTATE,

ALSO TO BE INCLUDED IN THIS PHASE WILL BE FACILITIES FOR TRACK AND FIELD EVENTS, CHANGING ROOMS, AN OFFICE, STOREROOMS, A SPECTATOR STAND FOR 3 000 PEOPLE AND CAR PARKING SPACES. FLOODLIGHTING WILL BE PROVIDED.

WORK IS SCHEDULED TO BEGIN EARLY NEXT YEAR.

SIR SHIU-KIN TANG HAS AGREED TO DONATE $2 MILLION TOWARDS THE PROJECT WHICH IS ESTIMATED TO BE AROUND $8 MILLION.

THERE ARE PLANS TO BUILD A CHILDREN'S PLAYGROUND, A BASKETBALL COURT AND A MINI-SOCCER PITCH AT A LATER STACE.

A SPOKESMAN FOR TUEN MUN DISTRICT OFFICE SAID A STANDARD SIZED SPORTSGROUND WAS URGENTLY NEEDED IN THE NEW TOWN WHOSE POPULATION WOULD ALMOST DOUBLE TO 200 000 IN TWO YEARS.

FOOTBALL MATCHES, SPORTS MEETINGS, RALLIES AND FESTIVALS WOULD BE HELD AT THE SPORTSGROUND IN FUTURE. THIS WOULD HELP IMPROVE SPORTS STANDARDS AND HELP DEVELOP A COMMUNITY SPIRIT AMONG LOCAL RESIDENTS, HE SAID.

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