CONFIDENTIAL
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11.
If the urban Jouncil failed to raise money in the market
then it would be reasonable for Government to consider making a loan as a temporary charge on public funds, for a project
included in the Urban Council's budget.
12.
The Urban Council would of course be free to meet capital expenditure from recurrent income (i.e, from rate or fee income) instead of from borrowings.
13.
A decision will be required on the disposal of the many Urban Council items at present appearing in the Public Works Progra.nne. Both to maintain the impetus of the Urban Council's progrannes, as well as to assist it in the transitional period during which it will have to decide on its future arrangements for buildings and works, the proposal is that the Public Works Department should (if the Urban Council so wishes) complete at Government expense all projects in Categories A, D and E of the Public Works Programme on a date to be agreed, with the Urban Council; other new items not now in Category A, such as the new stadium at Hung Hom, might have to be added to this list, in Categories A, D and I are estimated to cost about $17 million, excluding Jockey Club projects estimated at about $24 million.
14.
Items currently
The Urban Council will have to set up its own architectural section manned by seconded Government servants, either to oversee work done for the Council by private architects Until such staff or to handle all projects from start to finish.
have been recruited, there would be no objection to the Public Works Department taking on projects in addition to those mentioned in paragraph 13, the Urban Council meeting all costs (including supervision costs).
15.
A decision on the lines suggested in paragraph 13 above would make it reasonable not to include any provision in the initial rate for buildings and works projects. The urban Council would then have plenty of time to devise a building progranne and plan its borrowings accordingly."
CONFIDENTIAL
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