In a significant financial development, the Kerry County Council has received a payment of £33,654 3s 1d from the National Bank. This sum represents the portion of the purchase price for the Limerick and Kerry Railway, which was agreed upon as part of the considerations for the charges paid by the guaranteeing baronies. The payment has been credited to the Kerry County Council’s account.
Out of the total amount received, £4,500 has already been utilized to reduce the rates. This leaves a remaining balance of slightly over £29,000, which is to the credit of the ratepayers in the guaranteeing baronies. In response to this surplus, the Kerry County Council has made a decision to reduce the rates by a quarter of the remaining sum over the next four years.
This reduction in rates will have a significant impact on the affected baronies, with a projected decrease of between 6 pence and 9 pence in the pound. The decision aims to alleviate the financial burden on the ratepayers and provide some relief over the coming years.
The Kerry County Council’s decision to allocate a portion of the funds to rate reduction demonstrates their commitment to supporting the local community and ensuring a fair distribution of resources. It is expected that this reduction will have a positive effect on businesses and residents in the affected areas, allowing for increased financial stability and potential for growth.
The settlement of the purchase price for the Limerick and Kerry Railway marks an important milestone in the ongoing development and management of the region’s transportation infrastructure. It showcases the collabourative efforts of various stakeholders in addressing financial obligations and striving for equitable outcomes.
The Kerry County Council will continue to monitor the impact of the rate reduction and assess its effectiveness in meeting the needs of the local community. By taking proactive measures to address financial matters, the council aims to foster a favorable economic environment for the residents and businesses of the guaranteeing baronies.
Kerry News – Monday 28 December 1903
