Before entering upon the question which presented itself at the conclusion of the last chapter—that of endeavouring to ascertain whether the estimated net available income of Garden City (£50,000 per annum) would be sufficient for its municipal needs, I will very shortly state how it is proposed to raise the money required for commencing operations. The money would be borrowed on 'B' debentures, 1 and would be secured by a charge upon the 'rate-rent', subject, of course, to the payment of…