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than 15 members. The commit- tee reported back to a public meeting 'on the possibilities of i an com- ity-wide support, wi e addition of other recreati facilities at a later date. The three-man committee was: C. C. McGibbon, QC, chair- man of the regional planning board; S. T. Hopkins, account- ant; and Keith Ross, secretary, Oshawa and District Labor Council. . Mayor Lyman Gifford pre- sided and City Clerk L. R. Bar- rand acted as secretary. After a short address by the Mayor, Reginald Bryant, a pri- vate citizen, said he did not favor a project that would cater for a limited section of the com- munity but that the needs of all should be considered. Ivan Richards, private citi- zen, said an arena was first in the minds of Oshawa people. A community centre had been con- sidered in the past but had been turned down. Many other citizens expressed opinions on the sort of building needed. 'FINANCIAL SET-UP IS EXPLAINED Civic Auditorium pledges and donations have come in so well during the past 18 months that the city has not yet had to bor- row any money to help pay con- struction bills. Oshawa City Council has au- thority to borrow up to $850,000 to pay construction and furnish- ing bills..Here's why: --The great bulk of the pledges for what was estimated at $1,200,000 for the all-purpose building have been promised over a three-year period. --This means that although the total cost of the recraation- centre nucleus is "'guaranteed,"" much of the money will have to be paid out before all the ign monies are in. eneral Motors of Canada Limited pledged $250,000 alone. GM workers promised another $470,000 on payroll deducation. Other local plant deductions add up to $155,200. Miscellaneous pledges of close to $191,200 as- sured the financing of the pro- ject. When city council passed the bylaw authorizing the city to build the Auditorium, the way was open for the application toe the Municipal Works Assistance Fund to borrow up to two-thirds of the project's total cost. LATEST REPORTS Latest financial report shows 48 per cent of the pledges in, representing $516,983 of the $1,066,391 due. On top of this are cash dona- tions of $129,265 and sundry monies, bank interest and Vari- ety Night proceeds adding up to $18,718. Grand receipts total as of the middle of November was $664,968. City finance chairman Ald. Walter Branch (he is also chair- man of the five-man Auditorium executive committee overseeing éonstruction) reminded recently that even if the city is -- ed to borrow the.entire amount ($850,000), only $638,000 would have to be paid back. "This was a reference to the forgiveness clause, a part of all the federal-municipal loan fund agreements, which allows a municipality to pay back only THE OSHAWA TIMES, Thursday, December be 1964 SA Pledges, Donations Flow In 73 per cent of the amount bor- rowed if the project is finished before March 31, 1966. In Oshawa's case, this would amount to a "saving" of $212,000 provided the whole $850,000 were borrowed. On a 12-4 recorded vote! < during a special council meet- ing in December of last year, [ ' OSHAWA. The Citizens of Oshawa whose overwhelming support in donations and pledges made our new Civic Auditorium possible. Wood. PRODUCTS | cou RTICE OSHAWA SHOPPING CENTRE '20 ill Bes WwW. L. WILSON Vice-President and General Manager Cc. 0. MILLS President By Every Man, Woman, and Child! This is the contribution represented by the completion of the Oshawa Civic Auditorium. But this contribution cannot be counted simply ia dollars and cents .. . it must also be counted in terms of the faith and interest of our citizens in cultural needs and future growth of our community. ; PONTIAC BUICK VAUXHALL ACADIAN G.M.C. BEDFORD Sales and Service We, at The Cliff Mills Motors, are proud to be a member of this civic- minded and far-sighted community. We extend our sincere "well done" to those who made a "dream" become reality. And a very sincere "well SO A S0 HhOnp WRN: eaten eek eyes: See tole reality possible. | the CLIFF MILLS MOTORS ua 266 KING ST. WEST ne sy Nga PH. 723-4634