ONEHUNGA LOAN.

Auckland Star, Volume XVIII, Issue 151, 29 June 1887, Page 5

ONEHUNGA LOAN.

Lively Meeting of Ratepayers

A meeting of the Onehunga ratepayers was held last night in the Public HalL Th Mayor, Dr. Scott, presided, and briefly stated that the meeting had been called to consider the advisability of levying a special rate of 6d in the £ in order to secure the interest and sinking fund on the L 5.000 —already sanctioned—which it was proposed to borrow from tho Government. He produced papers to show that all the former proceedings had been in'conformity with the Municipal Corporations Act, and that the previous poll was thoroughly legal. The reason for taking the second poll, he explained, was simply.economy. They had nowto consider the question of whether they should pay a high or low rate of interest on the proposed loan. At present the borough was responsible for the contract, L 5,500, as in the last year's balance-sheet that item was shown as a liability, and the AuditorGeneral certified to it; therefore, if they refused to sanction a special rate (which it was now proposed to take a poll upon) then the general rate would be used to pay interest on the loan. Mr Yates expressed the conviction that the firsb poll had been illegal. The mabter was discussed at some length, and ultimately Mr Sullivan moved, "That this meebing is of opinion that no poll be taken re loan for water and special rate, and that any further consideration of the matter be deferred until the town is in a position to bear tho burden of increased taxation." Mr Neilson seconded the motion. Mr Yates then tried to address the meeting amidst great uproar, and at 10 o'clock was compelled to retire from the platform, which was then occupied for another hour by Messrs Jackson and Wilson, when no decision was arrived ab and the meeting dispersed.'