MOUNT ALBERT LOAN.

Auckland Star, Volume XLIV, Issue 48, 25 February 1913, Page 9

MOUNT ALBERT LOAN.

I APPLICATION RJEFXISED. t FU-BTHER EFFORTS TO BE MADE. The -Mount Albert Borough Council recently nvade an application to the Government for an additional loan of I £3.000. being an additional 10 per cent, on the original CJO.OOO loan for drainage purpose*. At larf. night's meetia" of the Council a letter wae received from the Prime Minister etalihg that he could not. ptace t.he application before the Board" lintir thp whole of the original loan had' been entirely and exclusively expended upon the works for which it wae raised. In any case, it could not he granted until the Depart-nrem. -was again in possession of funde. The. application could not. ihcref-firre. be entertained.

The Xlay-orfMr M. -J.Ooylelefcated that some time ago he and Councillor Harris had interviewed the Superintendent of the Advances OfhVp. who told Ahem there -would be no difficulty in jretting the money.

It was finally left in tile hande of the Finance Committee to m-.Lke further negotiations with thr (k)verntnenr; or to make u-rranspuiertts with a company for floating Uie loan. The .Mayor stated that the sum w:i* absolutely necessary ■for completing the work, and farthermore pointed out that it would not be necßseary for the ratepayers to vote •npoji the proposal.