TAURANGA LOANS.

Auckland Star, Volume LXVI, Issue 243, 14 October 1935, Page 8

TAURANGA LOANS.

COUNTY CONVERSION PLAN. PROPOSAL FOR NEW SCHEME. (By Telegraph—Own Correspondent.) TAURANGA, this day. ' I In view of the fact that he had been , informed that the proposed conversion i of the Tauranga County Council's loans on a ridings basis would involve harsh * treatment in many cases, Mr. P. J McKenna submitted a new conversion proposal at last week's meeting of the j, council. He explained that the rate- | payers who would be called upon to pay heavy additional rates on a ridings basis J had had 110 say whatever in the raising • of the loans over-special rating areas. (

A rate over the whole county was, he considered, the fairest way of loans conversion. Conversion on a county basis would mean that greatest rating increase would be in the Maketu Riding and to meet that lie suggested that a county loan of, say, £20.000 should bo raised, the interest for which would be met by the saving of £BSO resulting from a county conversion. With subsidy a loan of £20,000 would mean making about £80,000 available for roads, and lie suggested that a large part of that sum should go to the Maketu Riding to offset the rating increase there. He gave notice of motion to propose at the next meeting a conversion of loans on a county basis. The clerk said the decision as reached at the September meeting was to be submitted to the next meeting of the Local Government Loans Board. It was decided that the clerk should advise the Local Government Loans Board of the notice of motion that was to be tabled by Mr. McKenna.