THE HOSPITAL LOAN
GOVERNMENT FINDS HALF BOARD MEMBERS ENLIGHTENED Considerable surprise was. registered by some of the new members* of the Whakatane Hospital Board yesterday when the requisite resolution empowering the issue of debentures for the £45,000 loan was under discussion, to discover that 50 per cent of the money was met out of Government subsidy and tationThe secretary (Mr Alan Bridger) had just explained that the annual levy would be the sum of £2715, to meet interest and sinking fund over a period of 25 years,, when the chairman observed that half that figure would be. met by 'Government contribution. .Mr Mullins: That means then that the ratepayers are actually finding £22,500—n0t the full £45,000. The chairman: That isssto t plus part interest as wellMr Mullins: That softens the blow quite a lot. I don't think many of the ratepayers realise, that! Mr McCready: I think they do. Mr Caulfiekl: Well I didn't anyway . Mr McCready: It's the poor value for the money to which I am objecting. That's the big thing!
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Bibliographic details
Bay of Plenty Beacon, Volume 7, Issue 98, 14 July 1944, Page 5
Word Count
173THE HOSPITAL LOAN Bay of Plenty Beacon, Volume 7, Issue 98, 14 July 1944, Page 5
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