PUBLIC TRUSTEE AS SINKING FUND COMMISSIONER.
OBJECTION BY CTIY COUNCIL. Objection has been taken by the Chris-church City Council to the. provision in tho Local Bodies Loans Amendment Act 1908, appointing tho Public Trustee Sinking Fund Cb___ii_sioner of ail local body loans. Rejvorting on tho matter to the meeting of the Council last night, the Finance Committee expressed the opinion that the provision would operaite to tho disadvantage of local authorities, as a higher rate of interest on good security could be obtained than was paid by Government, and the Committee recommended that the _nembci_ for Christchurch and tho borough councils throughout the Dominion be written to, and asked to support, a proposal that the section bo atnendctd or repealed during next Session of Parliament.
The report was adopted
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Bibliographic details
Press, Volume LXV, Issue 13332, 26 January 1909, Page 8
Word Count
129PUBLIC TRUSTEE AS SINKING FUND COMMISSIONER. Press, Volume LXV, Issue 13332, 26 January 1909, Page 8
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