LOCAL BODIES’ FINANCE
ESTABLISHMENT OF CORPORATION
PLAN TO BE PUT BEFORE CONFERENCE
(New Zealand Press Association) AUCKLAND, January 12. A remit advocating the establishment of a local authorities’ finance corporation is expected to arouse interest at the annual conference of the Municipal Association in Auckland in March. Arrangements for the conference were discussed when the association’s secretary (Mr C. L. Bishop, of Wellington) met the Mayor of Auckland. Mr J. H. Luxford, and the Town Clerk (Mr T. W. M. Ashby) today. Advocates of a finance corporation believe it will overcome problems arising from local bodies competing with one another on the money market. The Government will be asked to contribute towards the initial capital of the corporation. Mr Bishop said today that the association might set up a special committee to frame a definite scheme. An emergency committee of the association will report to the conference on a move to get the Government to pay rates on Crown property, particularly houses occupied by State employees. The association has made a survey of local bodies’ rate losses. Auckland and Wellington are said to suffer severely because the State is a Hi*’ property owner in these cities. Taihape, with its high proportion of railway property, and Devonport. where the Navy occupies a large area of the borough, are also seriously affected.
The emergency committee is expected to. wait on the Minister of Internal Affairs (Mr S. W. Smith) before the conference. The association’s president, Mr N. H. Moss, Mayor of Stratford, will preside over 350 delegates at the conference. *
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Bibliographic details
Press, Volume XCI, Issue 27556, 13 January 1955, Page 8
Word Count
258LOCAL BODIES’ FINANCE Press, Volume XCI, Issue 27556, 13 January 1955, Page 8
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