LOCAL BODY FINANCE

Press, Volume CI, Issue 29766, 8 March 1962, Page 14

LOCAL BODY FINANCE

Corporation Proposed ( N.Z. Press Association) AUCKLAND, March 7. The Government will be asked to set up a committee to consider the proposal for a local body finance corporation to overcome the loanraising problem, delegates to the Municipal Association’s conference were told today by the secretary (Mr C. L. Bishop). He said the committee suggested would consist of representatives of the Municipal and Counties Associations. the Treasury and any other Government departments necessary. A remit submitted by the East Coast Bays Borough Council urging that a corporation be set up was carried by the conference. The Mayor of East Coast Bays (Mr R. H. Greville) said finance problems of local and ad hoc bodies were rapidly reaching a climax. Mr Greville said the Education Department had built three schools on sub-stand-ard roads in his borough. About 1200 school children were endangered, and the dust nuisance had become intolerable. "The estimated cost of reconstructing the roads is £70,000,” said Mr Greville, "but after five months we are still waiting for loan approval. and will then face an almost impossible task to raise the money.” The Mayor of Wellington (Mr F. J. Kitts) who seconded the remit, said he was disappointed the Minister of. Internal Affairs (Mr Gotz)' had not referred to the situation in opening the conference. The Mayor of Mount Roskill (Mr K. W. Hay) said it was the most important issue before the conference. “We should leave no doubt about the attitude of the association.” said Mr Hay. “It is one of unanimous support for the establishment of a finance corporation.”