INCREASE IN OVERDRAFT
Slow Payment Of Rates
Because rates were coming in more slowly, and an early road-sealing programme had meant earlier payments, he had asked the bank to extend the overdraft from its current $9OOO to a peak of $16,000 in January, the Clerk (Mr W. F. Aydon) told the Wairewa County Council yesterday. “Rate payments are a little below half what they were at this time last year,” he said, reporting a debit balance of $3832 at December 8.
The chairman (Mr W. S. L Mcßae) said that though the financial position appeared to be precarious, it was not really so. Rates would be slow in coming in because the average farmer’s income was very much lower.
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Press, Volume CVII, Issue 31548, 9 December 1967, Page 14
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119INCREASE IN OVERDRAFT Press, Volume CVII, Issue 31548, 9 December 1967, Page 14
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