1927 PAVING LOAN

Dominion, Volume 25, Issue 293, 6 September 1932, Page 10

1927 PAVING LOAN

Utilisation of Balance CITY COUNCIL DECISION Application is to be made by the City Council for legislative authority to devote the balance of money raised under the 1927 paving loan to other necessary works. At a meeting of the finance committee of the Council last evening, the Mayor, Mr. T. C. A. Hislop, said that, as a result of the loan, there was sufficient money left to carry out the widening of Wadestown Road. The town clerk had recommended that the Government should be asked for permission to spend the money on various works, subject, of course, to the approval of the Loans Board. It was quite clear that there was more money in the loan than was needed for the actual purposes for which it had been raised. A Councillor: What is the balance? The Mayor: Somewhere about £20,000. Iu view of the unemployment position and of the various urgent works we cannot go on with, I think it is desirable that we should' get authority to use this money for such purposes as the Loans Board will approve of. This balance will enable the widening of Wadestown Road to be proceeded with, together with other works such as attending to the surface of Lambton Quay. Councillor W. H. Bennett said he was not in favour of diverting the loan from its original purpose. The Mayor said that the balance in question was for such street sealing as was deemed essential. He mentioned the state of Lambton Quay wood-block surface as an Instance of where it was •necessary to preserve the city’s assets. The proposal had to receive the approval of the Government Loans i Board.