TAUMATA HILL

Gisborne Times, Volume LXXIII, Issue 11842, 25 January 1933, Page 5

TAUMATA HILL

CONCRETING THE RESERVOIR

PROPOSED DIVERSION OF £SOOO FROM £175,000 LOAN.

A committee meeting o^..^ e . Uffi borne Borough Council was held oU Monday evening. The Mayor, Sir. D. W. Coleman, M.P., was W . thc chair, to discuss the present position in regard to the Tauniata Hill reservoir scheme. Those also present were: Crs. H. E. Maude, S.V. Beaufoy, J. W. H. Holmes, C Bradley Smith, A. S. Muir, and W..J. Mac Gibbon. The statement of the Knancia position of the Taumata Hill scheme and of the amount required to concrete the reservoir, as submitted to the last meeting of the council by e Mayor, was adopted, and it wa= re solved that application should be made to the Local Government Loans Board for permission to expend £oooo, the amount now required to complete the reservoir, out of an unexpen e balance of £9OOO of the £175,000 loan "It was pointed out that this amount was not needed for original purpose and that interest thereon was at the low rate of 4 per cent., with A per cent, sinking fund, and that if the course proposed were agreed to by the Loans Board, the council would have the advantage o carrying out the work this, summer, thus doing much to alleviate the un employment situation. In the event of the application to the hoard being unsuccessful, it .was pointed out that the whole proceedings would, have to be-started de novo.