PROPOSED PUNGAREHU LOAN.

King Country Chronicle, Volume VII, Issue 577, 18 June 1913, Page 5

PROPOSED PUNGAREHU LOAN.

SETTLERS DESIRE TO PROGRESS. At the meeting of the Waitomo County Council on Monday evening a deputation consisting of Messrs Quinlan and Lowry was introduced by Cr Were for the purpose of urging the Council to proceed with the necessary steps to raise the loan of £2900 for metalling the Pungarehu and Maire roads. Mr Quinlan said the settlers were aware that the Government Advances Department has been unable to advance the money, but they were desirous of getting the loan put through, and asked that the Council should endeavour to obtain the money from the Public Trust Office. The chairman pointed out that in the event of not obtaining a subsidy if the loan was raised from the Public Trust Office it would have to be taken up by the settlers. Mr Quinlan said they were aware of the position, and had decided to go on with the proposal. Of the amount of £2900 it was proposed to expend £2500 on the Pungarehu road, aud £4OO on the Maire road. If a £ for £ subsidy was granted there ! would be sufficient money to metal a mile and a half on the Maire road. However, if the subsidy was not forthcoming, they intended doing the best they could with the loan money. The signatories to the consent form were agreed on the subject, and he urgedjthe Council to proceed with the necessary formalities On the motion of Crs Were and Berry it was decided that the Council'authorise the raising of the loan of £2900, to be known as the Pungarehu loan, and the clerk be instructed to carry out the necessary formalities in connection with the same.