PROVISO TO £173,000 BOROUGH LOAN POLL

Northern Advocate, 3 December 1947, Page 2

PROVISO TO £173,000 BOROUGH LOAN POLL

IF the Whangarei Borough Council's £173,200 loan proposal is carried, the Government will be recommended to issue an order-in-council for only £40,000, applications for further amounts having to be made to the Local Government Loans Board.

So the council was informed last night in a letter from the board advising that it had sanctioned the proposal for submission to a poll of ratepayers. It had been decided, however, to make the proviso after a full review of the capital expenditure contemplated by the council, or likely to be necessary m the next 10 years. SUBJECT TO REVIEW

paper should be submitted for perusal. Notification of the result of the poll should be given to the board and the Minister of Finance.

It was decided to agree to the terms and to hold a poll of ratepayers on February 11.

Cr J. F. Johnson suggested that the ratepayers should be informed of the proposal at a public meeting, the Mayor (Mr W. Jones) agreeing and adding that two meetings should be held, one at the Town Hall and the other at the northern end of the town. OTHER I.OANS This question was referred to the public relations committee with power to act. At a special meeting prior to the ordinary meeting, the council decided to raise a ■ special loan of £I7OO for flood damage rebuilding and restoration.

The board considered that the financial capacity of the borough to undertake the contemplated works was dependent to a certain extent upon anticipated development being fully realised and, therefore, expenditure under the loan authority should be subjected to review from time to time.

It was considered that £40.000 would be ample allowance for the first two years’ work. The board requested that, before the poll was taken, a draft of the voting

At the subsequent ordinary meeting it was decided to proceed with the cemetery extension loan of £9OO for ine purpose of buying extra land for burial purposes.