MOUNT EDEN ROADS.
FURTHER LOAN AUTHORISED. £11,900 TO BE BORROWED. | The resolution of the Mount Eden Borough i Council authorising the borrowing of i £11.900, which was passed at a meeting •in December, was continued at a, special ; meeting last night. The sum to be borrowed represents the amount expended by the council on road construction and other public works in excess of the amounts i already raised for these works. The loan i is to bo for a period expiring on October ■1. 1922, the rate, of interest not to exceed .5i per cent. The security for the loan ! will be a special rate of l£d in the £ ■on the annual value of ratable property in ! the borough. Mr. J. Davis, strongly opposed the resolution, expressing the opinion that the council would at some future date havo cause to regret the action taken. Mr. H. E. Bagnail also recorded his opposition to the resolution.
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Bibliographic details
New Zealand Herald, Volume LIII, Issue 16123, 11 January 1916, Page 9
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155MOUNT EDEN ROADS. New Zealand Herald, Volume LIII, Issue 16123, 11 January 1916, Page 9
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