PIAKO COUNTY AFFAIRS

New Zealand Herald, Volume LXX, Issue 21577, 23 August 1933, Page 13

PIAKO COUNTY AFFAIRS

CONVERSION OF LOANS [from our own con respondent] TE AROHA, Tuesday Advice was received from the county solicitor at a meeting of the Piako County Council yesterday that the suggestion to convert only the loans at 6 per cenh was not, in his opinion, a satisfactory scheme and, besides involving extra work to group these together, would require an explanation to the Local Government Loans Board. The solicitor stated also that, after reviewing the subject, he had discovered that the council would have to find i'ooo to proceed with the total conversion of county loans and not ,£I2OO as reported previously. Mr. Lowr.v stated that, under those conditions, the position was now most satisfactory. The matter was finally loft in the hands of a sub-committee previously appointed to go further into the matter of loan conversion, with power to act. The question of the work of the Finance Committee came in for considerable discussion, members claiming that all business should bo treated in open council in fairness to the ratepayers, who would then be more conversant with the more detailed workings of the council. Mr. Lowry moved that the rmanee Committee bo retained and that any other councillor alio might dcsirt> to attend its meetings be invited to do so. J'he motion was carried