BOROUGH ACCOUNTS
SAVING IN INTEREST [by telegraph—OWN correspondent] OPOTIIvI, Friday The Opotiki Borough Council recently asked the Bank of New Zealand to allow the credit balance standing to the council's wharf account to bo offset against the debit balance in the district fund account, but the bank refused. This meant heavy interest charges to the council. To overcome the difficulty the council held a special meeting and unanimously decided to have only one account at tho bank, with separate accounts kept in the council's books. This action, it is stated, not only saves interest charges, but is the correct and legal procedure.
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New Zealand Herald, Volume LXXI, Issue 21769, 7 April 1934, Page 10
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102BOROUGH ACCOUNTS New Zealand Herald, Volume LXXI, Issue 21769, 7 April 1934, Page 10
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