WAIPA COUNTY FINANCE

New Zealand Herald, Volume LXXII, Issue 22247, 23 October 1935, Page 17

WAIPA COUNTY FINANCE

LOAN CONVERSION SCHEME INTEREST ARREARS PROBLEM [FROM OCR OWN correspondent] TE AWAMUTU, Tuesday "It seems to me to savour too much of a threat," said Mr. J. T. Johnson at yesterday's meeting of the Waiya County Council, when a communication was read from the secretary to the Local Government Loans Board advising that the council's loan conversion scheme affecting existing securities amounting to £lO-5,000 had been approved subject to arrears of interest in respect to Tuatuamoana drainage district loans being paid before the date fixed for conversion. The chairman stated that about £6OO of arrears of rates were involved. The county had been compelled to take o\er the Drainage Board's affairs, and that imposed a penalty on the whole county. Now the Loans Board was adopting an arbitrary attitude. When in Wellington recently' he had complained to the Minister, who promised to look into the matter. However, no reply had been received. The council decided to make urgent representations by telegraph to the Minister in the hope that some redress could be provided in the ashing-up Bill before Parliament rises.