SINKING FUNDS
(To tho Editor of the Herald.) Sir,—-“Enquirer” asks why so .many local bodies have been attempting to remove their sinking funds from -tjie control of the Public Trust office. The. answer is not far to seek. The eight or 10 members of the average local body, with their officers, usually number one or two men who are in touch with current events, and who, in any case, have the advantage of information supplied by the various local body associations. The result is that they’ often get the strength of the position in advance. Our Harbqr Board, for example, guided by a far-seeing secretary, withdrew' fts funds from the Public Trust office several years ago, and is now reaping -the benefit of its move. The Power Board as early as June foresaw that statutory interference must come sooner or later, though as it turned out, its move was made too late. It was a case of fast past tho post.—Yours, etc., TOO LATE.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17955, 6 December 1932, Page 9
Word Count
164SINKING FUNDS Poverty Bay Herald, Volume LIX, Issue 17955, 6 December 1932, Page 9
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