BOROUGH INSURANCES
DUNEDIN OBJECTS TO DRAFT SCHEME NO ADVANTAGE LIKELY (From Our Oxen Correspondent) DUNEDIN. Today. The advantages to the Dunedin City Council in joining the proposed scheme of municipal insurance do not appear to the Finance Committee to be sufficiently evident to warrant the council taking part in it. according to a re* port to be presented by the committee at the next meeting. The report says that the council instituted its own guarantee fund many years ago and got through the initial years without any unexpected occurrence. The advantages to other boroughs are obvious and therefore the committee feels compelled to protest against any forced loan to provide for an extraordinary demand being made upon the fund, as suggested by the draft Bill. Such a guarantee, if it became necessary, should be provided proportionately by the several boroughs concerned, so that the advantages and liabilities could be adjusted on a rateable basis.
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Bibliographic details
Sun (Auckland), Volume III, Issue 762, 7 September 1929, Page 16
Word Count
154BOROUGH INSURANCES Sun (Auckland), Volume III, Issue 762, 7 September 1929, Page 16
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