LOCAL BODIES LOANS
PRIVATE BODIES' POWERS. t>r>—Press Association. Wellington, Yesterday. A question nf importance •to local bodies was decided to-day by, the Hon. Justice Cooper in the case of the Gi#- < borne Borough Council v. the A.M.P. Society. The Court decided, first, that the •' Council has power, under Section 3 of < ' the Local Bodies' Loans Act, 1008, or otherwise, to borrow money to carry out ■ works which it is authorised to con-' struct, although such works may ijofc be expressly authorised to be constructed out of borrowed money; second, that {he Council is authorised or empowered on*. 1 der the statute to raise a special loan or loans for specified Works which it has statutory power to construct; and, tbitf* that the A.M.P. Society can safely lend sums amounting to £35,000 to plaintiff Council, together with 10 per cent, on ■- the loan already raised, for the purpose of carrying out the specified works, Nft , •rder as to costs was'asked for.
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Bibliographic details
Taranaki Daily News, Volume LIV, Issue 284, 28 May 1912, Page 5
Word Count
160LOCAL BODIES LOANS Taranaki Daily News, Volume LIV, Issue 284, 28 May 1912, Page 5
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