Borough Loan Question.

Taranaki Herald, Volume L, Issue 12067, 9 September 1902, Page 2

Borough Loan Question.

MOTION BEFORE BOROUGH COUNCIL. At the Borough Council meeting on Monday night Mr Carter moved, That owing to the importance and urgency of the loan proposals, and with a view of giving an opportunity to e\ery Councillor to become acquainted with all details in connection with both the raising and expending of the lpan, a special loan committee Oe appointed, to consist of tho whole Council, with full power to consider all matters appertaining to the raising and expending of loan moneys, subject to and within limitations of section 60 of "The Municipal Corporations Act, 1900"; the committee to report to the Council in the usual way. Mr CarUr asked the Town Clerk to read section 60 referred to in the motion. The Mayor pointed out that as the motion referred to loan matters it was dc'sirnole the Council should go into Committee. He moved to that effect. Mr Stohr seconded the motion, which was carried. Mr Tisch seconded Mr Carter's motion. The Mayor moved as an amendment in effect that Mr Carter's motion be postponed till after the Finance Committee called the Council together to reconsider loan matters, which would probably be shortly after September IHth. Mr Stohr seconded the amendment which was lost. Mr Carter's motion was put end carried. On resuming tho motion was put *hnd carried. The Mayor said the ouorum for a committee of the Council would be 5 as provided by Jaw.