Loan Procedure.

Taranaki Herald, Volume L, Issue 12277, 9 June 1903, Page 7

Loan Procedure.

COUNTY COIINCiL AND TREASDRiT. v UNSATISFACTORY DELAY. At' the County Council i on Monday several telegrams as between the County- and the ' 'treasury Department were read as,. follows :—: — , , i'WMay '3lst the'^ +r Trea^ury wirdl.:' £4000 ' loan Imay apparently be granted if all steps arc taken as required by sections 7 to 13 of the Local Bodies Loans Act, 1901. l On June 6th the County Glei\k telegrapWd to ' the Treaswry : Council, anxi'olis to draw on bridge loan. Please afcl.vise if work can {proceed. On the same date the Treasury replied': Unless your Council applies for £•1000 loan under sectiou 78 of Local Bodies Loans Act, 190-1, • all steps rmist be taken as required by sections 7t013 of that Act. . - 1 The County Clerk replied onHhe same date : All stops taken accorcHng to Act. See my letter to you ?stk Mhy. Can Council rely on "getting tho advance as matter very urgeiit V ' To this the Treaswry rdplied on the 3th : If £4000 loan is applied for' under section 78 Local Bodies Loans Act 1901', evidence m,ust be supplied that required procedure has been adopted. No money available until this is received.' ■ , . The Chairman said all steps ha f d been taiken as . rcqjuiratl, and everything forwarded to Wellington. Tito Council he said wantacl to be certain the money was available befekre iuiy liability wa.s incurred in respect of. woiik. . . v,,,, Mr Brown HUggestcd.., applying for a certain ainxwnt for - a certain work, and 'moved that £1000 be applied for. for ihe Ngatoromii bridgci The motion was sccon'deci and carried. . ,