THE BOROUGH OVERDRAFT.
EEDUOED TO £2,300. In tke course of the proceedings at the meeting of the Borough Council on Thursday the Mayor (Mr Thos. Eadford) gave notice of motion as follows : —"I hereby give notice that I will move at the next regular meeting of the Council: " That the re : solution fixing the overdraft limit at £2,600 be rescinded, and that iv lieu thereof I will move : * That the overdraft limit be fixed at £2,300,'" # I The Mayor stated that in moving ! in this direction he did so because it was now perfectly safe, as far as the Borough was concerned, to limit the overdraft to £2,300. At present the actual overdraft stoccl at £1,928, and there were outstanding accounts amounting to £118 16s 3d, including £54 16s 3d to the Hospital account. The.sum of £75 was Still due from the Government as subsidy on the Tararu road. Under the circumstances the limidation of the overdraft as proposed •would nofc hamper the Borough.
Councillors expressed their ap« proval.
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Bibliographic details
Thames Star, Volume XXVI, Issue 8075, 21 June 1895, Page 4
Word Count
169THE BOROUGH OVERDRAFT. Thames Star, Volume XXVI, Issue 8075, 21 June 1895, Page 4
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