For some time past the Power Boards Association has been endeavouring to obtain legislative authority to allow one board to lend any surplus funds it may have to another board temporarily. The Minister of Finance has now informed Mr Nash, M.P., chairman of the association, that it is not considered desirable to grant such authority, adding that the proposal would possibly mean granting further powers to the borrowing board to borrow without the consent of the ratepayers and that difficulty would also be experienced in raising sufficient cash to meet the demand for repayment when the lending board required money. .
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Bibliographic details
Star (Christchurch), Issue 18042, 30 December 1926, Page 9
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100Untitled Star (Christchurch), Issue 18042, 30 December 1926, Page 9
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