LOCAL BODY LOANS
SPECIAL BOARD OF CONTROL. (By Telegraph. Press Association.) WELLINGTON, Friday. The Local Government Loans Board Bill introduced to-day by GovernorGeneral’s message states that it shall not be competent for any local authority to borrow or contract to borroSv any money from: any source .or under any authority otherwise than in anticipation of its revenue without the previous consent of the Governor-General in 'Council given after compliance with the provisions of the Bill. The Local Government Loans Board which the Bill sets up is to consist of ■the enginteer-in-ohief of itlhe Public Works Department, the Secretary) to the Treasury, and not more than five other persons who are to hold office during the Governor-Gefferal’s ,pleasqre. A chairman may be appointed by the Governor-General from time to time from among the members of the Board.'" The Board, ay make rules governing its OAVn procedure.
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Bibliographic details
Waipa Post, Volume 32, Issue 1786, 24 July 1926, Page 5
Word Count
145LOCAL BODY LOANS Waipa Post, Volume 32, Issue 1786, 24 July 1926, Page 5
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