POWER BOARD FUNDS
INTER-BORROWING PROPOSAL TURNED DOWN Bf GOVERNMENT <Per Press Association). PALMERSTON N., Dec. 2!». For some time past tho PoweP Boards’ Association has been endeavouring to obtain legislative authority to allow one Board to lend any surplus funds it m,ay have to another Board temporarily. Tho Minister of Finance has now informed Mr J. A. 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 powere to a borrowing Board to borrow without the consent of the ratepayers, and that difficulties would be experienced in raising sufficient cash to meet a demand for repayment when the lending Board required money.
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Bibliographic details
Wanganui Chronicle, Volume LXXXIII, Issue 19733, 30 December 1926, Page 9
Word Count
117POWER BOARD FUNDS Wanganui Chronicle, Volume LXXXIII, Issue 19733, 30 December 1926, Page 9
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