HOKITIKA BOROUGH COUNCIL Friday, April 28th.

West Coast Times, Volume 29, Issue 11279, 29 April 1899, Page 4

HOKITIKA BOROUGH COUNCIL Friday, April 28th.

The Council met at 7.30, Present— Councillors Amberger, Keller, Heinz, Sbrthcrof t Clarke and Kirwan. Mr Northcrof t moved that Mr Keller take the chair. - Seconded by Mr Kirwan and carried. The minutes of the previous meeting were read and confirmed. (The Mayor (Mr Michel) here look his seat). The outward correspondence was read and approved. Inward Correspondence. From Manager, Bank of New Zealand? forwarding the usual forms with reference to the Counail's overdraft. — Received, the • .'ouncil's resolutions on the subject . to be forwarded to the Manager. From District Engineer, Greymouth, .stating the matter of danger posts had boen attended to.— Received. From Secretary, Westland Institute, asking for usual grant.— Received, the usual grant to be made. REPORTS. From Finance Committee, as follows : 1. That they have carefully examined the accoui ts as peij schedule annexed, amounting to £73 7s lOd and now beg to recommend them to you for paymeut. 2. That they have considered the circular received from the Djpfirtmenc of Agriculture with reference to the inspection of dairies, and beg to recommend that the Department bs informed the Council have no objection to the proposed alteration provided the Council is not saddled with the cost, — Received and adopted. MISCELLANEOUS. From Treasurer, reporting as follows : Receipts, £57 6s 3d ; Expenditure, £28 6s 9d ; Bank overdraft and unpre^nted cheques, £2497 7s ?d ; Charitable Aid account, £176 43 2J — Received and adopted. Mr Northcrof fc asked leave to move resolutions with reference to the Bank

overdraft. — Resolved that leave be granted. • £ Mr Noithcroft moved (1) That the ! Hokitika Borough Council in anticipation < of its current revenue, do borrow from i its Bankers, tha Bank of New Zealand^ 1 from time to tiaae, as required, by way of < of overdraft, any sum not exceeding thramount of its legal borrowing limit, at interest at the current rate of rates from time to time charged by th^ said Bank for overdrafts at Hokifcika, such interest to be computed asfiom the respective days of the mouey3 being advanced by the Bank, and to be considered as accruing from day to day and to be payable on demand, but unless ani until demanded to be payable un the last days of March and September in each year, and to be turned into principal on the balancing of the books of the Bank on those days, and thenceforth tr> become principal and bear interest accordingly at the rate before mentioned. (2) That the moneys so to be borrowed by way. of overdraft shail be drawn out oE the said Bank by cheques signed by the Treasurer of the Council and co mtersigned by two Councillors from time to -time appointed by the Council for that purpose, and every cheque so drawn and countersigned shall be a sufficient authority to the Bank to advance the amount therein named by way of overdraft to the Hokitika Borough Council and to charge the account of the Hoh itika Borough fund account kept with the said Bank, with that amount. — Seconded by Mr Keller and carried. Mr Northcrof t moved "That the overdraft at the Bank of New Zealand, Hokitika, standing in the name of the Hokitika Borough Fund Account an f l amounting on 31 S fc March 1399 to £1870 17s 6d, be hereby confirmed and the said amount of £1870 17s 6d be accepted as a liability of this Council for the enrrent y ear ." — Seconded by Mr Clarke and airtied. ._ . Th« f"cau««rthe'n adjourned.