OAMARU HARBOUR BILL.

Dominion, Volume 4, Issue 941, 7 October 1910, Page 6

OAMARU HARBOUR BILL.

:,''■ The :report;of the committee .on .'the Oamaru, Harbour Board,. Enabling Bill was presented to the House' yesterday .-it states that.it. has been deemed advisable to make provision for permitting the board to pay to the holders who receive £17 for each, debenture held by them, the balance : of <£53,,0r such less sum as they, may have :paid for the same, as, and when, the funds.of the board may permit. It may be. that the board may-procure an advance from the New Zealand State Guaranteed . Advance ; '; Board, and : ,'an amendment has been made to enable this to be dono if necessary. As it may not be necessary to raise the whole sum' of mentioned in the Bill, the words "or such loss sum ; as may be considered by - the board necessary. ■ for the ■: purpose": have been added. Provision is made for dealing with excess of money which'may have been borrowed by adding words pro-, viding that the excess is to go in'aid of the_ sinking, fund;,. It was thought, expedient that, the proposal to be submitted to the.ratepayers should be set'out more explicitly. The Bill has been amended accordingly..: It was represented that it would be wise to provide for a second poll in' case there was-a closo voting at tho first; poll, but not a sufficient majority. An alteration. in this direction has been made. ..The excess collected in respect of rates is to bo added to 'tho' sinking fund, instead of being paid-into the general account. .