CITY COUNCIL.

Evening Star, Issue 3711, 14 January 1875, Page 2

CITY COUNCIL.

The special meeting of the City Council last night to consider certain financial matters was fully attended. FURTHER BORROWING. It having been explained by the Mayor that the meeting had been called to consider a proposal to raise the sumofL4s,ooo on credit of the city rates under the authority of the 98th section of the Corporations Ordinance, 1865, and to order the necessary mortgage bonds to be prepared and dealt with, the Council resolved itself into committee, and alter some discussion decided to postpone for a week further consideration of this matter, and of letters ’ from the manager of the Bank of New Zealand and from Mr Hankey’s attorney, the latter proposing to light the city lamps by meter. THE GAS WORKS. As the meeting broke up it was mention jd by Or Fish that it was propqspd to get up a company to purchase the gas works, part of the shares to be floated in London and part in Dunedin, whereupon Cr 11 eves intimated his intention of bringing forward, at the next meeting, a _ proposal that the Corporation should enter into negotiations with the present proprietary of the Gas >v orks for the purchase of the works, and that failing negotiations for the purchase being satisfactorily concluded, the Council immediately proceed to the erection of new works.