OBJECTION TO LOAN.

Hauraki Plains Gazette, Volume XXXVIII, Issue 5165, 15 August 1927, Page 2

OBJECTION TO LOAN.

FORWARDED TOO LATE. COUNCIL’S FIRM STAND. The matter of the proposal to raise a loan of £4500 for street reconstruction purposes was introduced at Thursday night’s meeting of the Paeroa Borough Council by the receipt of an objection from Mrs Rihitoto Mata ia, Paeroa. The objection was lodged on tlie- grounds that all ih«r properties were- used solely for farming purposes, and that tlie land was already subject to special loans for streets. Further, the loan money previously authorised had been expended without benefit to the writer, and she was unable to pay any higher rates on any farm lands.

The Mayor (Mr W. Marshall) -said that the objection was from Mrs W. G. Nicholls, and that under tlie provisions of the Act it had been received six days after the advertised date for receiving objections: also, a letter ■had been received from tlie Local Bodies Loans Board asking for tlie council’s comments. He thought that in order that a local body should havesome finality a protest should be entered as to the objection being received after tihe- due date. Cr. E. Edwards said it might be pointed out that tlie objector’s land wo ’ld not be subjected to a much larger increase in rates. On the motion of the Mayor it was resolved to inform Mrs Nicholls that her objection had been received too late.

The Treasury wrote- as follows : —

“With reference to your letter of the 3rd inst., covering application for sanction of the proposed loan of £450'0, the investigations required bisection 5 of the Local Government Loans Board Act, 1926, are being proceeded with, and on completion of same- the matter will be submitted to the Loans Board for consideration and you will be advised of the result in due course.

“It is noticed that the; estimates include an item of £357 10s for halfyear’s interest and sinking fund on £6500. but the Loans Board will not sanction a loan for such purpose. When considering the previous application for sanction for the loan of £2OOO tlie board was unaware of your council’s intention to pay interest and sinking fund out of loan moneys, and such procedure should not be adopted.

“With reference to the .Normanby Road Special Rating Area loan of £lO6O, will you please state if that loan was intended to be used for the same purpose as that outlined in the third item of £he schedule of proposed works under the present loan ?” It was, moved by His Worship the Mayor, seconded by Cr. Flatt, and carried : “That a lettei- be forwarded to tlie Local Government Loans Board, stating that the council respectfully piotests against being asked to deal witli an objection received after the last day allowed by regulations; for the receiving of objections, as it is considered thfit if this were allowed, finality on this point may be more or less indefinitely extended, and also that tlie other matters referred to be left in the hands of, the Mayrfr for reply.”