Manawatu Herald. THURSDAY, MAY 28, 1903. The Loan Money.

Manawatu Herald, 28 May 1903, Page 2

Manawatu Herald. THURSDAY, MAY 28, 1903. The Loan Money.

From a discussion at the last meeting of the Borough Council it appears that members think they have the power to alter the expenditure authorised under the vote obtained for. the loan. To Councillors who may not have carefully looked into the Act we advise caution as the items mentioned in the voting paper for each work binds the Council, out of the proceeds of the loan to spend no more than that specified, whether necessary or not, and it must strike all Councillors, if, as they seem to think, sufficient money has not been set apart for the first roads they have commenced upon, probably the same deficiency has occurred in all, and in fairness to all no more work should be done out of loan money than that already scheduled. If further expenditure is startlingly necessary then Councillors must face it out of ordinary revenue, but any tampering with the schedule voted is not only breaking faith with the public but might cost Councillors who vote in that direction a larger sum than they receive for their services. Dealing with loans cannot be lightly treated as is sometimes the way the rates are, and we should much regret to see any trouble arising owing to misapplication of the first loan money secured in this town. The desire to make a job perfect for which provision has not been inade, must be resisted unless the current revenue is deemed sufficient.