LOCAL BODIES FINANCE BILL.
In connection with the above Bill, the following motion was carried at Monday night’s Borough Council meeting, on the motion of the Mayor:—
“That, after due consideration of the proposals contained in the Local Bodies Finance Bill, 1921, this Council agrees with the provisions of the Bill, except that the time for repaying the antecedent liability should be extended to 10 years. In many eases overdrafts are of many years duration, and it- is unreasonable to expect ratepayers to contribute such large amounts annually to wipe out a liability of long standing. The difficulties surrounding the raising of a loan for the purpose are in many instances so great as to render this alternative useless at.the present juncture.”
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https://paperspast.natlib.govt.nz/newspapers/MH19211117.2.11
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Manawatu Herald, Volume XLIII, Issue 2356, 17 November 1921, Page 2
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122LOCAL BODIES FINANCE BILL. Manawatu Herald, Volume XLIII, Issue 2356, 17 November 1921, Page 2
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