MAYORAL ELECTION

Otago Daily Times, Issue 26619, 15 November 1947, Page 4

MAYORAL ELECTION

Mr Cooney’s Candidature Mr P. L. Brown was in the chair at a meeting in the Eveline Hall on Thursday night, at which there were about 40 residents present to hear Mr M. F. E. Cooney's views in support of his candidature for the Mayoralty. Mr Cooney stated that he was not associated with any party, but was offering himself for the position as an independent. He dealt fully with the borough loans which were reconverted in 1934. and explained that the annual charge of £17,500 fixed the term of the loan, not the then council. The Government decided the term. It was suggested in 1934 that the annual charge be reduced by £I2OO to extend the term of the loan by four years, but this would have cost £35.000 more in interest. The council had reconverted groups making a saving of £4OO to date, and with further reconversion of groups in the next three years the annual saving in interest would be £BIO. Mr Cooney stated that the revenue m 1935 was £21,809, and no difficulty was experienced in meeting the sinking fund and interest charges, whereas in 1947 the revenue was £39,715. The borough was £IB,OOO better off. The trouble was that they were not getting enough value for the expenditure in the borough. He dealt exhaustively with town maintenance. reserves, and waterworks, and in conclusion paid a tribute to Mrs Cooney's services during her term of office as Mayoress, and outlined the progress and works carried out during his term as Mayor for five years. The candidate answered questions to the satisfaction of the audience, and was accorded a vote of thanks.