CITY’S UNSPENT LOAMS
DIVERSION OF BALANCES COUNCILLOR RAISES QUESTION Following an investigation, Cr. J. 11. ■ Lundon has been making into certain | aspects of City finance, the substance of which he made known in a letter to the Press, the councillor has given notice to move this motion at the City Council meeting on Thursday:—“That the policy and practice obtaining in the City treasury regarding temporary loans, and the utilisation of unexpended balances of loans raised, after poll of ratepayers, for specific purposes, requires reconsideration and revision by this council with due regard to statutory requirements.” The City Treasurer, Mr. Andrew Messer, who was invited to comment on Cr Lundon’s letter, said that the practice of placing unexpended loan balances on temporary loan for general purposes had saved the City approximately £3,750 last year or the equivalent of 3-Sd in the £.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300623.2.7
Bibliographic details
Sun (Auckland), Volume IV, Issue 1005, 23 June 1930, Page 1
Word Count
140CITY’S UNSPENT LOAMS Sun (Auckland), Volume IV, Issue 1005, 23 June 1930, Page 1
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