“ PRACTICALLY BANKRUPT.”
A COUNTY COUNCIL’S DIFFICULTIES.
AN UNUSUAL PEED IC AAIE NT
[PEP PEESS ASSOCIATION.] 3 AY HANG ARE!, Sept, 19
Tho Cotlnty Council ivas askecl t° sign a joint and several guarantee to provide for .£17771 in excess of the overdraft limit at the Bank oh lu 1 "' Zealand. Four Councillors signed, two rot used. to sign, and three declined to say whether they would sign. £4OOO is required to carry on till tho rate is struck, but the members refuse to sign for the amount unless they are unanimous. One Councillor refuses because the meeting was open to tho press, so tup bond has not been entered into. As no funds are available to pay tor getting tho rate books compiled it >s impossible to receive any revenue. Tlio Bank will not honor any more cheques oo the. county is practically bank nipt.
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https://paperspast.natlib.govt.nz/newspapers/GIST19120920.2.49
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Gisborne Times, Volume XXXIII, Issue 3633, 20 September 1912, Page 7
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145“ PRACTICALLY BANKRUPT.” Gisborne Times, Volume XXXIII, Issue 3633, 20 September 1912, Page 7
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