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Rates Revolt Looms?
Published: 16 Jun 2016

Rates Revolt Looms?

If the District Council continues its "we know what's best for you stance" there is every chance a rates revolt could occur when the ratepayers realise that they are in the gun for unnecessary rates of $79million spread over 25 years.  This is the difference in loan servicing charges between the proposed borrowings of $42million for the Cardno plant and a much lower figure of only $18million for a plant which will work and which the Mayor and Councillors do not wish you to know about. The aforementioned $79milion is made up of lower loan servicing charges $41.5million based on an average interest rate over the term of 5%, and operational costs savings of $37.5million - being $1.5million a year for 25 years.

Come on ratepayers. Tell the Mayor and Councillors you demand that they halt the signing of the Cardno contract until the alternative proposal has been given a proper hearing.

Graham Adams

Chairman, Ratepayers Assn.

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