Raumati Paraparaumu Community Board members Guy Burns and Bernie Randall welcome the recommendation from Kapiti Coast District Council staff that Council cease pursuing a grand plan to borrow funds for investment purposes.
“Pressure from ourselves, the Auditor-General, public opinion and others has rattled the Mayor who quickly jumped ship late last year after realising the borrowed funds scheme will cost him dearly at election time. Staff are aware market conditions are not favourable for establishing new funds and expose failings in the idea. The Plan is flawed and has been met with disbelief by ratepayers. Using loans to invest is counter-intuitive and goes against what ratepayers find acceptable.”
Council will consider the staff’s suggestion to abandon the proposal this Thursday 24 January. “We hope some of the diehard Councillors who whole heartedly backed the foolish proposal will also ‘see the light’ and follow in Mayor Guru’s footsteps,” say Messrs Burns and Randall.
As well as the mayor, Cr Elliott says she opposes the scheme, which leaves the requirement for another 3 councilors to support its abandonment. –-Eds