Tag Archives: Council debt

Cats —or, Infrastructure spending, Council debt, and Disenfranchisement of Ratepayers

Council cat squad checking rego fees [supplied]

After the great floods, the common affliction amongst leaders, “water on the brain”.

█ The ‘thinking’ – DCC cat control remit for LGNZ AGM

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At Twitter:

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“There may be issues with cats but they also serve a useful purpose in controlling pests. The cat population doubled to two at my place last year, and we have more tui and bellbirds around than ever, as well as visits by kereru and eastern rosellas and fantails and waxeyes. The cats occasionally catch a bird but most often it is a sparrow or a thrush. But it looks like the Dunedin council and some others are keen on requiring the herding of cats. They kept as quiet as they could on cats during the local body elections, and now mid term they try to foist it on the public. Devious.” –Pete George at YourNZ

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Councils will now lobby the government to finish its National Cat Management strategy.

### radionz.co.nz 6:05 pm on 25 July 2017
RNZ News
Councils seek greater powers to control cats
By Michael Cropp – Wellington Local Government Reporter
The country’s councils are calling on the government to give them extra powers to protect wildlife from cats including microchipping, de-sexing and registration. Local bodies have the power to control dogs and their behaviour, but they only have jurisdiction over cats when they become a health risk. While the remit presented by Dunedin City Council at the meeting acknowledged the companion role of animals, it noted cats are a danger to wildlife. […] The controversial remit scraped through with just 51 percent of the vote at the Local Government New Zealand annual general meeting.
….Auckland mayor Phil Goff said his council abstained from the vote because it was not sure what it would mean for the 500,000 cats in the country’s largest city. “We are in favour of practical measures to protect native birdlife …. We’re not in favour of bureaucratic measures that might involve millions of dollars of council time and energy but doesn’t achieve the objectives that we set out to achieve,” Mr Goff said.
Read more

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More about ‘LGNZ The Blight’:

Local Government New Zealand – Media Release
Local government to debate four remits and elect new President at AGM
News type: National news | Published: 21 July 2017
The local government sector will voted on four issues when it gathers for its annual AGM in Auckland on Tuesday 25 July. There is a focus on litter legislation, local government funding, cat management and health in this year’s remits. The AGM follows this year’s LGNZ Conference, when over 600 delegates from local government and its stakeholders, industry and community will gather in Auckland for the two day event [23-25 July]. The theme of this year’s conference is Creating pathways to 2050: Liveable spaces and loveable places. Remits are voted on in a secret ballot and if passed will become official policy and be actioned by Local Government New Zealand. Local government will also be voting for a new LGNZ President to replace Lawrence Yule, who steps down after nine years in the role.
….National legislation to manage cats
The third remit was proposed by Dunedin City Council and asks that LGNZ lobby the Government to take legislative action as a matter of urgency to develop national legislation includes provision for cost recovery for cat management.
Throughout New Zealand councils are tasked with trying to promote responsible cat ownership and reduce their environmental impact on wildlife, including native birds and geckos.  Yet, territorial authority’s powers for cats are for minimising the impact on people’s health and wellbeing, and regional councils’ powers are restricted to destruction of feral cats as pests.  The remit seeks the protection of our wildlife and native species by seeking regulatory powers for cat control, including cat identification, cat de-sexing and responsible cat ownership.
….The LGNZ AGM is open to members only. Following the meeting, LGNZ will advise of the outcomes of all votes.
Read more

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Cat rangers and collars with bells on are some of the ideas Dunedin City Council wants to lobby Government for.

### Stuff.co.nz Last updated at 14:28, July 10 2017
Cat control: many Kiwi councils ready to lobby for national rules
By Libby Wilson
Councils around the country are looking to band together to rein in roaming moggies. Dunedin City Council has suggested its colleagues help it push the Government for national rules that could include cat rangers and shutting cats in overnight. Seven other councils around the country have given the idea, and its environmental focus, their backing ahead of a July vote at the Local Government New Zealand annual meeting.
Read more

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‘Vacuum of cat management policy and services in Dunedin’, local submission says.

### nzherald.co.nz 29 Jun, 2017 7:02am
Dunedin council proposes registration of cats in New Zealand
A Dunedin proposal that could result in the registration of cats in New Zealand will be discussed nationally. The proposal from the Dunedin City Council, in consultation with seven other councils, will next month go to a Local Government New Zealand (LGNZ) vote. If it is successful, LGNZ would make it a policy, and begin lobbying the Government to have it made law. The proposal could see the Government called upon to develop legislation for cats similar to the Dog Control Act. It already has the support of the Otago Regional Council, one of 78 councils which will vote on the idea.
Read more

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### ODT Online Wed, 17 May 2017
DCC seeks support for cat control
The Dunedin City Council will seek support from other New Zealand councils to gain greater control of cat management. If additional support from councils was gained, a remit would ask Local Government New Zealand to call upon the Government to give councils statutory power to control cats. The DCC was researching a Wellington City Council bylaw on microchipping cats. However, the current bylaw could not be enforced by non-compliance fees. Cat management would focus on the control of wild cats.
Link

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S T O P ● P R E S S

At Facebook:

Related Posts and Comments:
26.7.17 RNZ Morning Report : Guyon Espiner sticks claws in Cat Cull & Curfews
25.7.17 To borrow from Stevie Smith : ‘the truth is I think he was already stuck’
22.7.17 Regional state of emergency lifted in Otago (incl Dunedin & Waitaki)
21.7.17 Rainy Day reading —The Spinoff : Ministry of Transport fraud case
21.7.17 DCC ORC : Heavy rain warnings preparations #PublicNotice
1.7.17 LGNZ, don’t wish ‘his lordship’ on New Zealand #VoteRachelReese
3.6.17 ODT updates mayoral vehicle serious injury crash information
24.4.17 LGOIMA vehicle (DCC) : Hyundai Santa Fe (2016) written off Jan 2017
10.12.16 Oh christ ! [LGNZ bureaucratic dopefest]
21.7.15 Dunedin to host LGNZ 2016 conference —FFS TIME TO TAKE IT OUT
21.5.15 DCC and LGNZ, total losers
2.2.15 LGNZ run by Mad Rooster Yule, end of story
10.10.14 Cull consorts with losers at LGNZ
26.6.14 LGNZ #blaggardliars

Posted by Elizabeth Kerr

This post is offered in the public interest.

24 Comments

Filed under Baloney, Business, DCC, Dunedin, Economics, Events, Finance, LGNZ, Media, Name, New Zealand, OAG, Perversion, Pet projects, Politics, Public interest, Travesty, What stadium

Whaleoil / Cameron Slater on ratepayers’ lament

whaleoil 18.7.14 - len brown cartoon by SonovaMin (1)

Cartoon of the Day (Len Brown by SonovaMin)
Posted by Cameron Slater on July 18, 2014 at 11:00am

Len Brown’s failures will cause Auckland headaches for decades
Posted by Cameron Slater on July 18, 2014 at 11:30am
A Local Authority like Auckland Council plans capital expenditure for urban projects – like the pretty CBD road and footpath improvements. The problem with infrastructure maintenance is that it is very expensive, and it occurs in the future. Competing against the pretty high profile projects it suffers because it takes second place. On the Audit NZ website is a document that records an audit of the performance of Local Government that is pertinent to this topic.
Read more

Posted by Elizabeth Kerr

125 Comments

Filed under Business, Construction, DCC, Democracy, Design, Economics, Geography, Media, Name, New Zealand, NZTA, People, Politics, Project management, Property, Town planning, Urban design, What stadium

LGNZ #blaggardliars

Received from Anonymous
Thu, 26 Jun 2014 at 3:17 p.m.

Horowhenua Chronicle 25.6.14 (1)Horowhenua Chronicle 25.6.14

[Anonymous] “Another report by another highly paid expert, strategically placed on the front page to calm the masses only weeks after Horowhenua District Council (HDC) announced rate hikes of 10%.”

[Evidence] No-one believes his crap. Slippery Lawrence Yule treated like yesterday’s scrumpled chip paper.

Our reading preference:

The Ratepayers’ Report is based on data collated by the Taxpayers’ Union, a lobby group, from councils’ annual reports. It also includes information collected independently from the Department of Internal Affairs and Statistics New Zealand. All of this has been checked and sent to the 67 councils involved for them to review. See local government league tables published by analyst Larry Mitchell since 2010.

Related Post and Comments:
12.6.14 Fairfax Media [not ODT] initiative on Local Bodies
21.4.13 Councils “in stchook” —finance & policy analyst Larry.N.Mitchell
30.5.12 Larry.N.Mitchell: 2012 Local Govt League Table Executive Summary

Posted by Elizabeth Kerr

16 Comments

Filed under Business, DCC, Democracy, Economics, Media, Name, New Zealand, People, Politics, Project management, Property, Stadiums

Fairfax Media [not ODT] initiative on Local Bodies

The Taxpayers’ Union in collaboration with Fairfax Media has launched the “Ratepayers’ Report”. (Link)

Comment received from Russell Garbutt
Submitted on 2014/06/11 at 10:04 am

The Fairfax initiative on Local Bodies is an excellent one.

It can be found at http://www.ratepayersreport.co.nz/

It seems that this whole thing has stemmed from the excellent work of Larry Mitchell, in trying to educate Local Bodies as to some financial nous, and also to alert ratepayers to what circumstances their local body has put them in.

I know from experience over many years of trying, that my recommendations to local Councillors to contact Larry Mitchell and learn from his experience as an independent consultant on Local Government fell on totally deaf ears. They seemed to know better. Yeah, right.

Now it is out there in a form that is very readable and comparisons can be easily seen.

What is totally amazing is the views of the DCC in this. Yes, the second highest debt per ratepayer, but the DCC says that it has the second highest value of assets. Crap. This is just rubbish and it can’t sell those assets. Every Council has water, roading etc which it must provide and can’t sell, but in the case of the DCC it has the stadium. Not an asset as we all know but a fearful liability, but it appears in the books as an asset. Well, sell the bloody thing. It isn’t needed.

I know that this story won’t be picked up by the ODT as it is a Fairfax story, but the other point in here of course is that the ability of Aucklanders (who have the highest debt levels) to pay. Dunedin doesn’t. Its population is well below that of Auckland when it comes to average income per household.

The other thing that the ODT won’t cover is the local comparisons. While the DCC has a debt level of $15,093 per ratepayer, the Central Otago District Council has only $327 per ratepayer, with virtually the same equity value per ratepayer. What’s the difference? As the CODC says of the area “A World of Difference”. I know which Council I admire the most.

[ends]

Posted by Elizabeth Kerr

7 Comments

Filed under Business, DCC, Democracy, Economics, Media, Name, New Zealand, People, Politics, Project management, What stadium

Northland council amalgamation

### radionz.co.nz Tuesday 12 November  -  12:20 pm NZT
(Updated 38 minutes ago)
RNZ News
Single council for Northland proposed
The Local Government Commission has recommended a single unitary council for the whole of Northland.
The commission at Waitangi on Tuesday revealed its draft proposal for reorganising local government in the region. It proposes one council and one mayor for Northland and a second tier of community boards.
A new nine-member council, to be based in Whangarei, would replace Far North District Council, Whangarei District Council, Kaipara District Council and Northland Regional Council.
The commission also proposes a special council committee to represent Northland’s large Maori population.
RNZ Link

Northland RC boundary map (400) 1

Related Posts and Comments:
29.6.13 Audit NZ and OAG clean bill of health —Suspicious!
21.4.13 Councils “in stchook” —finance & policy analyst Larry.N.Mitchell
19.3.12 Local government reform
21.2.12 Kaipara this time

Posted by Elizabet Kerr

2 Comments

Filed under Business, Democracy, Economics, Geography, Media, New Zealand, People, Politics, Project management

Newspaper errs . . . #Dunedin #Elections

Post updated 24.12.13
This link and content has been removed from ODT Online:

Opinion: DCC councillor report cards
http://www.odt.co.nz/news/dunedin/274117/opinion-dcc-councillor-report-cards

Received.
Sunday, 22 September 2013 12:03 p.m.

Election hoardings 1

—— Forwarded Message
From: Lee Vandervis
Date: Sun, 22 Sep 2013 12:01:03 +1200
To: EditorODT , NICHOLAS GEORGE S SMITH, “Julian. Smith”
Cc: Chris Morris
Conversation: A reporter’s ranting ratings! – Letter to the Editor
Subject: A reporter’s ranting ratings! – Letter to the Editor

Letter to the Editor.

A reporter’s ranting ratings! – on voting-papers-weekend!

Dear Editor,

With two pages of a reporter’s ranting ratings! on Councillors, the ODT has emotively screwed with voter preferences just as their voting papers arrive.
For the Mayoralty the ODT has again backed a TV-show-pony instead of a work-horse.

Where was Saturday’s headline ‘Cull falsely claims saving ratepayers $100+ million’ when the ODT knows he tried costing us that $100+ million in 2012 to disguise a double digit rates-rise? *
Where is the headline ‘Imaginative and informative election posters from Vandervis’?

You have helped buy a Stadium that we can not pay for, neither capital nor operational, and failed the only candidate that told you so and still might have been able to pay for both.
You are sending our new CEO saviour in search of a saner situation.
You have, in this most important ODT issue of the triennium, taken the Dunedin disease of savaging style over substance to new debilitating depths.
You have permanently compromised any perceived impartiality of your primary DCC reporter, and warned off any decent future DCC candidates.

Winchell’s fate awaits you.

Cr. Clydesdale Vandervis

[“Walter Winchell – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Walter_Winchell
You know what Winchell was doing at the end? Typing out mimeographed sheets with his column, handing them out on the corner. That’s how sad he got.”]

* “Mayor Dave Cull said he was “vehemently opposed” to repaying the debt over 40 years, because of the interest it would add to the bill, but would support it in the meantime to keep rates down.” [ODT 26 Jan 2012]
—— End of Forwarded Message

Posted by Elizabeth Kerr | in the interests of health and safety in the social and built environment at Dunedin [townscape] —mind the curve

29 Comments

Filed under Business, Construction, DCC, Democracy, Economics, Geography, Hot air, Media, Name, New Zealand, People, Pics, Politics, Project management, Property, Site, Sport, Stadiums, Town planning, Urban design, What stadium

Local government reform

### stuff.co.nz Last updated 09:24 19/03/2012
Local government reform to be announced
By Danya Levy
The Government is expected to announce details of its local government reforms today which aim to reduce rates increases and curb council debt. Prime Minister John Key said this morning the Government believed the 7 per cent average rates increase since 2003 was too much for the community to shoulder. “We accept there are lots of arguments around infrastructure deficit and the cost of bitumen but overall we want to see that number lower,” he told Newstalk ZB.
Read more

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### scoop.co.nz Monday, 19 March 2012, 10:50 am
Government must give ratepayers greater protection
Press Release: NoMoreRates.Com
[Statement from David Thornton]
Government must give ratepayers greater protection from free-spending councils. Ratepayers around the country are looking for some solid changes to local councils when the Government makes its promised announcements on local government reform later today. While controls on rates and debt are the main issues there is also the question of limiting those council activities which lead to high debt and ever-increasing rates. This could need inserting new clauses in the Local Government Act clearly defining the services and facilities which councils can and cannot be involved in.
Read more

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Ms Sage hasn’t quite got it right, see Dunedin City Council’s unmanaged debt.

### scoop.co.nz Monday, 19 March 2012, 12:00 pm
Local Govt Reforms Driven By Ideology, Not Good Governance
Press Release: Green Party
A manufactured crisis is being used as an excuse to drive ideological changes to local government, the Green Party says. “Central government proposals to cap rates, limit council spending, and force amalgamations would further undermine local democracy,” Green Party local government spokesperson Eugenie Sage said. “The key challenges local authorities face are a backlog of infrastructure investment where populations are growing and their reliance on rates as their major funding source.”
Read more

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### scoop.co.nz Monday, 19 March 2012, 10:50 am
Government must give ratepayers greater protection
Press Release: NoMoreRates.Com
[Statement from David Thornton]
Government must give ratepayers greater protection from free-spending councils. Ratepayers around the country are looking for some solid changes to local councils when the Government makes its promised announcements on local government reform later today. While controls on rates and debt are the main issues there is also the question of limiting those council activities which lead to high debt and ever-increasing rates. This could need inserting new clauses in the Local Government Act clearly defining the services and facilities which councils can and cannot be involved in.
Read more

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### radionz.co.nz Updated at 6:15 am today
News
Cabinet to consider local government reforms
The Cabinet is to consider a range of proposals aimed at controlling growing costs in the local government sector. Local Government Minister Nick Smith has said his main concern is council spending and the financial burden of rates on households and businesses.
Read more

Related Posts:
12.3.12 DCC debt
7.3.12 D Scene: Call for full inquiry into stadium project
27.2.12 Bringing DCC councillors, staff, related entities and individuals to account
21.2.12 Kaipara this time
3.2.12 Local government
17.1.12 DCC living beyond its means [all spending and debt not declared]
4.7.11 Local government finances
16.6.11 “Dunedin” – we introduce Transparency International UK

Posted by Elizabeth Kerr

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Filed under DCC, Economics, Geography, People, Politics

Waipori Fund – inane thinkings from a councillor

### ODT Online Wed, 25 Jan 2012
DCC could borrow from self
By David Loughrey
The Dunedin City Council will consider borrowing from its own almost $70 million Waipori fund, instead of using commercial lending institutions. The idea would be to provide regular income to the fund through interest, and produce a situation where the council would, in effect, be paying interest on its loans to itself.
Read more

### ODT Online Wed, 25 Jan 2012
Communities will have to help pay: Cull
By Chris Morris
Communities across Dunedin will need to do more to help pay for projects, as the Dunedin City Council grapples with tight finances threatening to curtail spending on key ventures, Mayor Dave Cull says. The warning came as councillors met in public yesterday for the start of a two-day meeting to discuss the council’s 2012-13 pre-draft annual and long-term plans. The early budgets forecast a 4.7% rates increase from July 1, but councillors were also grappling with a list of about 40 unfunded projects – including the proposed $11.5 million Mosgiel pool and a new South Dunedin library – yet to be included in the council’s spending plans.
Read more

Citizens and ratepayers are given the “pay up or shut up” treatment—councillors are “of a mind” to include some projects in council spending plans…

The top five projects, in order, were a new Maori consultation model, Ocean Beach erosion work, Caversham tunnel work, repairs to the St Clair sea wall, ramp and stairs, and a new council energy plan. [Added items] The council’s share of the Blueskin Bay library ($745,000) and priority parts of the strategic cycle network ($1.5 million over three years) in South Dunedin.

Further discussion at DCC draft annual plan 2012/13 and DCC living beyond its means [all spending and debt not declared]

Posted by Elizabeth Kerr

16 Comments

Filed under CST, DCC, DCHL, DVL, DVML, Economics, People, Politics

Something hyped in the news

It might’ve been the stadium and a very small sample of businesses that got any financial benefit.

Not worth writing about.

The stadium hasn’t been paid for. Cr Staynes is a chump.



Posted by Elizabeth Kerr

28 Comments

Filed under CST, DCC, DCHL, Economics, Geography, Hot air, People, Politics, Project management, Site, Sport, Stadiums

Russell Garbutt met with Cr Bill Acklin

The following was received from Russell Garbutt this evening, he says:

Bloggers have been asking how the meeting went with Cr Bill Acklin and it is more than time that I responded.

The meeting was non-confrontational in my view and went over a number of issues. Cr Acklin was anxious to set out the process that was followed in relation to the black penis edifice in the Octagon and essentially outlined the process that was revealed a day later in the ODT. Why a committee has been set up that can outvote elected representatives is an unanswered question. I think it fair to say that the impression I have gained outside this meeting is that it’s clear that Ngai Tahu have had more than a significant amount of say into what the DCC contribution [might be] for what they see is a Ngai Tahu presence at the RWC. Ngai Tahu seems to have made it clear that there would be a downside if the DCC didn’t decide to contribute. None of this came from Cr Acklin, but then again this feeling was not able to be refuted. I sense that this is what the ODT were also saying in their piece. Something just doesn’t smell right with this deal.

The main issue I felt was that Cr Acklin believes that the “private funding” for the stadium has all gone to construction. He has said to me that he will check on my position that the money raised by the sale of product etc will be put into revenue and only after a real profit has been met will anything go into construction. Needless to say, I think it extraordinary that anyone involved in this process has not ensured that what has been presented by staff and the CST was not independently checked out. Cr Acklin’s position was in essence, that the DCC in total was in hock to about $700 million but only about $100 million was due to the stadium. Fair to say that there is a wide gap between what I think is the total stadium debt and what Cr Acklin believes it to be.

I think it fair to say that while I saw that there was huge financial risk if the Highlanders franchise was altered then the City would suffer because purchasers of product at the stadium would not choose to pick up instalments in arrears and hence revenue would be affected in a major way, that Cr Acklin didn’t see this as particularly worrying.

I asked if Cr Acklin would support an independent financial enquiry into the DCC along the lines of the Larsen report. I thought it intriguing that Cr Acklin believed that Larsen was working to a brief and that he was opposed to that. I’m not sure from our conversation whether Cr Acklin didn’t believe that the Board of DCHL had been compromised by conflicts or not, or whether he accepted the main findings of the Larsen report. I still don’t know if Cr Acklin would support an independent enquiry into the DCC finances and what is more concerning is why anyone wouldn’t support that initiative.

I think it also fair to say that some of the comments made on blogs were not surprising to either of us. It is accepted that a person that puts their name up for election does not have to meet any requirements of competence in governance and some that are elected are not qualified to meet the requirements of the job. It is also accepted that some Councillors have personal failings.

Overall, I was impressed that Cr Acklin offered to meet and spent 90 minutes in talking over a range of issues. However, I was not convinced at the end of the meeting that the processes followed and the reasoning followed by Cr Acklin in relation to the stadium could bear any stringent examination. It may be that Cr Acklin would have supported the stadium project no matter what the cost would be, and certainly I never gained the impression at any stage that he would have voted against the proposal.

Quite happy to hear from Cr Acklin of any corrections or other impressions from our meeting which I emphasise again was cordial, constructive and non-confrontational.

Posted by Elizabeth Kerr

30 Comments

Filed under DCC, DCHL, Economics, People, Politics, Project management, Stadiums

Stadium: Private sector funding

UPDATED

The Carisbrook Stadium Charitable Trust (CST) states that sources of project funding for design and construction of Forsyth Barr Stadium include:

Private Sector Funding of $31 million (from a total of $45.5 million).

Last week, Guy Hedderwick, commercial manager at Dunedin Venues Management Ltd (DVML), in reply to a question from Cr Lee Vandervis confirmed that the donations total was still “around $330,000”.

Only $330,000 raised of the tens of millions required.

Meanwhile, Dunedin City Council has been forced to raise debt to meet the massive shortfall and is required to pay interest on this debt.

The Carisbrook Stadium Charitable Trust has serious work to do.

The Trust, at its Funders webpage, states the University of Otago will contribute $10.0 million of project funding for stadium design and construction.

Cr Lee Vandervis says “My clear understanding is that the University of Otago is not allowed to fund such things as the stadium, and that not one single dollar of university funding has built the stadium. They have merely built a university building on adjoining land next door.

“While I was on Council in 2007, Malcolm Farry, chairman of the Carisbrook Stadium Trust, said there would be $10m worth of ‘synergies’ between the University Plaza building and the stadium, but when I questioned harder these synergies turned out to be bull-dust.”

Cr Vandervis might care to check the construction and or architectural synergy between the stadium and the university building, and how the associated costs were met.

Posted by Elizabeth Kerr

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DCC Finance, Strategy and Development Committee

Meeting – Monday 5 September 2011, 1.00 PM
Edinburgh Room, Municipal Chambers

Agenda – FSD – 05/09/2011 (PDF, 61.3 KB)

Report – FSD – 05/09/2011 (PDF, 172.3 KB)
Business Support Funding – Summary up to Period Ending June 2011

Report – FSD – 05/09/2011 (PDF, 175.5 KB)
Dunedin Visitor Economy Strategy Group

• Report – FSD – 05/09/2011 (PDF, 105.0 KB)
Forsyth Barr Stadium Debt Servicing Plan

Report – FSD – 05/09/2011 (PDF, 2.3 MB)
Stadium Precinct Executive Summary

Report – FSD – 05/09/2011 (PDF, 78.4 KB)
Filming Location Fee Policy

Report – FSD – 05/09/2011 (PDF, 562.8 KB)
Financial Result – 1 Month to 31 July 2011

Report – FSD – 05/09/2011 (PDF, 134.0 KB)
Funding to City Funding Safety Programme

Report – FSD – 05/09/2011 (PDF, 144.8 KB)
Targeted Rate for Earthquake Strengthening

Report – FSD – 05/09/2011 (PDF, 254.3 KB)
Octagon Free Wireless

Report – FSD – 05/09/2011 (PDF, 546.7 KB)
Dunedin Healthy Homes Initiative

Report – FSD – 05/09/2011 (PDF, 45.8 KB)
Waipori Fund – Report for Quarter Ending June 2011

• Report – FSD – 05/09/2011 (PDF, 340.5 KB)
Increased Capital in Dunedin Venues Management Limited and Dunedin Venues Limited

[DCC Link]

Posted by Elizabeth Kerr

92 Comments

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Bond bank for local councils

## stuff.co.nz Last updated 05:00 10/10/2010
Councils prepare to flex borrowing muscle
By Rob Stock – Sunday Star Times
A bond bank to give local councils access to cheaper borrowing and offering local authority debt for ordinary mum-and-dad investors could be in place as early as August next year. The bond bank, which had its genesis in a brainwave by prime minister John Key when he was in opposition, is being backed by all major councils with the exception of Dunedin City, which came under fire last week from an election candidate over its borrowing process.
The bond bank would enable local authorities to combine their borrowing power. It would manage a portfolio of council debt, and issue liquid securities with high credit ratings secured against it. The securities would be marketed not just here, but overseas where yields are low, driving council borrowing costs down.
Read more

Posted by Elizabeth Kerr

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