In reply to a simple and legitimate information request, as to what the costs and financial consequences of their proposed mortgage holiday were, council quite arrogantly and improperly stated,
"It would be a huge exercise to work this [information] out, and [they] do not have the time. It would mean reworking the whole estimates".To this very moment council have still not provided that information, which is a requisite of the LTCCP.
Even further they point blank refuse to do so. But why. Why the secrecy? What is going on? What is so difficult about providing such a simple piece of information?
Well the cat is now well and truly out of the bag. The Nelson Mail has just provided that very piece of data that the city council has been so deperately trying to hide.
In its page 3 article of the 18th of May, the Nelson Mail unequivocally states that,
"Withholding repayments will increase debt, currently at $57 million, to a maximum in 2013-14, of $169 million.So there it is, openly stated, in black and white, that this totally unwarranted and ridiculous mortgage holiday, is going to cost ratepayers a staggering $112 million dollars for that stupid piece of unnecessary financial slieght of hand.
That is a stunning revelation of reckless financial adventurism, for which there is no purpose whatsoever, and for which there can be no justification whatsoever.
So the real price of this pact with the devil has been revealed. The cost of the devils ransom is quite simply $112 million dollars.
No wonder council was trying to hide that information.
