Gisborne Holdings corrects ‘false information’ on borrowing

Bboard of GHL will 'leave politics to the politicians'.

Bboard of GHL will 'leave politics to the politicians'.

GISBORNE Holdings Ltd has not made any arrangement to borrow $18 million and has no plans drawn up to develop the Waikanae Beach Camp Holiday Park, GHL chairman Bob Proudfoot said today.

Mr Proudfoot, who was refuting claims made in letters to the editor, said the board of GHL would leave politics to the politicians but was perturbed at false information that had been written on occasions.

“GHL has no arrangement with bankers or financiers to borrow $18 million,” said Mr Proudfoot.

“Currently we have an historical arrangement to borrow up to $3 million for the operation and continued development of Tauwhareparae Farms Ltd. We are using about $600,000 of that facility at the moment.

“For GHL we have arrangements in place to borrow up to $12.5 million for the rebuild and relocation costs of council employees while the new chambers are constructed. Currently we have not drawn down on this facility. As we do, over the next two years, we will have building assets to support the borrowings made.

“We do not have any plans drawn up, nor have we made any application to banks to develop the Waikanae Motor Camp. These are matters to be placed before our board and developed when, and if, the asset is transferred to us. Some people may have dreams and wishes of what they would like to see done but at this stage that is all they are.”

Mr Proudfoot also emphasised that he and the board were determined not to enter into any continuing communication through the newspaper concerning the assets transferred or possibly to be transferred to GHL.

“We will leave that to the politicians and would-be politicians. We will communicate the results of our management of the assets and plans for future development of assets once transferred to us, to the council as required under our statement of intent and protocols developed with the council. Many of these are available to the public through the council website and are reported in The Gisborne Herald

“However, we have been perturbed by the false information written on occasions and particularly want to correctly state GHL’s borrowing situation and arrangements as we fear ratepayers are being misled by some of the statements.

“As directors, we have certain constraints imposed upon us by our agreements with the council to ensure we manage and grow the assets assigned to us prudently and with a balanced social conscience, for the benefit of our Tairawhiti community.

“In conclusion, we directors are four Gisborne ratepayers concerned only for the betterment of our city and district for the long term,” said Mr Proudfoot.

GISBORNE Holdings Ltd has not made any arrangement to borrow $18 million and has no plans drawn up to develop the Waikanae Beach Camp Holiday Park, GHL chairman Bob Proudfoot said today.

Mr Proudfoot, who was refuting claims made in letters to the editor, said the board of GHL would leave politics to the politicians but was perturbed at false information that had been written on occasions.

“GHL has no arrangement with bankers or financiers to borrow $18 million,” said Mr Proudfoot.

“Currently we have an historical arrangement to borrow up to $3 million for the operation and continued development of Tauwhareparae Farms Ltd. We are using about $600,000 of that facility at the moment.

“For GHL we have arrangements in place to borrow up to $12.5 million for the rebuild and relocation costs of council employees while the new chambers are constructed. Currently we have not drawn down on this facility. As we do, over the next two years, we will have building assets to support the borrowings made.

“We do not have any plans drawn up, nor have we made any application to banks to develop the Waikanae Motor Camp. These are matters to be placed before our board and developed when, and if, the asset is transferred to us. Some people may have dreams and wishes of what they would like to see done but at this stage that is all they are.”

Mr Proudfoot also emphasised that he and the board were determined not to enter into any continuing communication through the newspaper concerning the assets transferred or possibly to be transferred to GHL.

“We will leave that to the politicians and would-be politicians. We will communicate the results of our management of the assets and plans for future development of assets once transferred to us, to the council as required under our statement of intent and protocols developed with the council. Many of these are available to the public through the council website and are reported in The Gisborne Herald

“However, we have been perturbed by the false information written on occasions and particularly want to correctly state GHL’s borrowing situation and arrangements as we fear ratepayers are being misled by some of the statements.

“As directors, we have certain constraints imposed upon us by our agreements with the council to ensure we manage and grow the assets assigned to us prudently and with a balanced social conscience, for the benefit of our Tairawhiti community.

“In conclusion, we directors are four Gisborne ratepayers concerned only for the betterment of our city and district for the long term,” said Mr Proudfoot.

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Peter Jones - 3 years ago
The betterment of our city for us is it?
Sounds good but is it true? Who really benefits from the loans soon to be generated? You are using local community funds and loans to carry out agenda 21 but you call it the local plan. Can't you see where this programme of offloading public assets and generating maximum council debt levels will get us?

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