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Salient. Official Newspaper of the Victoria University Students' Association. Vol 44 No. 9. May 4 1981

Finding the Money

Finding the Money

The last part of the SGM was taken up with the proposals for NZUSA to find $52,700 with which to pay STB. It was resolved that this figure will be paid to STB from constituent levies income — after STB has negotiated with possible assets purchasers and the BNZ — for the interim.

However, NZUSA will investigate the possibility of financing this debt using its own asset of Student Union House (although it will not sell the building). In the event of such financing not being available, notice has been given for a special levy to be struck in 1981 of $1.35 per student. In Victoria's case, such a levy would cost close to $8,000.

At first sight Victoria students may consider our Association will be taking on a risky venture if it considers providing share capital for a new STB. However, even if this new company trades profitably for only a couple of years, the debt repayments which will occur during that time mean that to wind the company up after that would be a cheaper process than any other proposal before NZUSA at Sunday's SGM.

Once other campuses fully realise this, there is the possibility we will see them come to the party and take out shareholdings.

Stephen A'Court