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Peter Bernard - 28 August 2018

Peter Bernard made the below comments at the Ordinary Council Meeting 28 August 2018.

COUNCIL ADDRESS.

ITEM CC18/038 INVESTMENTS MADE AS AT 31 JULY 2018

THESE UNQUALIFIED REPORTS HAVE WORRIED ME FOR SOME TIME

MADAM GENERAL MANAGER

1.0 WHAT ARE THE CONSEQUENCES CREATED BY COUNCIL TO ITS COMMUNITY IF THERE IS A CRASH OR ANOTHER GLOBAL CREDIT CRISIS WHEN ONLY 2.14 °/o OF A TOTAL OF $100 ODD MILLION ARE IN THE REMOTE RISK CATEGORY

1.0 SOME OF THE WORDING WORRIES ME GREATLY

FOR EXAMPLE $ 48.5 MILLION ARE IN "CLAIMED FOSSIL FREE INSTITUTIONS". IS THERE EVIDENCE THAT THESE INSTITUTIONS ARE FOSSIL FREEOR NOT? If NOTWOULD YOU PLEASE PRODUCE EVIDENCE OF THIS?  I PREVIOUSLY ADDRESSED COUNCIL WHICH STATED THE SAME WORDS AND SOME OF THOSE

INSTITUTIONS WERE FOUND TO BE NOT FOSSIL

FREE.IF THEY ARE HEAVILY INVOLVED IN LENDING RATEPAYERS MONEY IN THE OPPOSITE DIRECTION AND NOT AS PREVIOUSLY CLAIMED FOSSIL FREE THEN THIS COUNCIL HAS A DUTY TO DO SOMETHING ABOUT IT

2.0  IF THIS COUNCIL FEELS IT HAS BEEN CONNED BY SOME OF THESE INSTITUTIONS THEN IT HAS A DUTY TO REPORT  EVIDENCE  OF THIS TO THE BANKING ROYAL COMMISSION.

3.0 IF IT DOES NOT DO SO IT BECOMES HEAVILY INVOLVED IN INVESTING  PUBLIC MONEYS IN INSTITUTIONS THAT ARE NOT WHAT THEY ARE AS "'CLAIMED "' .

IT LIKE THE "'CDO ISSUES IT SEEM TO BE ANOTHER CON JOB.

4.0   IF YOU WOULD LIKE A SUBMISSION FORM I SHALL BE HAPPY TO PROVIDE YOU WITH ONE AS I HAVE ACOUPLE OF SPARES

PETER BERNARD 28 AUGUST 2018