Assuming NZTA continue to refuse to take over Route K and the associated debt of $60m, then another more palatable option may be to reach an agreement with NZTA for it to assume liability for the annual interest payments of $3m+ with TCC retaining liability for the capital debt of $60m. NZTA would of course get all the future tolls revenue. NZTA would also need to enter into a binding agreement to take Route K debt within say 15 years.
It's a win, win situation as NZTA wouldn't have to find the capital now and TCC gets rid of a huge annual interest bill so the debt itself stabilises. This deal will probably end up costing NZTA $1 million per annum and that's small change for them. The other huge advantage for TCC ratepayers is that the debt remains on the books in the meantime as a TCC liability and so prevents TCC borrowing any more money to spend on other half-baked schemes, protecting ratepayers from Council ‘nice to have' indulgences. This option should be realistic enough even for TCC to negotiate with NZTA as they probably have weekly meetings.
If it all proves beyond the 550 TCC staff and Councillors'capability, there are plenty of private individuals out there who may be able to broker a deal and give a lead to Council on how it's done, assuming of course there is some goodwill from NZTA to enter into meaningful discussions. Speak to Simon Bridges.

Rob Paterson, Mt Maunganui.