Apparently the Rena will cost the insurers $600m to completely remove. Council debt is apparently around $400m.
As millions of tons of shipping lies at the bottom of the sea from wars doing no obvious damage would the council agree to...
a)The insurers pay off the council debt.
b) Council agrees to leave the ship where is.
c) Any further major borrowing would be subject to a referrendum.
This would benefit everyone in the bay as rates could be significantly reduced meaning that even renters would pay less. Savings would also be spent locally boosting the economy. Just a thought but not holding my breath.

Chris Osborne, Tauranga.