EXTENSION OF LINES.
POWER BOA RID WANTS £75,000. GISBORNE, September 30. In order to finance extensions' of lines and strengthening of reticulation to deal with the constantly growing demand for electrical services, the Poverty Bay Power Board will apply to the Loans Board for authority to raise £75,000, this sum being estimated as sufficient to meet the requirements of the next three years. The Board does not propose to take a poll of the ratepayers on the Joan unless objections received oblige it to take this course. It was explained at to-day’s meeting that while it would ho necessary to provide for a rate to secure the loan, there was no more likelihood of the rate being collected in respect of this loan than there was when the Board previously raised a loan for capital expenditure, the extension of the Board’s business and revenue being adequate to cover interest, sinking fund and replacement reserve allocations.
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Ashburton Guardian, Volume 58, Issue 301, 1 October 1938, Page 2
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155EXTENSION OF LINES. Ashburton Guardian, Volume 58, Issue 301, 1 October 1938, Page 2
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