MONEY FOR CITY.
f4 00,000 DEBENTURE LOANS.
Some particulars of the £400.000 debenture loan which the Bank of New Zealand is raising in London for the Auckland City Council were given in two formal resolutions adopted last night. The loan is portion of the consolidated loan of £847,000 (1924) authorised hy the Auckland City nnd Auckland Museum Empowering Act 1024. The currency of the issue is for -.1 years from October 1, 1924, and interest is 5 per cent, and tho issue is to be sold at £97 10/. The security for the loan is a special rate of BJd in the JC on the annual value of all ratable property in the city. A sinking fund of 1 per cent is provided for.
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Bibliographic details
Auckland Star, Volume LV, Issue 235, 3 October 1924, Page 10
Word Count
124MONEY FOR CITY. Auckland Star, Volume LV, Issue 235, 3 October 1924, Page 10
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