CITY LOANS.
SPECIAL COUNCIL MEETING. RAILWAY STATION SITE. At a special meeting of the Auckland City Council yesterday, presided over by the Mayor, Mr. G. W. Hutchison, a special order was made and formal resolutions were carried enabling the council to borrow £200,000 by way of hypothecating debentures to pay off two loans each, of £100,000 falling due in London 011 January 1 next. It was also resolved to raise the sum of £25,000 for the acquisition of land at the old railway station site to complete the loading scheme decided upon by the council. The currency of the loan is to be 30 years, the interest to by 4 per cent, and security a special rate of two-thirteenths of one penny in the £ upon all ratable property in the city, with a sinking fund of 1J per cent. Debentures will be issued with relative coupons securing the payment of principal and interest.
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Auckland Star, Volume LXIV, Issue 296, 15 December 1933, Page 2
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153CITY LOANS. Auckland Star, Volume LXIV, Issue 296, 15 December 1933, Page 2
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