FIRE BOARD LOAN.
NEW RESOLUTION ADOPTED.
On receipt of advice from the Local Government Loans Board concerning the application for permission to borrow £30,000 for the purchase of the new central fire station eite, a special -meeting of the Auckland Metropolitan Fire board was called yesterday to rescind a clause of the previous resolution dealing .with the loan, which read: rt That no sinking fund be established, and that the loan be repaid from a debenture issue to be made by the board to cover the amount of the loan, or from revenue account."
In place a* this section, the "'board adopted the following resolution r ''That its the loan of £30,000 is to be for, the purpose of temporary finance only, and that as the board proposes to arrange a further loan for the erection of buildings on the site at a later date, to be amalgamated with this loan, the, sum of £1000 per annum be paid from revenue in reduction of the £30,000 loan lTntil such time as the amalgamation is lirought about, when the whole of the indebtedness in respect of the new station and site will Iμ- placed on a definite repayment basis."
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Bibliographic details
Auckland Star, Volume LXVIII, Issue 23, 28 January 1937, Page 9
Word Count
198FIRE BOARD LOAN. Auckland Star, Volume LXVIII, Issue 23, 28 January 1937, Page 9
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