RAISING OF LOAN SANCTIONED
FURTHER RETICULATION AT ASHBURTON Sanction for the raising of a loan of £32,000 for further reticulation of the Ashburton Electric Power Boards district was received by the board front the Local Government Loans Board at its meeting yesterday. The Local Government Loans Board wrote that the term of the loan should be 20 years instead of 25 years, because the Loans Board had altered its policy, making the term of loans equal to the life of the assets which were created. The interest rate for the loan would be not more than 34 per cent., and the sinking fund would be not less than 34 per cent. _ ‘ ■ ■ The chairman (Mr E. 3?. Nicoll) gave notice to move at a special meeting that the board take steps to raise the loan “We have had no objections in the prescribed period,” he said.
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Press, Volume LXXX, Issue 24366, 19 September 1944, Page 3
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145RAISING OF LOAN SANCTIONED Press, Volume LXXX, Issue 24366, 19 September 1944, Page 3
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