WATER SUPPLY EXTENSION
LOAN OF £120,000
A loan of £120,730 for the extension of the Christchurch water supply, the work including the reticulation of. New Brighton and other new areas, will be floated on the open market. A report that arrangements for the flotation were being made was presented to the City Council last evening by the finance committee.
The secretary of the Treasury said a technical report had been received on the basis of which a recommendation could be made for the issue of an Order-in-Council providing for a 30Sear loan term. Arrangements would e made accordingly, provision for repayment being based on a table of redemptions and with interest at 3 per cent. A copy of the extract from the Gazette of the order would be forwarded lo the council. To Cr. W. P. Glue, Cr. M. E. Lyons said the loan proposal did not cover any headworks, such as the new reservoir at Huntsbury Hill.
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Press, Volume LXXXIII, Issue 25248, 29 July 1947, Page 6
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158WATER SUPPLY EXTENSION Press, Volume LXXXIII, Issue 25248, 29 July 1947, Page 6
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