SEWER WORKS
USE OF NEW LOAN FUNDS
By Tuesday £177,000 had been subserbied to the £250,000 loan flotation by the Christchurch Drainage Board. The sum of £200,000 is being raised for the main account. Cash available now exceeds existing commitments by £31,000. Three large contracts have yet to be let.
The New Brighton portion of the loan flotation is £50.000. Available funds, the finance committee reported to the board on Tuesday evening, exceeded commitments by £17,137. The contract for the 18in gravity, main in Page’s road would exceed that amount. As it was considered that tenders should be called as soon as possible for the rising main between the pumping station and the farm in order that the connexion between New Brighton and the farm might be completed, the committee had decided that applications for further debentures be allotted to the New Brighton loan until sufficient money was in hand to keep the works going.
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Bibliographic details
Press, Volume LXXXVIII, Issue 26917, 18 December 1952, Page 6
Word Count
155SEWER WORKS Press, Volume LXXXVIII, Issue 26917, 18 December 1952, Page 6
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