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PUBLIC NOTICES RICCARTON BOROUGH COUNCIL. NOTICE OF SPECIAL ORDERS. STREETS IMPROVEMENT AND RECONSTRUCTION LOAN 1955 £40,000. NOTICE is hereby given that at a special meeting of the Riccarton Borough Council held on Monday. February 13. 1956. a resolution was passed and it wdll be submitted for confirmation at the ordinary meeting of the Council to be held on the 19th of March, 1956, at 7.30 p.m.. in the Council Chambers, 189 Clarence street, Riccarton. THE FOLLOWING IS THE RESOLUTION: In pursuance and exercise of the powers vested in its by the "Municipal Corporations Act. 1954." and the "Local Bodies Loans Act, 1926” and amendments. and every other power enabling it and the consent of the Local Government Loans’ Board having been given, the Riccarton Borough Council resolves by way of special Order as follows: . (1) That the Riccarton Borough Council authorise and proceed to raise a loan of £40.000 to be known as the Streets Improvement and Reconstruction Loan, 1955. (2) That the term for which the said loan or any part thereof may be borrowed shall be ten years. (3) That the rate of interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding 4>i% (four and one-quarter per cent, per annum). (4) That before raising the said loan or any part thereof it shall make provision for the repayment thereof by establishing a sinking fund calculated on the amount to be raised of not less than three pounds ten shillings and ninepence per cent, per annum. (5) That the payment of interest and repayment of principal in respect of the said loan shall be made in New Zealand and no amount payable as either interest or sinking fund in respect of the said loan shall be paid out of loan money. (6) That the rate payable for brokerage, underwriting and procuration fees in respect of the raising of the said loan or any part thereof shall not in the aggregate exceed per cent, of any amount raised. (7) That no money shall be borrowed under this sanction after the expiration of two years from the date of the Order-in-Council consenting to the raising of the said loan. (8) That A. F. Fisher, R. Hepburn, and J. H. Rhodes be and are hereby appointed as Sinking Fund Commissioners in respect of the said loan. (9) That the form of security for the payment of principal and interest shall be by means of debentures and interest coupons in conformity with the Local Bodies Loans Act. 1926. IT IS HEREBY PUBLICLY NOTIFIED that a Poll of Ratepayers is to be taken, if 5% of the Ratepayers of the District so demand, by writing under their hands, delivered or sent by post to the Undersigned before the date fixed for the confirmation of the above resolution. DATED AT RICCARTON this 18th day of February, 1956. R. SARJEANT, Town Clerk. 5496

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Bibliographic details

Press, Volume XCIII, Issue 27909, 5 March 1956, Page 17

Word Count
852

Page 17 Advertisements Column 4 Press, Volume XCIII, Issue 27909, 5 March 1956, Page 17

Page 17 Advertisements Column 4 Press, Volume XCIII, Issue 27909, 5 March 1956, Page 17