HARBOUR FERRY LAUNCHES

Press, Volume XCIV, Issue 28158, 22 December 1956, Page 8

HARBOUR FERRY LAUNCHES

£B9OO LOAN FOR PURCHASE

LYTTELTON COUNCIL’S ENDORSEMENT

A special meeting of the Lyttelton Borough Council was held yesterday to pass a resolution validating the raising of a loan to buy the Diamond Harbour passenger launches. The Town Clerk (Mr J. Thompson), reported that the Local Government Loans Board had sanctioned the loan subject to certain conditions. If 5 per cent, of the ratepayers demanded it, the proposal would have to be submitted to a poll. Replying to a question by Mr R. E. Cairns, Cr. A. R. Champion said the launches were seaworthy, and he considered the proposal worthy of the council’s support. The resolution, which was carried, provides that a loan of £B9OO shall be raised for the purchase of launches Ngatiki and Onawe, also a house property in Reserve terrace. The term of the loan will be for 10 years, with interest at 4i per cent. Security for the loan will be a special rate of ljjd in the £ on all rateable property in the borough.

The resolution will be submitted for confirmation to a meeting of the council on January 28.

A committee, consisting of Crs Champion. W. Morris, A. M. Miller, and Cairns, was appointed to consider whether the launch service should be operated by the council or leased. The committee will report back to the council.