SEWER WORKS LOAN
£BOO,OOO Fully Subscribed
The £BOO.OOO major works loan was fully subscribed, the finance committee reported to the Christchurch Drainage Board this week. The loan would be insufficient to complete the "main works programme and a further sanction
would have to be sought. Because of the need for sewerage development in the Sock-burn-Yaldhurs.t road area, the committee said the board should include in its application to the Local Government Loans Board a sum to cover the cost of the extension of the Blenheim road trunk sewer, which was the key to the reticulation of areas which were developing quickly, both residentially and industrially. Arrangements with the underwriters on an issue of £150,000 were well in hand, and the loan would open on April 1, a month earlier than intended.
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Bibliographic details
Press, Volume XCVII, Issue 28540, 20 March 1958, Page 9
Word Count
131SEWER WORKS LOAN Press, Volume XCVII, Issue 28540, 20 March 1958, Page 9
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