DRAINAGE BOARD £900,000 LOAN
Opportunity For Objections
Ratepayers objecting to the Christchurch Drainage Board’s proposal to launch its £900,000 sewerage loan have three more days in which to make their protests.
If 5 per cent of the ratepayers in the board’s area make such a demand in writing not later than Monday a poll will be held. The board, which has obtained the sanction of the Local Authorities Loans Board to its proposals will meet on Tuesday to confirm its resolution and clear the way for the launching of the loan. The money is needed so that the board can proceed with its main trunk collecting sewer construction programme .in new areas.
The rate of interest is not to exceed 5 per cent, and the maximum term is 35 years. The security is a rate levy of 123/1250d m the £l.
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Bibliographic details
Press, Volume XCVIII, Issue 28795, 16 January 1959, Page 14
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141DRAINAGE BOARD £900,000 LOAN Press, Volume XCVIII, Issue 28795, 16 January 1959, Page 14
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