NEW SEWER WORKS
£1.7 Million In Loans
If it receives the consent of the Local Authorities Loans Board, the Christchurch Drainage Board will go on the market this year for three loans amounting to £1.765 million. Formal resolutions to apply to the Loans Board for the loans were passed by the board yesterday, after public notification had been given and no objections had been received.
The biggest loan sought is £1.3 million for continuation of the sewer reticulation programme. It and a loan of £240,000 being sought for completion of the first stage of reticulation sewerage extensions and repayment to the Crown for reticulation sewers laid by the Crown in dedicated roads will be for a term not exceeding 35 years, and carry an interest rate of 5 per cent. The third application will be for sanction to a loan of £225,000 for major stormwater works. The loan will have a 20-year term and carry 5 per cent, interest.
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Bibliographic details
Press, Volume XCIX, Issue 29107, 20 January 1960, Page 3
Word Count
159NEW SEWER WORKS Press, Volume XCIX, Issue 29107, 20 January 1960, Page 3
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