MANGERE FINANCE
New Proposal Bv Committee (N2 Press Association) AUCKLAND, April 13 Auckland local bodies will pay about £662.000 if th"y and the Government agree to an Auckland airport committee proposal for a ne" agreement to finance a full international airport costing £lO million at Mangere Under the present £7.5 million agreement providing restricted terminal facilities, the local bodies are committed to share in paying £4OO Ouover the first six vears
In addition, the Auckland City Council and any other bodies who agree to contribute. will pay a further £798.000 tn loan c.-arges ovr--28 to 30 years The committee nas proposed that the Government should make a grant of 60 per cent.—£6 million if the airport with permanent terminal facilities costs the £lO million estimated Th< other 40 per cent should be shared equally between the Government and the Auckland local bodies.
The proposal iollows in principle the Government proposal announced last month This was tor a Governmen grant of £5 million with the rest shared equally.
If the Government agrees to the proposal. Auckland local bodies will still have to give their agreement.
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Bibliographic details
Press, Volume CI, Issue 29798, 14 April 1962, Page 12
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184MANGERE FINANCE Press, Volume CI, Issue 29798, 14 April 1962, Page 12
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