LOANS FOR SEWERAGE
Better Public Response With an improved rate of public subscription to its loans, the Christchurch Drainage Board was encouraged last evening to call tenders for the next sewer reticulation ccntract on its list of priorities—the Lower Sock-burn-Yaldhurst first section April subscriptions had shown a marked improvement. and this augured well for the next new public issue to go on the market on May--31. the secretary-treasurer (Mr T. A Tucker) reported The new issue would be a composite issue of £190,700. comprising £150.000 for reticulation and £40,700 for land drainage. Under present conditions, a successful new public issue, together with a loan of £50.000 granted by the National Provident Fund—’he board applied for £2OO 000— would close the gap between contract commitments and available funds. Mr Tucker said.
“As the present monthly pay-out on .current reticulation contracts is declining as these contracts near completion, the board would be quite justified in calling tenders for new work,” he said
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Bibliographic details
Press, Volume CI, Issue 29829, 23 May 1962, Page 15
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160LOANS FOR SEWERAGE Press, Volume CI, Issue 29829, 23 May 1962, Page 15
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