SEWERAGE PROJECTS
New Areas For Tender
Encouraged by the support for its loans, the Christchurch Drainage Board agreed last evening to call tenders for the next two reticulation contracts on its list of priorities —<he Hoon Hay sewer reticulation, section 5, and the first section of Avondale. Mr T. A. Tucker, the sec-retary-treasurer, reported that a new issue of £190,700 opened on May 31 and there had been a steady response, both locally and outside Chrisitchruch, with £77,530 being subscribed so far. Although a new Government issue was also on the market the terms of the board’s issue showed a more favourable return and the innovation of the short two-year investment in the Government loan would not embarrass the board, as a minimum investment of £lO,OOO was required for that term.
The board agreed to apply to the Local Authorities Loans Board for authority to raise £25,000, the balance of the sewerage advances loan, 1955. of £50,000.
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Bibliographic details
Press, Volume CI, Issue 29853, 20 June 1962, Page 17
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157SEWERAGE PROJECTS Press, Volume CI, Issue 29853, 20 June 1962, Page 17
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