SEWERAGE FINANCE

Press, Volume CI, Issue 29908, 23 August 1962, Page 9

SEWERAGE FINANCE

New Works For Tender

The loan position justified the calling of tenders for two further contracts for sewer reticulation—Bexley.

section one. and the Marine parade extension— the finance committee advised the Christchurch Drainage Board. Mr T. A. Tucker, the secretary-treasurer, reported that the rate of subscriptions to loans continued to be satisfactory. The response to a new £200,000 reticulation issue which would go on the market on September 1 would give the board an indication of the extent to which it would be safe to let further contracts.

The letting of tiie two contracts recommended by the finance committee appeared to be justified by the present position, but the overall position would have to be watched, as the Northcote collecting sewer and the Buchanans road collecting sewer, two projects covered by the recently-sanctioned £609,000 major works loan, would substantially increase the total loan commitments when contracts were let.

It appeared that with the filling of the forthcoming reticulation issue, it might not be possible to launch any more reticulation issues within this financial year, Mr Tucker said. How’ever, this would not necessarily deter the board from letting reticulation contracts within the current year if there were still contractors available.