SEWERAGE TENDERS

Press, Volume CI, Issue 29931, 19 September 1962, Page 14

SEWERAGE TENDERS

Better Loan Position

Encouraged by improved public subscriptions to its loans, the Christchurch Drainage Board last evening agreed to call tenders for the second stages of the Bexley and Avondale area sewer reticulation projects. They will close in October. The board also agreed that tenders would be called tor November for the first section of the Northcote collecting sewer from Shearer avenue to Winters road, and if possible a second contract for the northern collecting sewer.

The board was favourably placed for loan finance in relation to contract commitments, notwithstanding the additional commitments incurred by the letting of several reticulation contracts in the last few months, the secretary-treasurer (Mr T. A. Tucker) reported. “This position has been brought about by the improved rate of subscription in public loan issues which shows no sign of abating,” he said. "The new £200,000 reticulation issue which opened on September 1 will probably fill faster than the previous issue. While this state of affairs continues the letting of further contracts should not create any financial embarrassment.” Even if no further reticulation loan money were raised within the current financial year, as seemed likely, the board would still be justified in letting further contracts, he said.