Paparua Council Seeks Variation Of Loan

Press, Volume CIII, Issue 30541, 9 September 1964, Page 14

Paparua Council Seeks Variation Of Loan

Variation of the terms of the rural townships development loan is to be sought by the Paparua County Council to permit the raising of a first loan issue of £15,000 for terms of 10 or 20 . years. The council decided to make this application to the Local Authorities Loans Board on the recommendation of the County Clerk (Mr A. Kelly). Mr Kelly’s report said that a £35,000 loan was approved in June, and the council was entitled to begin work and raise the loan. The work would be carried out in the present financial year and the next two years. About £12,000 would come to charge in the current year. If the loan was now placed on the market and fairly readily filled, a major part would have to be reinvested until required over the threeyear period. Sinking-fund instalments for loan repayments would also commence from the loan date. Instead of covering loan expenditure during the current year from county fund account credit balances, the council should ask the loans board to approve the opening of a first loan issue of £15,000. Epsom Road.— The drainage Board has prepared the schedules and advertised for tenders for sewer laterals in Epsom road. The council decided that until the work was completed a start would not be made on kerbing and channelling in Epsom road and O’Briens road.

Mid-Lincoln Road. The council approved the widening of Mid-Lincolh road from Annex road south-westwards. Allocation has been made in next year’s schedule for the work. The City Council will be able to acquire land on its side for widening from a subdivision, but the county council will have to deal with the Sisters of Nazareth for the acquisition of land on its side of the road. Extension of Contracts.— Approval was given in principle to a recommendation by the county engineer (Mr A. Dyhrberg) that further kerbing and channelling contracts in the county be made an extension of the existing contracts, . provided that the prices for the extensions were in line with present prices or the variations were satisfactory. Mr Dyhrberg said this.method of operation would ensure the contractors continuity of work and encourage them to build up their working forces. Lighting. The council - agreed to install two lights in Canterbury street for pedestrians going to the Hornby railway station. Lincoln Cemetery. The grave plots in the Lincoln cemetery are to be fenced and the cemetery maintained by grazing, provided ratepayers are agreeable. Mr Dyhrberg said that this was much the cheaper method.