MEDBURY SCHOOL
$95,000 Plan For Building
Development plans of Medbury Preparatory School envisage an expenditure of $95,000, says a newsletter issued in its fund-raising appeal. Construction started recently on extensive additions which will be ready next year.
The purchase of the neighbouring Henderson property required about $53,000 which was met partly from reserves built up over the last 10 years ($36,500) and partly from the appeal ($16,500), says the newsletter. However plans envisaged expenditure of $Bl,OOO on the new classrooms, dormitory, and ablution.block, $6500 on alterations and furnishings in the main block, and $7500 on alterations to the Henderson bouse, a total of $95,000. About $25,000 of this would be covered by building fund receipts over the next four years and tn the meantime the school trust board had made arrangements for finance up to June, 1970.
By that time it was expected that the roll would have increased sufficiently to provide income to service a mortgage which would replace the temporary loan from 1970 onwards, says the newsletter.
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Bibliographic details
Press, Volume CVIII, Issue 31769, 28 August 1968, Page 8
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169MEDBURY SCHOOL Press, Volume CVIII, Issue 31769, 28 August 1968, Page 8
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