$843,000 in loans
The Christchurch Drainage Board resolved last evening to apply to the Local Authorities Loans Board for two loans totalling $843,000. The first loan, of $513,000, is for providing stormwater relief in the central city area; the second, of $330,000, is for the completing of sewer reticulation in the Belfast area.
The chairman of the finance committee (Mr G. A. G. Connal) said a loan issue of $300,000 would open on July 1 and it would be underwritten.
The board decided to write to the Minister of Finance (Mr Muldoon) asking him to put interest rates payable by local bodies up or, alterna-
tively, dampen finance houses’ interests rates, so that local body loans would become more attractive to investors.
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Bibliographic details
Press, Volume CXI, Issue 32640, 23 June 1971, Page 20
Word Count
122$843,000 in loans Press, Volume CXI, Issue 32640, 23 June 1971, Page 20
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