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Press, Volume CXIV, Issue 33514, 20 April 1974, Page 21

Public Notices SHEFFIELD DISTRIC T SCHOOL’S CENTENNIAL i All past pupils, staff and ‘committee members of the ■ Annat, Russells Flat, Waddington and Sheffield Schools are .required to register bv April 30, 1974. r Jebson. “Flockton.” Sheffield. THE CANTERBURY FEDERATION OF PARENT-TEACHER ASSNS. LNC. The Annual General Meet- ■ ing of the above will be held ;on Wednesday, April 24. 1974. in Room 102. Education Block. University of Canterbury, tov.n site, at 8 p.m. Nominations for the executive may be forwarded to the Secretary before April 23, or ! given from the floor at the meeting. MONSTER BOTTLE DRIVE FRIENDS OF THE CATHEDRAL GRAMMAR SCHOOL SATURDAY. APRIL 20 COLLECTORS will be calling ■wet or fine and your support would be appreciated. Please leave your bottles at the gate. All bottles taken. If you i have a large quantity of bottles please ring the school, 65-044 Saturday. Collection depots: Bottles can be left at the schoool, Chester Street, near Cranmer Square; 64 Dyers Pass Road, Cashmere; 212 Main Road, Redcllffs. SI 604 ASHLEY COUNTY COUNCIL WORKERS DWELLING LOAN NO, 5. 1974—550,000 NOTICE OF PROPOSED SPECIAL ORDER Notice is hereby given that at a Special Meeting of the‘ Ashley County Council, held in the Amberley R.S.A, Hall, Amberley, on April 4, 1974,! the following resolution was passed and will be submitted for confirmation as a Special Order at an Ordinary Meeting of the Council to be held in the Amberley R.S.A. Hall, at 9.15 a.m. on Thursday, May 2, 1974. RESOLUTION That in pursuance and exercise of the powers vested; in It by the Counties Act I 1956, the Local Authorities Loans Act. 1956, and all amendments thereto and all other acts and powers en abllng it in that behalf, and by virtue of and in accordance with the conditions of the sanction of the Local Authorities Loans Board, granted at a meeting of the Board held on February 5, 1974, the Council resolves to proceed to raise in New Zealand a loan to be known as the Workers Dwelling Loan No. 5. 1974, for the sum of Fifty thousand dollars ($50,0001 for the purpose of erecting or purchasing houses for Council staff and making advances to Council staff to assist with the purchase or building of their own housing subject to the following determinations: 1. The maximum term tor which the said loan or any part thereof may be borrowed shall be 30 years, provided that: (a) Where the method of repayment Is in accordance with clause 3 (a) i hereof, the minimum term shall be not less 1 than 10 years; I <"b) Where the method of repayment is in accotdi ance with clause 3 (a) hereof, any amounts borrowed for less than 10 years shall not exceed 40 per cent of the issue, and shall be borrowed for 5 years and/ or 6 years. 2. The rate of Interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender a rate exceeding the appropriate rate for the time being specified by the Local Authorities Loans Board and notified In the New Zealand Gazette. 3. The said loan or any part thereof, together with interest thereon, shall be repaid by any of the following methods of repayment: (a) By equal aggregate annual or half-yearly instalments of principal

and interest; (b) By establishing a sinking fund before raising the said loan or any issue relating thereto and by making annual payments to such sinking fund at a rate of not less than 1.51 per cent per annum of the amount of the loan or of that issue, as the case may be (other than' any part being repaid! pursuant to graph (al of this clause).| for the time being borrowed and not repaid 4. No interest, instalment of principal and Interest or payment to a sinking fund shall be paid outside New Zealand or out of loan money. 5 The following commission or fes may be paid in respect of the raising of the said loan or any part thereof: (a) Brokerage not exceeding J per cent of the amount ra'ised; (b) Underwriting commission or fees not exceeding } per cent of the amount underwritten: (c) A placement fee. in respect of a placement by a single lender of not less than $20,000, such fee not to exceed J per cent for a term of not less than 10 years but less than 15 years nor to exceed J per cent for a term of not less than 15 years but less than 20 years, nor to exceed t per cent for a term of 20 years or more, provided that no placement fee shall be payable in respect of an underwritten issue or any part thereof. 8. That in respect of the purchase of a house, no contract is to be entered into without the prior approval of the State Advances Corporation as to its cost, and suitability. ! 7. That in respect of the erection of a house, tenders (are not to be called or work j commenced until the plans land specifications have been ;approved by t"e State Advances Corporation. : 8, That the security for the (repayment of the said loan land charges thereon shall be ia snecial rate of .0185 cents tin the dollar on the capital (value of all rateable property lin the County of Ashley. j NOTE: It is not proposed to levy or collect the special jrate but to meet loan charges! from rentals, loan repay-i ments and general rate levy. I 9. Where no part of this loan is raised within 3 years after the date of the above sanction, the authority shall lapse at the expiration of that period and no proceedings shall thereafter be taken for raising the loan. Where part only of the loan is raised Iwithin a period of 3 years from the date of sanction, the authority to raise the balance of the loan shall lapse at the expiration of 10 '-ears from th» date of sanction. It is hereby publicly noth' fled that a poll of ratepayer'! is reouired to be taken if .‘I ner cent of the ratepayers of(the County of Ashler so de;tnand. b" writing under their hands, delivered or sent bv loost to the undersigned beIfore the date fixed for the (confirmation of the foregoing i resolution. Dated this Sth day of April. 1974. A J. McKENDRY, County Clerk. i