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Press, Volume CXV, Issue 33773, 20 February 1975, Page 25

Public Notices I A SPECIAL CONSULTATIVE SERVICE FOR U.S. TAXPAYERS IN N.Z. i WILL BE AVAILABLE at the ! American Embassy in Wellington from February 18-20. I A U.S. Internal Revenue Service representative will be available for consultation on U.S. tax matters. 8768 CHRISTCHURCH CITY COUNCIL STREETWORKS LOAN, 1974— $750,000 NOTICE IS HEREBY GIVEN that at an Ordinary Meeting of the Christchurch City Council held on Monday, the 17th day of February, 1975, the following resolution was passed and it will be submitted for confirmation as a Special Order at an Ordinary Meeting of the Council to be held on Monday, the 17th day of March, 1975, at 8 p.m. in the City Council Chambers, 194 Manchester Street. "THAT IN PURSUANCE and exercise of the powers vested in it by the Municipal Corporations Act, 1954, and the Local Authorities Loans Act, 1956, and all amendments thereto and all other Acts (if any) it in that behalf enabling, the Christchurch City Council hereby resolves by way of Special Order to proceed to raise in New Zealand a loau to be known as the "Streetworks Loan, 1974” of an amount of Seven Hundred and Fifty Thousand Dollars ($750,000) for the purpose of construction or replacement of kerbing, chanelling and footpaths in city streets subject to the following determinations: (1) The maximum term for which the said loan or any part thereof may be borrowed shall be 20 years, provided that: (a) Where the method of repayment is in accordance with clause 3 (a) hereof, the minimum term shall be not less than 10 years,(b) Where the method of repayment is in accordance with clause 3 (b) 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 rates 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 halfyearly 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 pay ments to such sinking fund at a rate of not less than 3.02 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 subparagraph (a) 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 fees 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 (b) Underwriting commission or fees not exceeding h per cent of the amount underwritten; (c> A plabement fee, in respect of a placement by a single lender of not less than $20,000, such fee not to exceed 4 per cent for a term of not less than 10 years but less than 15 years nor to exceed 5/8 per cent for a term of not less than 15 years but less than 20 years, nor to exceed J 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. (6) That loan money may not be raised in advance of a three year works programme.” PURSUANT to the Local Authorities Loans Act, 1956, IT IS HEREBY NOTIFIED that a poll of the ratepayers is required to be taken if not less than five per i cent (5 per cent) of the ratepayers of the City of Christchurch whose names are inscribed on tlie ratepayers’ roll of the district so demand in writing under their hands, delivered or sent by post to the Christchurch City Council and received at the offices of the Christchurch City Council, 194 Manchester Street, Christchurch 1 (P.O. Box 237) not later than 9 a.m. on Monday, the 17th day of March, 1975, being the date fixed for confirmation of the resolution as set out above. J. H. GRAY, General Manager and Town Clerk. Christchurch. February 18, 1975. 8761 IN BANKRUPTCY ANDREW GERALD CARTER, Main Road, Cust, Fitter and Welder, and formerly Company Director, was adjudged bankrupt on February 12, 1975. Creditors meeting will be held at Staff Training Room, State Services Commission. Sth Floor, Government Life Building. Cathedral Square, Christchurch, on Tuesday, March 4, 1975, at 11 a.m. IVAN A. HANSEN, Official Assignee. CHRISTCHURCH.