Page 27 Advertisements Column 3

Press, 1 September 1977, Page 27

Public Notices GOOD USED CLOTHING SALE EVERY FRIDAY 9 a.m. to 5 p.m. NEW STOCK EVERY WEEK 144 CARLYLE STREET. SYDENHAM. WH

CHRISTCHURCH CITY COUNCIL 1 ELECTRICITY ■ EXTENSION : LOAN, 1977 $750,000 NOTICE is hereby given that at an Ordinary Meeting of the Christchurch City Council held on Monday, the 15th day of August, 1977, 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 on Monday, the 12th day of September, 1977, at 7.30 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 ali 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 loan to be known as the Electricity Extension Loan 1977 of ah amount of Seven Hundred and Fifty Thousand Dollars (6750,000) for the purpose of extending the distribution system and electrical reticulation of the Council’s electricity undertaking, 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 6 years; (b) Where the method of repayment is in accordance with clause 3(b) hereof, any amounts borrowed for , less than six years shall , not exceed 40 per cent of the issue and shall be ; borrowed for three years : and/or four years and/or , five 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 pro- . duce to the lender a rate exceeding the appropriate rate for the time being specified bv the Local Authorities , Loans Board and notified in : the New Zealand Gazette, as ; if money borrowed pursuant ; to this sanction were money to which such Gazette notice applies. 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 2.58 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 sub-paragraph (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. No agreement or arrangement shall be entered into with any person in respect of carrying out any part of the work for which this loan was sanctioned whereby that person is to subscribe to the loan or receive any debentures or stock in satisfac-| tion of all or part of the price for the carrying out of auch work. 6. No agreement or arrangement shall be entered into with any person to invest loan moneys or any part or parts thereof raised in accordance with the terms of this sanction whereby such investment would yield a rate; of interest less than that which would be paid by the National Provident Fund on deposits with the Local Authorities Investment Pool from time to time. 7. 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 | 1 per cent of the amount raised; Cb) Underwriting commission or fees not exceeding 3 per cent of the amount underwritten; (c) Such further fees as the Board may from time to: time determine. 8. This sanction is subject to the General Determination published in the New Zealand Gazette, May 20, 1976, No. 58, page 1135, in that money to be borrowed under this sanction is deemed to be money to which that Determination Pursuant to the Local Authorities Loans Act 1956. it is hereby notified that a poll of ratepayers is required to be taken if not less than fifteen per cent (15%) of the ratepayers of the City of ChristI church whose names are in-. I scribed on the Ratepayers’! Roll of the District so demand in writing under their hands, delivered or sent bv 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| am on Monday, September 12. 1977, being the date fixed for the confirmation of the resolution as set out above. J. H. GRAY, General Manager and Town Clerk. 8487 NOTICE OF MEETING IN THE MATTER of the Companies Act. 1955, and IN THE MATTER of Raupunga Shingle Company, Limited (in liquidation). I TAKE NOTICE that a meeting of creditors in the above I matter will be held at the I offices of Denton, -Anderson, I Mackay and Donovan, 115 ‘King Street North, Hastings, ' on the sixth day of September, 1977, at 10 o’clock tn the forenoon. AGENDA (1) To report to creditors on the conduct of the liquidation. (2) To authorise the liquidator to pay a first and final dividend to those creditors whose proofs of debt I have been admitted. (3) To fix the liquidators remuneration. DATED this 19th day of August, 1977. Signed: B. E BROOKER, Liquidator. 8819