$1/2M in drain loans
The Christchurch Drainage Board raised $103,940 in loans in June, to bring its outstanding loan balance to $417,400. Now it will go on the market for another $600,000. The $600,000 will be in three loans. The first will be the third issue of the $850,000 Wilderness Drain relief loan (1973) for $250,000. The second will be for $184,000, the
fourth issue of the $2,184,000 Dudley Creek diversion loan (1975). The third will be for $166,000, for the fourth issue of the $765,000 South Canal reserve drain loan (1973). the loans will go on the market on August 15, for terms of five, six, 10 or 20 years, at interest rates of 10.25 and 10.5 per cent.
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Press, 26 July 1978, Page 15
Word Count
120$1/2M in drain loans Press, 26 July 1978, Page 15
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