Page 27 Advertisements Column 6

Press, 2 December 1978, Page 27

!__ Public Notices LYTTELTON BOROUGH COUNCIL NOTICE OF SPECIAL ORDER SEWER AG E IM PROV EM ENT LOAN 1978—5100,009 NOTICE is hereby given that at an Ordinary Meeting, held on tlie 13th day of November 1978. the Lyttelton Borough Council passed the fol lowing Resolution and it will be submitted for confirms ation at a meeting of the said Council to be held on Monday, | December 11. 1978. at 7.30 J p.m. in the Council Chambers,, [corner of London and Ox I ford Streets, Lyttelton. ! RESOLUTION: "Thar in exercise of the powers conferred upon it bx the Municipal Corporation Act. 1954. the Local Authorities Loans Act. 1956 and all ' powers and authorities enabling the Lyttelton Borough i Council does hereby, by wax of Special Order, resolve to raise a Special Loan of $lOO,OOO to be known as the Sewerage Improvement Loan. 1978. for the purpose of mak : ing improvements to the Boi i ough sewerage system and does hereby determine as fol-; lows:-— 1— The maximum term fori which the said loan or anx , part thereol max be borrow- 1 cd shall be 25 years, pi ox ided that;— ■al Where the method of re-' payment is in accordance [ with Clause 3 iai hereof,} the minimum term shall i be not less than 6 years. . tb) Where the method of repayment is in accordance) with Clause 3 ib* hereof,any amounts borrowed i for less than 6 years shall j not exceed 40 per cent of the issue, and shall be* borrowed for 3 years and/ Oi 4 years and/br 5 years. [ 2— The rate of interest that; , may be paid in respect of the said loan or any part thereol, (shall be such as shall not pro-! i duce 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, as! iif money borrowed pursuant • Ito this sanction were money •to which such Gazette notice | applies. 3— The said loan or any part [thereof, together with inter I est, thereon, shall be repaid I by any of the following meth ! ods of repayment:— *<ai 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 1.70 I per cent per annum of I the amount of the loan or | of that issue, as the ease j may be (other than any part being repaid pursu -! ant to sub paragraph (ai of this clause) for the time being borrowed and' j not repaid. 4— No interest, instalment of' I principal and interest or pax men! to a sinking fund shall be paid outside New Zea-1 land or out of loan money. 5 — No agreement or arrange-! j ment shall be entered into! with anx 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 anx deben- I tures oi stock in satisfaction! of all or part of the price | for the carrying out of such , work. » 6— No agreement or arrange-! ment shall be entered into with anx person to invest loan) monies or any part or parts | thereol raised in accordance I with the terms of this sane-; lion wherebx- such investment would \ ield a rate of interest j less than that which would |be paid by the National Provident Fund on deposits with the Local Authorities Invest-! ment Pool from time to time. 7— Commission or fees may be paid in respect of the raising of the said Loan or any part thereof as the Board I \ max determine from time to; | time." The security for the loan shall be a special rate rtf such amount each year upon the rateable value of all rateable property in the Borough of Lyttelton as may in that year provide sufficient revenue for the pyment of the annual charges in respect of the loan plus 10 per cent thereof which rate shall con j tinue until the loan is paid ; off. At current values the I (Special rate would amount to J $.0056 cents in the dollar upon I I the annual rate of all rate- < able property in the Bor- i ough. It is not proposed to t levy or collect this rate inn- < less unforeseen cirmcum- I stances prevail) but to meet t loan charges from ordinary 5 revenue. s Notice is further given that | a poll of ratepayers is re-lr quired to be taken if fifteen ner cent of the ratepavers of the Borough of Lyttelton sop demand by writing under*c their hands delivered or sent;I jto the Town Clerk. Lyttelton ( Borough Council Offices. cnr| r London and Canterbury j 1 Streets, Lyttelton not later * than 9 a.m on Monday, De-i 1 cember 11. 1978. ■* DATED this 14th day of No- c vember, 1978. D. A. HILLIER, ( c Principal Executive Officer. 1 2697 c . BANKS PENINSULA f A. & P. ASSOCIATION ri 67TH ANNUAL SHOW I at LITTLE RIVER 'c SATURDAY JANUARY 20, | 1979 ! ENTRIES for all main Sec-jj i tions close on FRIDAY. 29th;. DECEMBER. 1978. at 9 p.m. DOMESTIC and FRUIT AND . VEGETABLES close on WED- } NESDAY 17th January. 1979. , at 9 p.m. t FLOWERS close 10 a.m. on | $ the morning of the Show s The Secretary will be at : j the Little River Library on ; December 29th and January j 17th from 7 p.m. to 9 p.m. tojx receive entries. For Schedules and Trade Space apply to:— The Secretary, (Mrs) N. Harmer, PHONE 325. Little River. * 1126 I' «r I si l> i ■ SPECIAL GENERAL MEETING ■; I WISH to notify all members, j that a Special General Meet-'g ing of the Suburbs Rugbx J Football Club will be held in. r the clubrooms, 99 Mathers Rd. j Hoon Hay. on Monday, Dec- j ember 11, at 7.30 p.m. t Purpose of this meeting is - p to consider an increase in it subs, for playing and non ( playing members for the com- I ing season. c D. M. TAYLOR. Hdn. Sec. 86718