Page 36 Advertisements Column 11

Press, 20 December 1978, Page 36

SHORELINE NITECLUB and CABARET i » ,-s. top CHCH _ Gmt Aritt this VMt K FRIDAY U JENNY THOMAS I SATURDAY TERRY KEARNS | jj|LytteitonB7; Public Notices CHRISTCHURCH CITY COUNCIL THE ELDERLY PERSONS' HOUSING (TORQUAY PLACE/ MANOR STREET) LOAN 1978 - $75,400 NOTICE is hereby given that at an Ordinary Meeting of the Christchurch City Council held on Monday, the 18th dav of December, 1978. the fob (lowing resolution was passed (and will be submitted for con firmation a s a Special Order [at an Ordinary Meeting of (the Council to be held on Monday, the 19th dav of Feb ruary., 1979. 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 Ixical 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 loan to be known as the Elderly Persons’ Housing (Torquay Place / Manor Street) Loan, 1978—575,400, for the purpose of erecting 14 elderly persons’ housing units, subject to the following determinations: (1) The term for which the said loan or any part thereof may be borrowed

shall be 30 years; (2) The rate of Interest that may be paid in respect of the said loan or any part thereof shall be aucli as shall not produce to the lender or lenders a rate of rates exceeding 3.5 per cent per annum: <3) -Notwithstanding anything in clause <2) hereof, the rate of interest may be increased or reduced not less than three years after such part of the loan is bor.owed and at intervals of not less than three years thereafter to i a rate not exceeding the rate for the time being fixed by the Housing Corporation of New Zealand for new loans granted for similar purposes provided that in no case shall the rate of interest be increased to a rate in excess of maximum rate for the time being determined by the Minister of Finance pursuant to section 9 of the Local Authorities Loan Act 1956; (4) The said loan of any part thereof, together with interest thereon, shall be repaid by equal aggregate annual or halfyearly instalmentsextending over the term as determined in clause hereof; (5) The payment of all such instalments shall be made in New Zealand and no such instalment shall be paid out of loan monej; '6) Such further conditions that may be stipulated by the Mortgage Loans Committee of the Housing Corporation of New Zealand.’ 5 OL J H. GRAY, I Genejrfi j»iauager and Town Ciers 7881