Page 36 Advertisements Column 3

Press, 20 December 1978, Page 36

Public Notices IN BANKRUPTCY ■Jane Teresa BEAVEN of 24 Shrewsbury Street, Christchurch, Manufacturer, trading as “J. T. Beaven.” was adjudged bankrupt on Decern ber 19, 1978. Date of first meeting of creditors will be advertised later. Ivan A. Hansen, OFFICIAL ASSIGNEE. CHRISTCHURCH. I < CHRISTCHURCH CITY COUNCIL THE METROPOLITAN REFUSE DISPOSAL SCHEME LOAN 1978 - $4,100,000 NOTICE is hereby given that at an Ordinary Meeting of the Christchurch City Council held on Monday, the 18th day of December. 1978. 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 ' Mondav, the 19th day of February 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 Local Authorities Loans Act 1956. and all amendments thereto, and all other Acts (if anyi 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 Metropolitan Refuse Disposal Scheme Loan 1978 —$4,100,000, for the purpose of providing its share of the finance for the purchase and development of land, the purchase of plant and equipment and the construction of transfer stations for the Metropolian Refuse Scheme, subject to the following determinations: |J) The maximum term for which the said loan or any part thereof may be borrowed shall be 20 \ears, provided that: iai Where the method of repayment is in accordance with clause 3(a) hereof, the minimum term shall be not less than six 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 401 per cent of the issue, and ; shall be borrowed for: three years and/or four) \ears and/or five years. ■2l 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 rate for the time being specified by 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. i,3) The said loan or any part thereof, together with interest thereon, shall be repaid b\ any of the following methods of repayment: ia> Bv equal aggregate annual or half-yearly instalments of principal and interest. <b) By e tablishing 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 ma v be (other than any part being repaid pursuant to sub-paragraph <a» of this clause), for the time being borrowed and, not repaid. , i <4) No interest, instalment ofi principal and interest or ■ payment to a sinking fund! shall be paid outside New; Zealand or out of loan ; money. ;i5) No agreement or arrange-, ment shall be entered; into with any person in respect of carrying out I 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 satisfaction of all or part of the price for the carrying out of such work. 6) No agreement or arrangement shall be entered into with any person to invest loan moneys or any I 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 j Investment Pool from ‘ time to time. I'7) Commission or fees may; be paid in respect of the: i raising of the said loan or any part thereof as the Board may determine; from time to time.*’ ■ J. H. GRAY. General Manager and Town Clerk. '