Page 29 Advertisements Column 4

Press, 18 October 1980, Page 29

I Public Notices riMr < [ Ww | I tafei WAIHAHU COUNTY COUNCIL. I MAIN ROADS I CONSTRUCTION LOAN, 1980 $300,000 IT is hereby puclicly notified that the Waimairi County Council at a meeting held in the Council Chambers, Fenrialton, on Monday, September 29. 1980, passed the following resolution: ("That in pursuance and exer- | cise of the powers vested in i it by the "Local Government I Act 1974" and the Local Auj thorities Loans Act 1936 and amendments thereto, and all other Acts 'if any) enabling it in that behalf, and by virtue of the sanction of the Locat Authorities Loans Board, granted a a meealng of the Board held on September 16, 1980 the Waimairi County Council hereby re: solves to proceed to raise in New Zealand, a loan to be ksown as the Main Roads Construction Loan 1980 for an amount of Three Hundred Thousand Dollars ($300,000) for the purpose of carrying out construction works on- Wooldridge, Sawyers Arms and Mairehati Roads, subject to the following determinations: 1. The maximum term for which the said loan or any part thereof may be borrowed shall be 6 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 3ib> hereof, any I amount borrowed for less I than 6 years shall not I exceed 40 per cent of the I issue, and shall be borrowed ■ for 3 years and/or 4 years I and/or 5 years. )2. Tlte 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. 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 13.13 per cent petannum where the actual term is for 6 years or 13.46 per cent per annum for all other terms of the amount of the Loan or of that Issue, as the case may be (other than any part being repaid I pursuant to sub paragraph ta) of this Clause), for tlte time being borrowed and not repaid. 4. No interest, instalment of principal and interest or payment to a sinking fund shall, be paid outside NewZealand- 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 satisfaction of all or part of the price for the carrying out of such work. 6. No agreement or ar- j range-ment shall be entered ; into with any person to invest loan moneys or any part or parts thereof raised ) in accordance with the j terms of - this sanction ) whereby such Investment | would yield a rate of inter- j est less than that which ; would be paid by the Nation- , al Provident Fund on depo- I sits with tiie Local Author- | itles investment Pool from time to time. 7. Commission or fees may be paid in respect of the raising of the said loan or | anv part thereof as the I Board may determine from time, to time. 8. That-the security for the repayment of the said loan : and the charges thereon ; shall be a special rate, of ; 0.01153 cents in the $ (dollar) i on the capital rateable value | of all rateable property in the County of Waimairi. 9. That no money shall be borrowed under this san- , ction where no part of this I loan has been raised, within ; three years after the date of the sanction and the author- , ity shall lapse at the expira- i lion of that period and no I proceedings shall thereafter I be taken for raising the said i loan.” ■ ; Pursuant to the “Local i Authorities Loans Act 1956” it is hereby further publicly notified that the foregoing resolution will- be subtnitted to a meeting of the Waimairi County Council to be held in the Council Chambers Fendalton at 7 p.m. on Wednesday, October 29, 1980 for confirmation as a Special Order. further public notice is given that a roll of ratepayers is required to be taken if fifteen- per cent of the ratepayers so demand in writing under their hands delivered or sent by post to the undersigned before 9 a.m. on the date fixed for the confirmation -of the resolution hereinbefore mentioned. J. REID, County Clerk. County Office, FENDALTON. October 4, 1980. "THE PRESS” NEW SECTIONAL MAPS I COMPREHENSIVE index ftiv- ! fng street locations. listing I places of interest, city ana j country hotels and taverns. $3.50 Also our popular pocket and wall maps. From THE CHRISTCHURCH PRESS CO. LTD.