Page 70 Advertisements Column 3

Press, 31 May 1986, Page 70

Public Notices RANGIORA DISTRICT COUNCIL WOODEND BEACH SEWER REDEMPTION LOAN 1986 - $45,000 NOTICE is hereby given that a meeting of the Ranglora District Council held on Monday, May 5,1986, the following resolution was passed and will be submitted for confirmation at an ordinary meeting of the Council to be held on Monday, June 23, 1986 at the Council Chambers, High Street, Ranglora. RESOLUTION

“That in pursuance and in exercise of the powers conferred on it by the local Government Act 1974 and amendments and regulations thereto and all other powers enabling the Ranglora District Council hereby resolves by way of special order to borrow the sum of forty-five thousand dollars ($45,000) by way of a loan to be known as the Woodend Beach Sewer Redemption Loan 1986 — $45,000 for the purpose of repaying at maturity that portion of the Woodend Beach Sewerage loan 1978 — $99,000 which matures on Ist July, 1986, subject to the following conditions: 1. The maximum term for which the said loan or any part thereof may be borrowed shall be 30 years, provided that where the method of repayment Is In accordance with clause 3(a) hereof, the term shall be not less than 6 years. 2. 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. 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. 4. No Interest, Instalment of principal and interest or payment to a sinking fund shall be paid outside New Zealand or out of loan money. 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 arrangement shall be entered Into with any person to invest loan monies or any 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 Investment pool from time to time. A copy of this special order is deposited at the office of the Ranglora District Council and is open for inspection by the public during ordinary office hours until 9 a.m. on June 23, 1986. Pursuant td the provisions of the Local Authorities Loans Act 1956 it is hereby publicly notified that a poll of ratepayers Is required to be taken if not less than fifteen per cent (15 per cent) of the Ranglora riding so demand by writing under their hands delivered or sent by post to the undersigned before the date for the confirmation of the foregoing resolution.” L. D. WILSON, County Clerk.

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