$4.5M loans approved
Two loans totalling $4.5 million were approved this week by the Christchurch City Council. The raising of $4 million for the electricity capital works of the Municipal Electricity Department was approved. The M.E.D. provided in its budget for loans of
$7,356,000. Loan authorities have already been obtained for $3.4 million. The extra $4 million is likely to be needed in February. A loan of $510,000 for buying the Shirley Library property was also approved. The council at present leases the library building.
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Press, 23 November 1988, Page 33
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85$4.5M loans approved Press, 23 November 1988, Page 33
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