SUBURBAN DRAINAGE.
; - • ; » LOAN OF £100,000. . "NO DELAY." - Tho City Council last night passed formal •esolutions rogarding tho £100,000 loan for Iraimigo of-portions,of the Melrose district; . Tho Mayor said ho thought it best after luo inquiry that tlio loan should bo floated m tho London 'market, where the Council's jonds stood high, rather • than locally. Ho lid not think the rate obtainablo hqrc would, 10 satisfactory, but on tho London 'market I por cent, bonds could bo issued at such a nun as would give the oity as good a return ts had lately been obtained—at any ruto as ;ood as that on the'loan 0f.£235,000. Councijlor Luke hoped the Mayor's propolal in regard to the loan '.would- not' load to my delay in starting the work,, which ho regarded, as absolutely necessary. for> tho lealth of •the community. . : The Mayor said there need bo no delay, is 'arrangements; could bo made with the jank, and the City Engineer had been instructed accordingly. Arrangements could jo mado to include Wadestown . and North-' and, if thoy consented to pay the saino special rate.
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Bibliographic details
Dominion, Volume 1, Issue 169, 10 April 1908, Page 9
Word Count
180SUBURBAN DRAINAGE. Dominion, Volume 1, Issue 169, 10 April 1908, Page 9
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