DRAINAGE WORKS
Wellington £200,000 Loan So far the Wellington City Council has not considered the raising of the £200,000 for drainage works recently sanctioned by the ratepayers. All along the city engineer, Mr. K. E. Luke, has stated that this was a job that would probably extend over four or five years, as from its very nature it will have to be done a section at a time in order not to interfere with the existing services. As to whether this money will be raised from financial companies or from the public by the sale of debentures has not yet been determined. Under these circumstances it is thought that it would be folly to raise the whole amount at onee and so become immediately liable for the interest. The money will be raised as it is wanted. It is understood that the city engineer has intimated that a sum of £50,000 will be required for the present financial year as initially a good deal of material and some plant will be required to make a start with the big job during the winter now approaching.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19370319.2.136
Bibliographic details
Dominion, Volume 30, Issue 148, 19 March 1937, Page 13
Word Count
185DRAINAGE WORKS Dominion, Volume 30, Issue 148, 19 March 1937, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in