CITY LOANS
Repayment of loans which the City Council will require to meet in the future are first, the city improvement loan of £25,000 due Ist September^ 1919, the second drawing of £100,000 loan, explains the Mayor. The sinking funds should be ample to discharge that liability. The next loan, £20,000, is that due in October, 1920, £20,000, the norse tramway loan. Sinking funds to meet this are estimated to produce £15,800 when the loan matures. On Ist December, 1920, the street- widening loan of £120,000 will mature. This will be met by £28,000 sinking funds only, the reason for this Being the short period of currency. Up to 1920 there is no disturbing factor. It was obvious, then, that at the present time it would bo imprudent to embark upon development work that is not absolutely necessary. So far as the council was concerned it was nob likely to go into the money market for funds to carry on works that can wait. The city's finances were satisfactory, and what work was now being done out of revenue was such as might be described as urgent, at least necessary.
Mr. and Mrs. J. Kelland will hold a meeting in the New Century Hall this •TtWBSr
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https://paperspast.natlib.govt.nz/newspapers/EP19150902.2.92
Bibliographic details
Evening Post, Volume XC, Issue 55, 2 September 1915, Page 8
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206CITY LOANS Evening Post, Volume XC, Issue 55, 2 September 1915, Page 8
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