POWER SUPPLY
POVERTY BAY SEEKING LOAN
(By Telegraph—Press Association.! GISBORNE, September 30,
In order to finance extensions to lines and the strengthening of the reticulation to deal with the constantlygrowing demand for electrical services, the Poverty Bay Power Board will apply to the loans board for authbrity to raise £75,000 by loan, this sum being estimated as sufficient to meet the requirements of the next three years. The board does not propose to take a poll of ratepayers on the loan unless objections received oblige it to take this course.
It was. explained at today's meeting that while it will be necessary to provide for a rate to secure the loan, there is no more likelihood of the rate being collected in respect of this loan than there was when the board previously raised moriey for capital expenditure, the extension of the board's business and revenue being adequate to cover the interest, sinking fund, and replacement reserve allocations.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19381001.2.103
Bibliographic details
Evening Post, Volume CXXVI, Issue 80, 1 October 1938, Page 13
Word Count
158POWER SUPPLY Evening Post, Volume CXXVI, Issue 80, 1 October 1938, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. 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