BOROUGH COUNCIL

Greymouth Evening Star, 20 January 1939, Page 4

BOROUGH COUNCIL

LOAN RESOLUTION’S Formal resolutions. Io he coiilirmed at. a special meeting on February 23, were adopted by the Greymouth Boiottgh Council, at a special meeting held last evening. The Mayor (Mr. F. A. Kitchingham) presided, and the following were also present: Crs. F. F. lioustridge. .1. B. Kent, ,1. Anderson. (I. R. Harker. A. 11. I’aterson. It. .)• Williams, (’. Neville, and ,L Saunders. The resolutions, which were formally moved by the Mayor, were as follow: . In pursuance and exercise ol me powers vested in it by •'The Local Bodies Loans Act 1926” and -Local Bodies' Finance Act 1921-22” and m pursuance of all other powers and authorities enabling it in that behalf, the Greymouth Borough Council heteby resolves by way of Special ■ Order as follows: — “For the purpose of reimbursing the District Fund of the Council for moneys expended therelrom on removing a slip from and effecting repairs to Omoto Road in the Borough of Greymouth. the (Ireymouth Borough Council hereby authorises the raising of a loan of £1.900 for a period of ten years at such a rate of interest, us will not produce to the. lender or lenders a rate exceeding £3/10/- per centum per annum, and on the terms that the repayment of such loan shall be provided for by the establishment of a sinking fund calculated on the amount to be realised of not less than AS 10/- per centum, per annum.” In pursuance ami exercise ot the powers vested in it by ‘1 he Local Bodies Loans Act 1926” and “The Finance Act (No. 2) 1936” and in pursuance of all other powers and authorities enabling it in that behalf, the Greymouth Borough Council hereby resolves by way of Special Order as follows: — “For the purpose of reimbursing the District Fund of the Council for moneys expended therefrom in widening Omoto Road in the Borough of Greymouth. the Greymouth Borough Council hereby authorises the raising of a loan of £6OO for a period of ten years at such a rate of interest as will not produce to the lender or lenders a rate exceeding £3/10/- per centum per annum. and on the terms that the repayment of such a loan shall be provided for by the establishment of a sinking fund calculated on the amount to be raised of not less than £B/10/per centum per annum.” In pursuance and exercise of the powers vested in it by “The Local Bodies Loans Act. 1926” and “The Finance Act (No. 2) 1936” and in pursuance of all other powers and authorities enabling it in that behalf, the Greymouth Borough Council hereby resolves by way of Special Order as follows; —

“For the purpose of reimbursing the District Fund of the Council for moneys expended therefrom on unemployment relief works in the Borough of Greymouth, the Greymouth Borough Council hereby authorises the raising of a loan of £8,200 for a period of ten years at such a .rate of interest as will not produce to the lender or lenders a rate exceeding £3 10/- per centum per annum, and on the terms that the repayment of such loan shall be provided for by the establishment of a sinking fund calculated on the amount to be raised of not less than £B/10/- per centum per annum.”