SINKING FUND
POWER BOARD’S LOANS ANNUAL APPROPRIATION INCREASED. “MATTER FOR NEGOTIATION.” The representations of the North Auckland Power Board 1 to the Loans Board that the payment of sinking fund in connection with the board’s loans should be deferred during the first two years, has been agreed to-, but the Loans Board has increased the annual appropriation by 8/- per cent, for the remainder of the term of the loans 1 to enable repayment within the 25 years originally stipulated. “This is .a matter for negotiation,” said the chairman, at yesterday’s meeting of the Power Board. “It is in the first two or three years that the board will require some relief, but I do not approve of increasing the amount of the sinking fund over the balance of the period.” Mr W. Collins; “We have the alternative, of course, that we can carry on as originally stipulated. Eight shillings per cent, over the balance of the period would amoun; to a good' deal of money.” The matter, for further negotiation, was left with the chairman.
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Bibliographic details
Northern Advocate, 14 August 1935, Page 8
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176SINKING FUND Northern Advocate, 14 August 1935, Page 8
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