Special Rate To Finance Loan
To finance the Whangarei Borough Council’s electricity reticulation loan of £60,4000, the council last night decided on a special rate of 1.19928 c! in j the £ upon rateable value on the unimproved value. ! The council decided to proceed with ! the raising of the loan and issue of isecurities and passed a formal resoldj tion levying the special rate on all j rateable property within the borough, | to be an annual recurring rate during | the 25 years currency of the loan from (July 1. 1947. or until the loan was ! fully paid off.
j Tho Mayor (Mr W. Jones) and the j town clerk (Mr L. O. Hall) were authorised to sign the debentures.
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Bibliographic details
Northern Advocate, 4 June 1947, Page 2
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118Special Rate To Finance Loan Northern Advocate, 4 June 1947, Page 2
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