BOROUGH OF WHANGAREI.

New Zealand Herald, Volume XLVIII, Issue 14587, 25 January 1911, Page 8

BOROUGH OF WHANGAREI.

THE PROPOSED LOAN.

[BY telegraph.— correspondent.]

Whangarei, Tuesday. At a special meeting of the Borough Council last night (lie following -resolutions were adopted relative to the proposal to borrow the sum of £28,000 for various works in the borough :—

That this Council proposes to borrow £19,200 for the purpose of the formation and construction of streets and footpaths, and for surface drainage, in tue Borough of Whairgarei, and offers as security for the same a special rate of four-fifths Of a penny on the capital value of all ratable property in the borough." . " That a further sum of £800 bo raised for the construction of a bridge over the Waiarohia Creek, at Walton-street, and that a special rate of one-thirtieth of a penny in the £ on all ratable property in the borough, be offered as security for the earno. Both the above loans shall be taken up under the provisions of the Stateguaranteed Loans Act, 1909, and its amendments, the first year's interest and the cost of raising the loan to be paid out of the loan." . .

"That the sum of £8000 be raised by loan for the purpose of acquiring a site, if necessary, and building a municipal hall and offices, and that the Council should offer as security for the saipe a special rate of one-third of a penny, in tho £ on the capital value of all ratable properties in the borough, the . first year's interest and the cost of raising the loan to be paid out of, the loan,, and .after having been submitted to the borough solicitor, : the preliminary application to be sent to the State-guar-anteed Loan Office."