REMUERA ROAD BOARD.

New Zealand Herald, Volume LII, Issue 156, 30 June 1914, Page 9

REMUERA ROAD BOARD.

LOAN FOR WORKS.

Teb Remoera Road Board met last night.

Present: Messrs. J- Dempsey, chairman, J. B. Patterson, C. H. Furness, A. B. H«To-d. P. Spencer, and W. J. ParkerThe chairman announced that tho Aus-

tralian Mutual Provident Society bad agreed to advance a loan of £7900, the balance of tho read and drainage loan which the board was unable to secure from the Government. The terms upon. which the loan is to bo advanced' provide

that it shall have a currency of 36$ yeare,

at 5 per cent, interest, payable in Sydney fie* of exchange, the principal to be repaid at Sydney on maturity oi the loan. A 1 per cent, sinking fund is provided, anil the loan is to be taken in instalment, the first of which shall be for £2500, the second of £2500 jure© months later, and tho balance of £2900 in six months. These tenui, were accepted. In connection with the expenditure of this loan the engineer was instructed to prepare estimate* of cost and plans of tie forming, metalling, kerbing, channelling tarring and sanding on Orakei Road, firstly, from Remuera Road Is-, r»angitoto Avenue; secondly, from Romuera Road to Oxford Street; on -Green Lane" from South Road to Ascot Avenue, and in ! ; Vincent Road from Main Road to Risk I Roid. The report is to be handed to the ; board within four weeks. ? The rates for tho current year were ■ struck, the chairman explaining that there v had been a slight increase in the total h rates of the district on account of the ff Hospital and Charitable Aid Board's levy 'taring increased ■ from £900 to £1200. - - 11, ) ■■■■-