HARBOUR IMPROVEMENTS.
LOAN BILL BEFORE THE HOUSE. [BY TELEGRAPH. —SPECIAL REPORTER.] WELLINGTON, Friday. The Auckland Harbour Board Loan and Empowering Bill, introduced by the Hon. A. M. Myers (Auckland East), is intended to confer on the board the power to borrow by debentures bearing interest at a rate not exceeding 5£ per cent, the sum of £1,000,000 for the construction of certain specified harbour works. The debentures are to mature in 20 years' time, and a 1 per cent, sinking fund for their repayment is required by the,- Bill. In addition, the board is authorised to raise, notwithstanding any provisions of law to the contrary, at the rale of 5i per cent, any money authorised to be raised by the Auckland Harbour Board Loan and Empowering Act of 1908 and not yet borrowed. The harbour works specified are : Eastern breakwater, eastern reclamation Hobson Wharf and equipment, roadinj; Freeman Bay reclamation, warehouse Quay Street, landing Central Wharf (completion and equipment), western tide deEwW*V"'
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New Zealand Herald, Volume LVI, Issue 17258, 6 September 1919, Page 10
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162HARBOUR IMPROVEMENTS. New Zealand Herald, Volume LVI, Issue 17258, 6 September 1919, Page 10
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