DRAINAGE BOARD LOAN.
DEBENTURES FOR £25,000, A series of resolutions adopted at a special meeting of the Auckland and Suburban Drainage Board yesterday made provision for the placing of a loan of £25,000. in fifty debentures bearing interest at the rate of £5 12s 6d per cent, per annum, the debentures to be issued at par. The money is required in connection with construction works now in hand. ■ The placing ,of the Joan, which Sis being arranged through the Bank of New Zealand, will bring the total borrowings of the board since it commenced operations in 1909 to £500,000. The board by its enabling act is still empowered to borrow a further £IOO,OOO from time to time as required.
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Bibliographic details
New Zealand Herald, Volume LXIII, Issue 19513, 17 December 1926, Page 14
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119DRAINAGE BOARD LOAN. New Zealand Herald, Volume LXIII, Issue 19513, 17 December 1926, Page 14
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