WELLINGTON LOANS.
THREE ISSUES AUTHORISED.
OVER £162,000 INVOLVED
Authority for the raising of three loans totalling £162,200 has been obtained by the Wellington City Council. The largest of the three amounts is the street works loan (1920) renewal loan, which totals £93,400. r lhe torm of the loan is three years at 4| per cent., with a sinking fund ■ contribution at the rate of 2 per cent, a year. The general improvements loan (1920) renewal loan is for £56,500, extending over three years at 43 per cent., with similar provision for the sinking fund. A sum of £12,300 will he raised under the "baths loan (1920) renewal loan, the term of the loan being three years and the interest and sinking fund payments being the* same as for the other two. The Manawatu-Oroua Electric Powdr Board is' empowered to raise £3200 over a period of 10 years, the issue being a redemption loan. Interest in this instance will bo at tho rate of 5J- per cent., the annual contribution to the sinking fund being at the rale of 8 per cent.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21113, 22 February 1932, Page 10
Word Count
181WELLINGTON LOANS. New Zealand Herald, Volume LXIX, Issue 21113, 22 February 1932, Page 10
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