REDEMPTION LOAN
DRAINAGE BOAR"* FINANCE Resolutions necessary io enable the board to raise a sum not exceeding £95,000, required for the redemption of loan No. 2 maturing on November 15, 1932, wero carried at a special meeting of Iho Auckland and Suburban Drainage Board yesterday afternoon. These resolutions were in confirmation of a special order made by llie board a month ego. The resolutions provided for the issue'of debentures in respect of the loan and for the temporary hypothecation of these to the Bank of New Zealand as security for a temporary advance at the London branch of the hank lo enable the board to redeem the outstanding liability in respect of tlio existing loan. The new loan will be known as loan No. 10 arid will be at. a rate of per cent and for a term of 30 years.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 12
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141REDEMPTION LOAN New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 12
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