TAURANGA POWER BOARD
CONVERSION OF LOANS [from OfR OWN correspondent] TAURANGA, Saturday A letter wns read at the monthly meeting of the Tauranga Electric-Power Board from the Public Trustee, Wellington, acknowledging the receipt of formal notice, required by the Tauranga Electric-Power Board loans conversion order of 1934, of the board's intention to issue a conversion loan in respect of the loans, totalling £105,500, from the Public Trustee.
In view of the provisions of section 18 of the Local Authorities Interest Reduction and Loans Conversion Act, 1932-33, the Public Trustee stated he had no effective alternative but to assent to the conversion, and accordingly' made formal application for conversion of the loans on the terms set out in Order-in-Council.
The engineer, Mr. J. R. Bongard, reported that inquiries from prospective consumers nnd increases in load on existing installations had been numerous.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21782, 23 April 1934, Page 5
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140TAURANGA POWER BOARD New Zealand Herald, Volume LXXI, Issue 21782, 23 April 1934, Page 5
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