Page 8 Advertisements Column 1

New Zealand Herald, Volume LXXIII, Issue 22389, 8 April 1936, Page 8

CORPORATION NOTICES jgOROUGH OF DEVONPORT. PROPOSALS TO RAISE SPECIAL LOANS UNDER "THE LOCAL BODIES LOANS ACT," X92G. The Devonport Borough Council hereby gives public notice, pursuant to Section JO of "The Local Bodies Loans Act, 1926,' of proposnl& to raise four (4) separate Special Loans, upon which a Poll of Ratepayers will be taken on FRIDAY, the Ist May, 1936.'' PROPOSAL No. 1: STREET WORKS (Fifteen Thousand Pounds), £15,000. For the purpose of permanent improvements to streets and stormwater at (1) Patuone Place, (2) Grove Road. (3) Matai Road, (4) Bond Street, (5) Mozley Avenue / East, (6) Mozley Avenue West. (7) Mays Street, (8) Hamana Street, (9) Jlerani Street, (10) Hemi Street, (11) Wicklow Road, (12) /Kerr Street (13). Waterview Road. (14) Glen Road. (15) Russell Street and (16) Summer Street, subject to the following conditions: — (a) The term for which the said Loan or any p;(rt thereof may be borrowed shall be twenty (20) years. (b) The rate of interest that may be paid in respect of the said Loan or any part thereof shall be such as shall not produce to the lenders a rate exceeding Throe Pounds Ten Shillings (£3 10s) per centum per annum. ~ (c) Provision for redemption of the saici Loan within the term of the Loan will bo made by the establishment of a sinking fund, caloulated on the amount to be raised, of not less than Three Pounds. Ten Shillings (£3 10s) per centum per annum. , . _ t ii_« (d) The security for the repayment of the said Loan will be an annual recurring special rate of 17-64ths (Seventeen Sixtyfourths)" of a penny-in the £ on the basis of • the unimproved value of all rateable property in the whole of the Borough of Devonport. , . ie) No portion of interest or sinking fund or any costs, charges or expenses incurred in raising the Loan will bo paid out of Loan moneys. (f) The payment of interest and repayment of principal in respect of the Loan shall be made in New Zealand. PROPOSAL No. 2: WATER MAINS £10,700 (Ten Thousand Seven Hundred , Pounds). v For the purpose of concrete-lining by Tate Process and renewing where necessary of water mains over the of IV>rough reticulation, subject to the follow ing conditions: — (a) The term for which the snid loan or any part thereof may be borrowed shall be twenty (20) years (b) The rate of interest that may be paid in respefct of the said Loan or any part thereof shall be such as shall not pro- ' duce to/ the lenders a rate exceeding Three Pounds Ten Shillings (£3 10s) per centum per annum. , (c) Provision for the redemption of the said Lo ? n within the term of the Loan will be-made by the establishment of a sinking fund, calculated on the amount to be raised, of not less than three pounds ten shillings (£3 10s) per centum per annum. , . , (d) The security for the repayment of the said Loan will be an annual recurring Special Rate of 3-16ths (three-sixteenths) of a penny in the £ on the basis of the unimproved value of all rateable property in the whole of the Borough oi Devonport. . (e) No portion of interest or sinking fund or any costs charges or expenses incurred m raising the Loan will be paid out of Loan moneys. (f) The payment of interest and the repayment of principal in respect of the Loan shall be made in 3New Zealand. PROPOSAL No. 3: MUNICIPAL BUILDINGS. £7OOO (Seven Thousand /' Pounds). For the purpose of erecting .Municipal Buildings, Library, Plunket Rooms, Ladies Rest Room and Public Conveniences, subject to the following conditions: — (a) The term for which the said Loan or any part thereof may be borrowed shall be (30) thirty years. (b) The rate of interest that may be paid in respect of the said Loan or any part thereof shall be such as shall not produce to the lenders a rate exceeding Three Pounds Ten Shillings (£3 10s)

per centum per annum. (e) Provision for redemption of the said Loan within the term of the Loan will be made by the establishment of a sinking fund, calculated on the amount to be raised, of not less than Two Pounds (£2) per centum per annum. (d) The security for the repayment of the said Loan will be an annual recurring Special Rate of 7-64ths (Seven Sixtyfourths) of a penny 'in the £ on the basis of the-' unimproved value of all rateable - property in the whole of the Borough' of Devonport. (e) No portion of interest or sinking fund or any costs charges or expenses incurred in raising the loan will be paid out of Loan .moneys. (f) The payment of interest and repayment of principal in respect of the Loan snail be made in New Zealand. PROPOSAL No. 4: 'CHELTENHAM KIOSK AND BATHING ACCOMMODATION,'£4OOO (Four Thousand Pounds). For the purpose of erecting Kiosk and Bathing Accommodation at Cheltenham Beach, subject to the following conditions:— (ft) The term for which the said Loan or any part thereof may be borrowed shall be twenty-five (25) years. (b) The rate of interest that may be paid in respect of the said loan or any part thereof /shall be such as shall not produce to the lenders a rate exceeding Three Pounds Ten Shillings (£3 10s) per centum per annum. /<c) Provision for redemption of the said Loan within the term of the Loan will be made by the establishment of a sinking fund calculated on the amount to be raised, of not less than Tjvo Pounds Ten Shillings (£2 10s) per centum per annum. (d) The security for the repayment of the said Loan will be an ,annual recurring Special' Rate of l-16d (One-sixteenth of a penny) in the £ on the basis of the unimproved value of all rateable prov P ?rt y the whole of the Borough of Devonport. (e) No portion of interest or sinking fund or any costs charges oj expenses incurred in raising the Loan will be paid out of Loan moneys. (f) The payment of interest and the repayment of principal in respect of- the Loan ehall be made in New Zealand. A. E. WILSON. Town Clerk. Devonport, April 1, 1936. I hereby'/ give notice, pursuant to Section 11 of "The Local Bodies Loans Act, 1926," that a Poll of the Ratepayers of the Borough of Devonport on the above-men-tioned Loan Proposals (4) will be taken on FRIDAY, the Ist day of May, 1936, between .the hours of 9 a.m. and, 7 pm. H. F. W. MEIKLE. Mayor.

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