ROTORUA LOAN SCHEME

New Zealand Herald, Volume LXXIII, Issue 22406, 30 April 1936, Page 12

ROTORUA LOAN SCHEME

£25,000 FOR BUILDINGS BOARD'S APPROVAL RECEIVED [BY TELEGRAPH —OWN CORRESPONDENT] ROTORUA, Wednesday A loan of £25,000 to erect municipal buildings at Rotorua, consisting of municipal offices, concert hall, council chambers, museum, library and municipal theatre, has been approved by the Local Government Loans Board. Advice to this effect was received by the Rotorua Borough Council at its meeting to-night. Tho board stipulated that the term of the loan should bo 30 years, with interest at 3i per cent. The loan was not to bo proceeded with or the building commenced until the final plans and specifications had been approved by the Public Works Department. Tho sum sanctioned was to be reduced by any amount available as the building proC6cds« A letter was also received from the chief inspector of films stating that the department had concluded its investigations concerning an application for an exhibitor's licence for the proposed municipal theatre. A report had been prepared ahd would bo submitted to the Cabinet for a final decision. The two letters -were received, the Mayor, Mr. T. Jackson, stating that nothing could be done until advice was received that Cabinet had approved tho application for an exhibitor's licence.