LOCAL BODIES’ LOANS

New Zealand Times, Volume XLIX, Issue 11304, 1 September 1922, Page 4

LOCAL BODIES’ LOANS

GOVERNMENT SANCTIONS GRANTED. OBJECTS AND RATES OF INTEREST. The “Gazette” contains _ _ a notice sanctioning the _ raising of loans by local bodies as follow;—Eltham Borough Council (public hall, offices, and librairy lo® ll redemption), £3200; Bgmont County Council (repaying its antecedent liability), £12,500; Grey County Council (repaying - its antecedent ■ liability), £11,500; Wairaxapa South . County (repaying its antecedent liability), £6000; Hawke’s Bay Rivers Board (repaying its antecedent liability), £4815; Kairanga County Council (widening and Temetalling Foxton lane road and treating surface with ter and asphalts, concrete channelling, and widening and remetalling Kairanga - Bunnythorpe road and treating surface with, tar and asphalts), £2200; Kairanga County Council (widening and remetalling Kai-ranga-Bunnythorpe road and treating surface with tar and asphalts), £2150; Kairanga County Council (widening and remetalling Rangitikei Line road apd treating' surface with tar and asphalts)', £6oo;' Woodville Borough Council (paying the council's contribution to the Manawatu Gorge Board of Control), £530: Hiutt County Council ((street ohapnsflling and surface drainage), £500; Feilding Borough Council (paying the, council's contribution to (he Manawatu Gorge Board of Control), £330. At. a rate, of interest not exceeding 6 per .cent., 'sanction has been given to the Wellington City Council to raise, a loan of £IO,OOO to provide funds for the repayment of all compensation moneys or- purchase moneys payable in respect of land taken or purchased under the provisions of the Wellington City Milk- Supply Act, 1919.. The term of the loan is for. not less than ben years. - Consent has been given to the Horowheiiua County Council to raise a loan of £9OOO for not' less than ten years, at 6( per cent., for .the purpose of repaying its antecedent liability. Other loans approved are: Picton Borough Council, £2OOO, ten years ait 6 per cent ., to make advances to owners requiring assistance to metal sewerage to their properties in speoial drainage area; and Lower Hutt Borough Council, £BOOO, for ten yeans at six per oent., to repay antecedent, liability.