WAITEMATA ELECTRICPOWER BOARD.

Rodney and Otamatea Times, Waitemata and Kaipara Gazette, 19 February 1936, Page 5

WAITEMATA ELECTRICPOWER BOARD.

NOTICE OF PROPOSED LOAN

In the matter of the "ElectricPower Boards Act, 1925," the "Local Bodies' Loans Act, 1926,". and Amendments and Regulations made thereunder respectively, the WAITEMATA ELECTRIC - POWER BOARD, a body corporate duly constituted under the provisions of the 'Electric-Power Boards Act, 1925," hereby gives notice in. terms of the "Local Bodies' Loans Act, 1926," that it proposes to raise a Special Loan of £100,000 (one hundred thousand pounds) for the following purposes : —

For the purpose of purchasing, constructing,. and providing electric works as denned in the "ElectricPower Boards Act, 1925," in order to supply and to extend the supply of electricity within the whole of the Waitemata Electric-Power District.

1 (a) For the purpose of securing the repayment of the said Special Loan, a special annually-recurring rate of 9/64ths (nine sixty-fourths) of a penny in the £ will be made and levied upon the rateable value (on the basis of the capital value) of all the rateable property within the whole of the Waitemata ElectricPower District.

(b) The term for which the said loan or any part thereof may be borrowed shall be 25 (twenty-five)

years

(c) The said loan or any part thereof, together with interest thereon, shall be repaid by equal aggregate or half-yearly instalments extending over the term as determined in (b) above. (d) No portion of interest or sinking fund or-any costs, charges, or expenses incurred in raising the loan will be paid out of the loan monies.

(c) In respect of the works to be undertaken from the loan herein sanctioned, guarantees as prescribed in Clause 21 —43 of the Electrical Supply Regulations, 1935, shall first be given in favour of the Power Board for payments amounting in each of not less than five consecutive years from the completion of such works of at least 15% (fifteen per centum) of the estimated capital cost thereof.

3. R. MILLER, Acting-Secretary. Dated this 3rd day of .February, 1936.

In pursuance of Section 11 of the ■'Local Bodies' Loans Act, 1926," I hereby give notice that a Poll of the Ratepayers of the several constituent districts comprised in the Waitemata Electric-Power District will be taken on the proposal to raise the above-mentioned Loan, on WEDNESDAY, the 4th day of March, 1936.

W. R. T. LEIGHTON,