CHRISTCHURCH DRAINAGE
FINANCIAL DIFFICULTIES ANOTHER LOAN PROPOSED (Special to THE SUN.) CHRISTCHURCH. Thursday. Because difficulties have arisen, the original estimate of the cost of extending the sewerage system in Christchurch has been exceeded in order to complete the present scheme. Further loan money will have to be raised in Christchurch. The Drainage Board intends to promote a Bill authorising the raising of an additional sum up to £250,000. The position is that the board raised a £700,000 loan in order to carry ouf the extension scheme, and has received £565,700 of that amount, the balance being payable in instalments. It was disclosed at the last meeting that £461,174 had been expended, and that £104,525 was still in hand. The balance, added to the amount yet to be received under the sale of loan debentures, totals £238,825. So far the contracts let for the sewering of eleven sub-districts and other works involve an expenditure of £546,647 under the contracts. £394,507 has been paid, leaving a liability of £152,140. When this liability under contracts is deducted from the amount in hand, or to be received from the loan moneys, all that is left is £86,685 with which to finish the scheme
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19270701.2.131
Bibliographic details
Sun (Auckland), Volume 1, Issue 85, 1 July 1927, Page 12
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199CHRISTCHURCH DRAINAGE Sun (Auckland), Volume 1, Issue 85, 1 July 1927, Page 12
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