COUNCIL LOANS CONVERSION
AMENDED SCHEME APPROVED. The amended schemes for conversion of the following loans submitted by Messrs. J. H. Francis and Co. Ltd. were approved by the New Plymouth Borough Council last night: Drainage loan of £162,000, Egmont National Park loan £3500, Pioneer Road loan £l2OO, various State Advances loans £12,034. It was decided that in regard to the council’s request that a clause be inserted in the conversion proposals giving the council the option of repaying debentures any time after 1943, Messrs. Francis and Co. Ltd. be informed that the council would like this date retained if possible, but that if the firm was unable to get an agreement to any date between 1943 and 1950 then it should agree to the suggestion of the secretary of the Loans Board that the date be 1950. It was decided that a written assurance be given to the A.M.P. Society that the council had no intention in the near future of floating a new loan for any purpose. A letter was received from the Egmont National Park Board (North Committee) agreeing to the scheme of loan conversion in so far as it affected the £3500 Egmont National Park Ipgp.
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Taranaki Daily News, 19 June 1934, Page 3
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199COUNCIL LOANS CONVERSION Taranaki Daily News, 19 June 1934, Page 3
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