OHURA LOAN PLAN
CONVERSION ORDER CARRIED.
CHAIRMAN’S CASTING VOTE GIVEN.
On the casting vote of the chairman, Cr. J. Caird, the Ohura County Council at a special meeting yesterday passed the necessary special orders in connection with the consolidation and conversion of the county loans. Crs. McKenzie, Romayne and the chairman voted in its favour and Crs. Renner, Fauchelle and Denison opposed it. The resolution will need to be confirmed at the next ordinary meeting to be held after 14 days. . The conversion and consolidation applies to the State’ Advances loan, totalling £55,319 and to the Public Trustee totalling £17,860. These have been consolidated and now represent £33,815 to the State Advances and £15,76(1 to the Public Trustee, after having taken into account the accrued sinking fund and the necessary premium. Interest on the loans will be per cent., with a sinking fund to provide for repayment in 28 years. ' The conversion, it is understood, Will mean a saving of £lO2O per annum to the county and will take effect, from the beginning of the next financial year.
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Bibliographic details
Taranaki Daily News, 19 January 1935, Page 7
Word Count
178OHURA LOAN PLAN Taranaki Daily News, 19 January 1935, Page 7
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