EXTENSION OF LINES
POWER BOARD WANTS £75,000 By Telegraph—Press Association GISBORNE, September 30. In order to finance extensions of lines and strengthening of reticulation to deal with the constantly growing demand for electrical services, the Poverty Bay Power Board will apply to the Loans Board for authority to raise £75,000 this sum being estimated as sufficient to meet the requirements of the next three years. The board does not propose to take a poll of the ratepayers on the loan unless objections received oblige it to take this course. It was explained at to-day’s meeting that while it would be necessary to provide for a rate to secure the loan, there was no more likelihood of the rate being collected in respect of this loan than there was when the board previously raised a loan for capital expenditure, the extension of the bead’s business and revenue being adequate to cover interest, sinking fund and replacement reserve allocations.
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https://paperspast.natlib.govt.nz/newspapers/THD19381001.2.50
Bibliographic details
Timaru Herald, Volume CXLV, Issue 21156, 1 October 1938, Page 8
Word Count
157EXTENSION OF LINES Timaru Herald, Volume CXLV, Issue 21156, 1 October 1938, Page 8
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