CHRISTCHURCH DRAINAGE BOARD.

Star (Christchurch), Issue 17527, 2 May 1925, Page 8

CHRISTCHURCH DRAINAGE BOARD.

DEBENTURES AGAIN AVAILABLE £50,000 AT 5i PER CENT. Applications for this much-fa you red gilt-edged investment, providing an assured liberal income, will no doubt rapidly cause this loan to become fullysubscribed. The price of issue is par. Debentures in nominations of £IOO. £SOO and £IOOO may be taken up. Payment of interest in full, without deduction of any sort, will be made on the 31st March and the 30th September of each year. Interest is calculated from the date of receipt of application money. This loan is the second instalment of a loan of £700.000 authorised by “The Local Bodies Loans Act, 191 b” and ‘ The ('hristchurch District Drainage Act, 1907.” The debentures are secured by a Special Rate of id in the £ on the capital value of an area valued at £14.500,000 and l*d in the £ on the capital value on an area valued at £0.500.000. They will alwavs be readily negotiable. Exchange will be paid bv the Board on all accepted application monev. Principal and interest will also be pavablc. free of exchange at anv branch of the Bank of New Zealand within the Dominion. Income derived from local Government Debentures of this description is also subject to a special tax conBrokerage of 10s per cent will be paid t.j Registered Sharebrokers and to Banks doing business in the DomPrompt application should be made to the secretary *,f the <. hristchurch Drainage Board. 198. Hereford Street. Christchurch Copies of Prospectus will be mailed on request, or may be obtained from any Registered Sharebroker or Bank.