CAMBRIDGE HIGH LEVEL BRIDGE.

Waikato Independent, Volume IV, Issue 250, 12 July 1906, Page 5

CAMBRIDGE HIGH LEVEL BRIDGE.

At the meeting of the Waipa County Council the New Zealand and South British Insurance Companies wrote stating they were not prepared to advance the Council £ISOO as a loan, for the Council's share of the high level bridge. The Government Life Insurance Department and the A.M.P. Society appeared to favourably entertain the application and the Auckland Savings Bank offered to provide the money at 4£ per cent. —Received.

The Chairman gave notice of motion that at the meeting of the Council to be held at noon on August 14th, he would move that a special rate be struck to provide interest on the loan.—

The Cambridge Borough Council notified that the contract for the erection of the bridge had been signed and that the material for the bridge would probably reach Auckland in November. A request was also made for payment of one half of the Council share of cost. — Resolved that the letters be acknowledged and that the Borough Council be informed that, according to the Public Works Act, the Waipa County Council could not be called on to pay its share of cost until the work was completed.— Discussion then took place as to the length of term in which the loan should be repayable.—

Cr. Allen moved that the term be 80 years.—

Cl\ Duxfield moved an amendment that the period be 40 years, on the ground that it would be wiser to extend the term of payment. — The motion, on being put to the meeting, was carried on the casting vote of the Chairman.