POWER BOARD LOANS
AUCKLAND RAISING SUM OF £250,000.
(By Telegraph. Press Association.) AUCKLAND. This Day.
The Auckland Electric Power Board has accepted an offer of the Bank of New Zealand to raise the! sum of £250,000, the second instalment of the authorised loan of £650,000 in London. Interest will be at 5 per cent and the price of the issue will be £97. The date of maturity, and all other details of the loan, will he the same as for the first issue, namely, 20 years. Expenses will absorb approximately 4 per cent, ,th» cost of the loan to the hoard working out at about £5 11s Sd ,per cent. ' Inquiries in London showed that the offer was a good one, and the Power Board was recommended not to postpone acceptance. The board is now awaiting the consent to the loan of the Minister of Finance.
BAY •OF PLENTY WANTS £170,000
OPOTIKI. Monday.
A poll taken on Saturday by the Bay of plenty Power Board on a proposal to borrow £170„000 for reticulation and the financing of consumers was carried by 437 votes to 137. A three-fifths majority was tints easily obtained.
Members of the Powe r Board met to'-day and appointed Messrs Vickerman ancl Lancaster, of Wellington, engineers to the board.
COMPLETING THE TARANAKI
SCHEME,
ELTHAM, Monday.
The Taranaki Power Board’s proposal to raise a loan of £75,000 to complete the hydro-electric scheme was carried at the poll of ratepayers to-day by 392 votes to 61. Full power is expected to he available by Christmas. '
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Bibliographic details
Waipa Post, Volume 32, Issue 1779, 6 July 1926, Page 5
Word Count
256POWER BOARD LOANS Waipa Post, Volume 32, Issue 1779, 6 July 1926, Page 5
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