VALIDATING A LOAN.
WKi.I.INGTOX. May 0.
There was a Haw in the loan proposals put before the Marlborough ratepayers for the reusing of M** in the terms of the Electric own Hoards Vet. lbl-S. The loan schedule did not set forth the fact that it was proposed to provide a sinking fund ot 1 per cent. m. the l“an. Hence, tleaedi the A.M R. Society had provisionally agreed to advance the money. an Mr-lei-ili-t (ium d wa- gazetted A tU e Governor-General validating the proceedings. The Alarlhorough Fictile Power Hoard brought an originating summons before the Supreme Court at the beginning ol this month tl i-st the lend position, and yesterday Mr Jus, ice MacGregor issued a iudgment stating that all pioceeiwere in order and that the Or-der-,n-Coumil had been sufficient to validate the loan. At Die hearing Air M. K. Evans appeared for the Rower Board. Mr 1. BCooke for the A.At.R. Society, and Air A. E. Currie for the Attorne;General,
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Hokitika Guardian, 14 May 1925, Page 3
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162VALIDATING A LOAN. Hokitika Guardian, 14 May 1925, Page 3
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