MATAMATA RIDING LOAN.
£IO,OOO FROM THE BANK. A Temporary Arrangement. A report as to l.hc progress he luul made towards raising- the money for the Matamata riding loan of £30,000 for metalling 1 was made by the clerk, Mr. H. Lewis, at Friday’s meeting* of the Matamata County Council. He said the best arrangement offering at present was the obtainingof £IO,OOO from the bank on debenture security, the amount being- raised as required. The interest would be (ii per cent-, and special permission from the Minister would have to be obtained to allow the Council to pay this rate. When money became cheaper generally, a loan could be obtained from other sources and the bank repaid. On (he motion of Cr. J. Pohlcn (Matamata riding) the clerk was instructed lo take steps to have the I £IO,OOO available for the starting of the loan work.
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https://paperspast.natlib.govt.nz/newspapers/PUP19240320.2.3
Bibliographic details
Putaruru Press, Volume II, Issue 23, 20 March 1924, Page 1
Word Count
145MATAMATA RIDING LOAN. Putaruru Press, Volume II, Issue 23, 20 March 1924, Page 1
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