BUCKLEY DRAINAGE BOARD.

Shannon News, 19 June 1928, Page 2

BUCKLEY DRAINAGE BOARD.

£IOOO LOAN PROPOSAL.

At a special meeting of the Buckley Drainage Board held at Shannon yesterday morning, the following resolutions were carried: —

(1) Prposed by Trustee Law, seconded Trustee Speirs, "That the , Board proposed at its meeting to be held on the 2nd July, 1928, to consider a motion to apply to the Local Government Loans Board for its sanction to the borrowing of the sum of £IOOO for the purpose of banking the Koputaroa stream and thereby preventing or mitigating flooding from the said stream, in order to provide, relief work for the unemployed. Any person having any objection to the proposed application is called upon to submit the same in writing to the Buckley Drainage Board, Shannon, not later than the day preceding the said meeting." (2) Proposed by Trustee Speirs seconded Trustee. "That in accordance with the powers conferred on the Board by sub-section 2 of section 2 of the "Local Authorities Empowering (relief of unemployment) Act, 1926, and its amendments, the Buckley Drainage Board raise on loan the sum of £IOOO at a rate of interest not exceeding 6 per cent, with a sinking fund of not less than 3 per cent for a term not exceeding 25 years, the Public Trustee to be" the sinking fund Commissioner, for the purpose of finding work for the unemployed and to prevent or mitigate flooding from the Koputaroa stream. It is proposed to confirm such resolution at a meeting of the Board to be held on Monday, 2nd July, 1928, at i 0.30 a.m.