TRANSPORT LOAN
SPECIAL RATE LEVIED At its meeting this morning the Auckland Transport Board took authority under the Local Bodies Loans Act, 1926, to levy a special rate of 9-16th of a penny -in the £ to meet interest and other charges on a loan of £1,853,000 authorised to be raised for repaying to the City Council the loan indebtedness of the council in respect of the tram and bus undertaking. The rate will be an annual recurring rate during the currency of the loan until December 1, 1960. The board also resolved that for the purpose of levying the rate the capital value system shall be adopted. This is to effect uniformity because, as now constituted, the various local authorities in the board’s area are not rating under the one system.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19290430.2.45
Bibliographic details
Sun (Auckland), Volume III, Issue 650, 30 April 1929, Page 9
Word Count
131TRANSPORT LOAN Sun (Auckland), Volume III, Issue 650, 30 April 1929, Page 9
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