TAUPO TOWN BOARD

Taupo Times, Volume II, Issue 81, 5 August 1953, Page 8

TAUPO TOWN BOARD

HYDRO-ELECTRIC POWER SUPPLY Further Additional Loan, 1953, £37,500 Notice is hereby given that at a Special Meeting of the Taupo Town Board held on Wednesday, 15th day of July, 1953, the following resolution was passed by way of Special Order and that such Special Order will be confirmed at a meeting of the Board to be held in the Board Room, Wharf Road at 7.30 p.m. on Wednesday the 19th day of August, 1953. I In pursuance and exercise of the I powers vested in it in that behalf by the Local Bodies Loans Act 1926, the Taupo Town Board hereby resolves by way of Special Order, to raise a further additional loan of Thirty Seven thousand, five hundred pounds (£37,500) for the purpose of completing the Board^s Hydro-electric Power Supply Scheme, such loan to be for a period of thirty (30) years. The said loan or any part thereof, shall be free of Principal repayments during the first two (2) years from the date of borrowing thereof, thereafter the said loan or any part thereof, together with Interest thereon, shall be repaid by equal aggr'egate half yearly instalments extending over the balance of the term amounting to twenty eight (28) years. No interest after the first two (2) years and no such instalments shall be paid out of the loan moneys. Such loan to be secured by a Special Rate, not exceeding one pence and oue farthing of a penny (llcl) in the pound (£) on the Tateable Unimproved value of all rateable property in the Taupo Town Board District. Pursuant to 'Section 3 of the Local Bodies Loans Amendment Act 1951, notice is hereby given that a poll of ratepayers is required to be Taken if (5) per centum of the ratepayers of the district so demand by writing under their hands, delivered or sent by post to the Taupo Town Board be~ fore the date fixed for the confirma- ' tion of the Resolution to raise the : loan. (

S.

TOREPE, ,

Town Clerk. (