TAUPO TOWN BOARD

Taupo Times, Volume II, Issue 82, 12 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 Or'der 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. In pursuance and exercise of the powers vested in it in that behalf by the Loeal 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 Prineipal repayments during the first two (2) years from the date of borrowing thereof, thereafter the said loan or any part thereI of, together with Interest thereon, shall be repaid by equal aggi'egate half yearly instalments extending over the balance of the term amounting to twenty eight (28) years. No? interest after the first two (2) years1 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 one farthing of a penny (lld) in the pound (£) on the r'ateable Unimproved value of allj rateable property in the Taupo Town Board District. Pursuant to Section 3 of the Loeal 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 before the date fixed for the confirmation of the Resolution to raise the loan.

S. TOREPE.

Town Clerk.