£50,000 WATER LOAN SIGNIFICANT

Taupo Times, Volume VI, Issue 287, 8 August 1957, Page 1

£50,000 WATER LOAN SIGNIFICANT

WITHIN three weeks slightly more than half the money songht by the Taupo Bo rough Councirs £50,000 water loan tlotation has been subscribed, and there are still three more weeks before applications close oii Friday, August 30. This loan is the seeond issue of stoek and debentures to finance the water reticulation project in the borough which ultimately will cost in the iieighbourhood of £130,000, and bring comfort and eonvenience to both permanent residents and holidaymakers. Tlie lending terms are six, 10 and 15 years. So far applications liave been reeeived for £26,000 worth of stoek or debentures. Oue was for £12,000, another for £5,000, two for £2,000, and the balanee for smaller amounts. The niinimuin which may be subscribed is £100. All carry five per cent. interest. If local residents able to do so will make. investments in this latest loan, they will demonstrate their faith in the future of the district and at the same time help to accelerate ihe advaneement of Taupo, which in the past two years has aston ished evcu the more optimistic of our city fathers. There is a strong body of local opinion thal it would be the ideal situation if there were a j preponderance of local sub- j scribers to the loan. It is a truisrn that the nian or woman with a stake in the countrv, takes a more than passing interest not only in the investment rnade, but in the way the local authority has spent the money, and in the broader interests which accompany the workings of local government. Ilenee, though the financing of the reticulation project seems j to be assured, it would be a souree of satisfaction if a consiclerable pprtion of the money eaiiie from. local sources.