Page 2 Advertisements Column 2

Timaru Herald, Volume CXXIII, 10 April 1926, Page 2

SOUTH CANTERBURY ELECTRICTOWER BOARD. LOAN OVER A SPECIAL AREA. DUBLIC NOTICE IS HEREBY r GIVEN that the South Cnterbury Electric-Power Board acting in exercise and pursuance of the powers conferred on it by "The ElectricPower Boards Act, 1925,” “The Local Bodies Loans Act, 1913,” “The Local Elections and Polls Act, 1908," and the Acts amending the same respectively and of all other powers in any j wise enabling it in this behalf has j resolved that all that area in the Board’s District, comprising ALL THAT PORTION OP THE COUNTY OP WAIMATE CONTAINED THEREIN as the same is more particularly defined by Proclamation published in the New Zealand Gazette, No. 76 of 26th October, 1922, shall be a defined part of the South Canterbury Electric-Power District, and shall be designated the WAIMATE COUNTY SPECIAL AREA. AND further notice is given that the South Canterbury Electric-Power Board proposes to raise a Special Loan for expenditure on purposes authorised by the “Electri-Power Board’s Act, 1925,” for the benefit of the said Waimate County Special Area by the issue of Debentures having a currency of twenty years. (a) The particular purposes for which the Loan is required are: (1) To construct Electric-Works, and such other matters as are provided for by the Electric-Power Boards Act, 1925: (2) To exercise the powers conferred by Sections 11S, 119, and 120 of “The Electric-Power Bards Act, 1925” (Advances). (b) The sum proposed to be borrowed for each purpose is For (a) (1) as above the sum of £79,800: For (a) (2) as above the sum of £I2OO 0s Od. (c) The proposed security and provision for repayment of the Loan are (1) A Special Rate' of 3-10 of a penny in the pound (£) upon the rateable value —being the Capital Value of all rateable property in the said Special Area. Such Special Rate shall be an annually recurring rate during the currency of such Loan being a period of twenty years or until the Loan is fully paid off. (2) The establishment of a Sinking Fund to which Annual Payments shall be made of an amount being not less than one per centum of the amount of Debentures issued in respect of the said Loan: (d) It is proposed to pay out of the Loan the cost of raising the Loan aud the Interest and Sinking Fund for the first year or such longer period as is by Law allowed: AND NOTICE is further given that a Poll of the Ratepayers in the above described Waimate County Special Area will be taken on the 12th day of May, 19 26, between the hourß of 9 a.m. and 6 p.m., at the following Polling Pices: 1: Maungati Schoolhouse. 2: Motulcaike, Mr Amyes's Woolshed. 3: Cannington, Station IVoolshcd. 4: Southburn Schoolhouse. 5: Springbroolt Schoolhouse. 6: Esk Valley Schoolhouse. 7: Kohika Schoolhouse. 8: St. Andrews Public Library. 9: Makikihi Schoolhouse. 10: Hunter Schoolhouse 11: Hook Schoolhouse. 12: Hannaton Schoolhouse. 13: Willowbridge Schoolhouse. 14: Morven Schoolhouse. 15: Gleuavy Schoolhouse. 16: Redcliff Schoolhouse. 17: Kapua Schoolhouse. 18: Waihao Downs Schoolhouse. 19: Waimate County Council Office. Dated at Timaru this 10th day of April, 1926. JOHN KENNEDY, Chairman. C. DASH, Returning Officer: • South Canterbury ElectricPower Board.