POWER BOARD LOAN
AUCKLAND ISSUE OF £290,000 (By Telegraph.—Press Association) AUCKLAND, Saturday A prospectus will be issued by the Auckland Electric Power Board next week in respect of a loan of £290,000 for a term of 20 years, bearing interest at 4i per cent with a sinking fund of 3$ per cent, to be invested with the District Public Trustee. Authority has already been oblained for the loan, which is the balance of a £673,000 loan authorised in 1928. The full amount was not required then, and in recent years the board has been unable to sell its debentures at t)ie interest rate fixed by the Government, 3$ peF cent. With the rate now increased to 4£ per cent the chairman of the board, Mr S. J. Harbutt, considers that the loan will be a most attractive investment. No trouble is expected in raising all the money required.
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Waikato Times, Volume 124, Issue 20822, 5 June 1939, Page 13
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148POWER BOARD LOAN Waikato Times, Volume 124, Issue 20822, 5 June 1939, Page 13
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