AIRPORT PURCHASE
SANCTION FOR LOAN BOROUGH COUNCIL DECISION At a meeting of the Hamilton Borough Council last night advice was received from the Local Government Loans Board that sanction had been given for the raising of a loan of £12,500 for the purchase of land, etc., for an aerodrome. The term of the loan was for a period not to exceed 30 years at a rate of 4 per cent, with a sinking fund of £1 18s 9d per cent. On the motion of the Mayor, Mr H. D. Caro, it was decided to proceed with the loan for the purpose of purchasing the Rukuhia airport. The loan would be secured by a special rate of l-10th of a penny in the £. The Mayor stated that it was hoped that the purchase money would be
paid over within two months. A committee comprising the Mayor and Messrs H. M. Hammond. F. C. House, C. Lafferty, and T. G. Reynolds was appointed to deal with correspondence on the matter from other contributing local bodies.
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Waikato Times, Volume 127, Issue 21210, 5 September 1940, Page 9
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173AIRPORT PURCHASE Waikato Times, Volume 127, Issue 21210, 5 September 1940, Page 9
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