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Press, 2 February 1981, Page 31

Public Notices HURUNUICOUNTY COUNCIL RURAL HOUSING LOAN No. 2 1980 $59,000 NOTICE OF PROPOSED SPECIAL ORDER NOTICE is hereby given that at an Ordinary Meeting of the Hurunui County Council held at the Council Chambers, Amberley, on Monday, January 26, 1981, the following resolution was passed and will be submitted for confirmation as a Special Order at ah Ordinary Meeting of the Council to be held at the Council Chambers, Amberley, at 9.15 a.m. on Monday, February 23, 1981. . RESOLUTION That in pursuance and exercise of the powers vested in it by the Local Government Act ’ 1974, the Local Authorities Loans Act 1957, the Rural Housing Act 1939 and all amendments- thereto, and all other acts and powers enabling it in that belialf and by virtue of and in accordance with the conditions of the sanction of the Local Authorities Loans Board, granted at a meeting of the Board held on December 9, 1980, the Council resolves to proceed to raise in New Zealand a loan to be known as the Rural Housing Loan No. 2 1980 for the sum of Fifty Thousand Dollars (50,000) for the purpose of making advances to farmers in terms of the Rural Housing Act 1939, subject to th* following conditions: 1 The term for which the said loan or any part thereof may be borrowed shall not exceed 30 years; J The rate of interest that may be paid in respect of the said loan or so much thereof as is for the time being raised and not. repaid, shall be eight and a half per cent per annum payable half yearly, the first such payment to be made not later than six months after the date of the payment of the first instalment of the loan by the Corporation to the said Council, such interest to be computed on the daily debtor balances in the accounts of the Corporation; 3 The Council shall pay to the Corporation each halfyear in reduction of the principal moneys advanced by the Corporation to the Council an amount equal to the sum of all the amounts of principal which are expressed to be payable to the Council during that half-year under the agreements entered into by the said Council with the various farmers to whom the said Council has ad vanced any of the loan moneys, together with any additional principal which may be paid by such farmers; 4 No amount payable by the Council in respect of principal or Interest owing to the Corporation shall be paid out of loan moneys; 5 No amount shall be payable for brokerage, underwriting or placement fees in respect of the raising of the said loan or any part thereof. 6 Such other conditions that may be stipulated by the Mortgage Loans Committee of the Housing Corporation of New Zealand. It is hereby publicly notified that a poll of ratepayers is required to be taken if 15 per cent of the ratepayers of the County of Hurunui so .demand by writing under their hands delivered or sent bypost to the undersigned not later than 9 a.m. on the date fixed for the confirmation of the foregoing resolution. NOTE: The repayment of the above loan is not intended to be a charge on County rates but will be secured by the first mortgage over the properties on which advances are made. Copies of the proposed Special Order are deposited at the Council Offices, Amberley and Waikari, and are available for inspection by the public during normal office hours. Dated at Amberley this 28th day of January, 1981. A. J. McKendry, COUNTY CLERK AMI6