NAPIER BOROUGH LOAN PROPOSALS.
_ -tftflltl-" A FRESH POLL TO BE TAKEN. (Per Press Association.? NAPIER, May 19. In connection with the Napier Borough Council's loan proposals, recently approved by the ratepayers, the Council to-night received a communication from the Bank of New Zealand, stating that better terms could be obtained by issuing a single loan, but the Bank had been advised by their solicitors that loans which had been approved could not be consolidated, and that there had been certain technical errors iu advertising the proposals. It would, in the opinion of the Bank s solicitors, bo necessary to start do novo, in w.ueli ease a poll could be takeu oil a sum to cover the various proposals. The Council’s solicitors advised that the defects refered to could ho cured by an Ordci-in-Council. but that if it were desired to consolidate the loans, a fresh poll would ■be necessary. The Council decided that steps should be taken to take a fresh poll on the proposals to borrow £181.250 in one sum for the purposes, mentioned.
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Gisborne Times, Volume XXVII, Issue 2506, 20 May 1909, Page 5
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175NAPIER BOROUGH LOAN PROPOSALS. Gisborne Times, Volume XXVII, Issue 2506, 20 May 1909, Page 5
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