BOROUGH LOAN PROPOSALS

Gisborne Times, Volume XXVIII, Issue 2765, 21 March 1910, Page 4

BOROUGH LOAN PROPOSALS

PTcnrmXE LOANS FOR DRAINAGE ) KhsStVOiß MIOVISIOS- ‘* ' ally approved.

In consequent® of a telegraphic message from Wellington stating that theAdvances Hoard had met a,,, grant* several loans under the .State Guara i teed Advances Act, the Mayor (Mr. U . D Lysnar) on Saturday morning telegraphed to Wellington to ascertain the result of the Gisborne Borough s appli_ cation for a loan of £170,0G0. He received a reply on Saturday afternoon that the drainage loan (£60,000) and. k£a (£11.000) hadL been provisionally approved by the Board, subject to tlie. schemes being .approved by the Department’s engineers. >f . “There -is no question ujJ, said the Mayor to a “Times” reporter, “about the approval of the schemes, ©■-•pccialJv the drainage scheme, which has in reality already been approved by the Engineer-]n-Cluef and c.k* M. ea R ’ Officer ” Mr Lvsnar added that in all probability Dr. Bell’- report on the reservoir scheme had not yet been officially considered by the Department. The Prime Minister, interviewed m Wellington on Fridav, stated that the rate of interest on tlw loans would be 31 ix . r cynt. Although no official intimation has been received on the subject it is considered probable that the sinking fund will be an additional 1 per cent.

NAPIER DRAINAGE APPROVED

fPiR Press Association.! NAPIER, March 20

Th<- Mavor has received tlie following telegram from the Prime Minister with regard t-o the Nanier Borough Council s: application under the State Guaranteed Advances Act: —“Board provisionally approved £35.000 for drainage. The other applications from cannot be entertained at present with the numerous applications for roads, bridges drainage, and water from various parte: of ter country. It is not possible to e’it(’"tevv; -/■.■"trie tramways and such classes of loans just now.-J. G. Ward.”

H \STINGS DRAINAGE AND WATER SUPPLY LOAN GRANTED.

The Hastings Borough Council have been advised bv the Government that their loan for sewerage and water sup nlv has been granted subject to the usual conditions.