Present: The Mayor (Mr B R Gardener) and Crs Hall, Hudson, Mackenzie, Palmer, Prouse J, Prouse R, and Ryder.
The business of the Meeting which was duly summoned and constituted was to make a Special Order authorising the raising of a Loan for the purchase of certain property as a gravel reserve or reserves.
The following resolution was then carried unanimously:
Special order to be made
SPECIAL ORDER “That this Council do now make a special order to the following effect – That this Council hereby proposed to raise (1) A Loan of £375 for a period of 10 years with interest and sinking fund payable thereon at 5 per cent per annum for the purchase of the undermentioned property as a gravel reserve – viz: pt.sec 67 LVS containing 10 acres with buildings and improvements thereon the owner being G.C.A. Lainge, and further to make an annually recurring Special Rate of 1/12d. in the £ of the Capital Value of the Rateable property in the said Borough of Levin as security for the interest and sinking fund in connection with the said loan, and (2) further to raise a loan of £375 for a period of 15 years with interest and sinking fund payable thereon at 5 per cent per annum for the purchase of the undermentioned property as a gravel reserve – viz: Pt.sec.26 Block I Waiopehu SD containing 3 acres 1r 28pch. with buildings and improvements thereon, present owner A Corson and further to make an annually recurring special rate of 1/12d. (one twelfth of a penny) in the £ on the capital value of the rateable property in the said Borough of Levin as security for the interest and sinking fund in connection with the said Loan.”
Confirmed
Basil Gardener
Nov 19th 1906