NOTICES OF MOTION

1. CONFIRMATION OF PROCEEDINGS TO RAISE THE

WORKS DEVELOPMENT LOAN 1996 OF $1,000,000

The following resolution should be adopted: "The public notice required by the Local Government Act 1974 having been given in the Christchurch Press newspaper on Saturday 27 April and Thursday 9 May 1996, the following resolution passed by way of Special Order at an ordinary meeting of the Council held on Wednesday 24 April 1996 is hereby confirmed:

(a) "That in pursuance and exercise of the powers vested in it by the Local Government Act 1974, and the Local Authorities Loans Act 1956 and all amendments thereto, and all other Acts in that behalf enabling, the Christchurch City Council hereby resolves, by way of Special Order, to proceed to raise in New Zealand a loan to be known as the Works and Development Loan 1996 - $1,000,000 subject to the following determinations:

(i) The purpose of the said loan is to provide finance for the capitalisation and debt funding of the Christchurch City Roading LATE.

(ii) The amount of loan is $1,000,000.

(iii) The maximum term for which the said loan or any part thereof may be borrowed shall be 20 years.

(iv) Interest rates and maturity dates shall be determined by the Director of Finance and the Funds Manager.

(v) The loan or any part thereof, together with interest thereon, shall be repaid by any of the following methods of repayment:

(a) By equal aggregate annual or half-yearly instalments of principal and interest;

(b) By annual payments to a sinking fund in respect of this loan or any issue thereof at a rate of not less than 3.00 per cent per annum of the amount for the time being borrowed and not repaid (other than any part being repaid pursuant to subparagraph (a) of this clause).

(vi) The Council hereby appropriates and pledges a special annual recurring rate of .0061793 cents in the dollar on the capital value of all rateable property in the City of Christchurch.

(vii) No interest, instalment of principal and interest or payment to a sinking fund shall be paid outside New Zealand or out of loan money except as provided in Section 33(1) of the Local Authorities Loans Act 1956.

(viii) Commission or fees may be paid in respect of the raising of the said loan or any part thereof as the Local Authorities Loans Board may determine from time to time.

(ix) Such other determinations of the Local Authorities Loans Board as are applicable."

2. COMMENCEMENT OF PROCEEDINGS TO DECLARE

AVONSIDE DRIVE TO BE A LIMITED ACCESS ROAD

BETWEEN HANMER STREET AND LINWOOD AVENUE In accordance with a recommendation made by the Hagley/Ferrymead Community Board, to consider and if thought fit to adopt the following resolution: (a) That the Christchurch City Council, being the local authority having control of the roads in the City of Christchurch, thereby resolves by way of Special Order and pursuant to the provisions of section 346 of the Local Government Act 1974 to declare that part of Avonside Drive between Hanmer Street and Linwood Avenue to be a limited access road, as more particularly shown on Plan D4866 Sheet 2 and the accompanying schedule (attached). (b) That the Council Secretary be authorised to give public notice that the foregoing resolution will be submitted to an ordinary meeting of the Council to be held on Wednesday 26 June 1996 for confirmation by way of Special Order.

3. COMMENCEMENT OF PROCEEDINGS TO DECLARE PORTION OF DYERS ROAD TO BE A LIMITED ACCESS ROAD

In accordance with a recommendation made by the Hagley/Ferrymead Community Board, to consider and if thought fit to adopt the following resolution: (a) That the Christchurch City Council, being the local authority having control of the roads in the City of Christchurch, thereby resolves by way of Special Order and pursuant to the provisions of section 346 of the Local Government Act 1974 to declare that part of Dyers Road, South East Side-South West of Linwood Avenue to be a limited access road, as more particularly shown on Plan D7020 Sheet 2 and the accompanying schedule (attached). (b) That the Council Secretary be authorised to give public notice that the foregoing resolution will be submitted to an ordinary meeting of the Council to be held on Wednesday 26 June 1996 for confirmation by way of Special Order.

4. COMPLIANCE BY DIRECTORS WITH REQUIREMENTS OF

SECTION 145 OF COMPANIES ACT 1993

To consider the following motion, notice of which has been given by Councillor David Close pursuant to clause 2.16 of Standing Orders: "That the Council require that all Directors adhere strictly to the requirements of section 145 of the Companies Act 1993, namely:

`A director of a company who has information in his or her capacity as a director or an employee of the company, being information that would not otherwise be available to him or her, must not disclose that information to any person, or make use of or act on the information except:

(a) For the purposes of the company; or

(b) As required by law; or

(c) In accordance with sub-section 2 or sub-section 3 of the section. (These sections refer to making information available to parent companies.)'"

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