Support for bowling club
9 December 2015
Waipa District Council will guarantee a $35,000 bank loan to help the Cambridge Bowling Club purchase an all-weather bowls carpet.
The carpet will replace the ageing and damaged astro-turf at the Thornton Road club.
The council is not contributing anything to the total cost of the new turf. But the Council's loan guarantee means the bowling club will pay a lower interest rate to the bank.
Waipa District Council has a policy that enables it to guarantee bank loans for community-based organisations providing strict conditions are met. The conditions ensure the Council is not unduly exposed to the organisation defaulting on payments and the bank calling in the loan guarantee.
Loan guarantees have previously been provided to organisations including the Cambridge Football Club, Maungatautari Ecological Island Trust and the Waipa Community Facilities Trust.
All media enquiries, contact Jeanette Tyrrell (on behalf of council) 027 507 7599