Manukau City to launch large scale bond offer

Manukau City Council is set to launch a sizeable bond offer prior to the establishment of the new Auckland council in November.The new series will follow the $190 million the council raised last year, with all the proceeds going to the other councils in the Auckland region when the super city comes in to effect.Under the Reorganisation Act, Manukau City Council had to seek approval from the Auckland Transition Agency (ATA) before raising any funds that extend beyond July 2011.

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