The Council is prepared to receive deposits in local currency for fixed periods of six or twelve months and to allow interest thereon at the rate of 5 per cent. and 6 per cent. per annum respectively.
Deposits will be refunded in local currency at date of maturity and in the event of a public issue of Municipal debentures being made depositors whose accounts cover a period of twelve months will be entitled to participate in an allotment of such debentures and to apply their €eposits and accrued interest in payment thereof.
Depositors in the Municipal Investment Bank may at their option transfer their balances to a Fixed Deposit basis on the terms outlined above.
Further information may be obtained from the Treasurer and Controller, Aaministration Bulding, Künpe oad.
By Order, G. GODFREY PHILLIPS, Secretary
Text read from the printed page and cleaned; old type leaves the occasional error.