Hukarere and Te Aute Colleges can look forward to a more secure future.
New funding through the St John’s College Trust Board has enabled the Te Aute Trust Board to repay $9.2 million of debt to the Bank of New Zealand.
Te Aute’s chair, Stephen Jacobi, said repayment of the debt, incurred on the Trust’s farming operations, would remove the severe interest burden on the colleges.
“The repayment means the Te Aute trustees again have full control over the Trust’s assets,” he added.
“Acting on the clear mandate given to us by Te Runanganui o Te Pihopatanga, as the governing body for tikanga Maori in the church, we can now strengthen the special character of these schools as unambiguously Anglican and unambiguously Maori”. Continue reading