officials were forced to restrict the initial maximum allocation to applicants. The offer closed on Friday.

Mayor of Hamilton the Rt. Wor. William Boyle said: "The Corporation is absolutely delighted with the response to our Bond Issue. Our intention was to provide an opportunity for the smaller investor to support the Corporation and to take advantage of the attractive interest rate being offered.

"From that point of view we were very successful, and I'm delighted with the response.

"There were just over 400 applicants with a total subscription in excess of $28 million.

"We now look forward to completing the car park and having it opened before the busy Christmas season, hopefully by late November.'' The Bermuda dollar and US dollar bonds pay eight percent annually.

Mr. Bruce Sharpe, spokesman for the Bank of Butterfield which managed the bond issue, said letters detailing the bond allocation will be mailed today when he initial maximum allocation will be announced.