Manukau City Council is seeking another $100 million in a bond issue, after successfully raising $90 million in July.
The council says the bond issue has been approved by the Auckland Transition Agency, which is managing the merger of the city's councils into one entity.
The bonds are for four and six years and extend beyond November 2010, when the Auckland Council comes into existence.
The offer opened on 28 August. The minimum investment is $10,000.