LOCAL BODIES' LOANS.
- JOINT SCHEME SUGGESTED. The Matamata County Council has resolved to forward the following remit to the Counties' Conference; "That local bodies pool their loan requirements, and raise a combined loan on the London market at a reduced rate of interest, say 4J per cent." The best terms the council can get at present for a loan of £10,000 for metalling the Tokoroa-Putaruru Road is 5. per cent, which is considered too high. The State Advances Office will lend only £5000 each year to each local body, at 5i per cent. It is urged that if the Department will not take steps to obtain the cheap money offering in London for the full requirements of local bodies, the counties should act themselves in a joint scheme.
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Auckland Star, Volume LIV, Issue 123, 25 May 1923, Page 7
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128LOCAL BODIES' LOANS. Auckland Star, Volume LIV, Issue 123, 25 May 1923, Page 7
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