LOANS BOARD.
OVER £300,000 SANCTIONED.
LOCAL BODY FINANCES,
(By Telegraph.—Press Association.) WELLINGTON, Friday,
A meeting of the Local Government Loans Board to-day dealt with 23 applications for loans totalling £ 1,092,341. Loans amounting to £313,790 were sanctioned, including £181,190 renewals, £54,100 new loans, and £45,500 overdrafts. The balance of the amount submitted was in the main referred back to the local authorities concerned for further consideration.
The diversion of unexpended loan moneys totalling £2845, was also sanctioned.
The hoard considered at length the recent legislation affecting local body finances and the consequent establishment of a new low level of interest rates on local body securities. A statement in regard to the conversion of local body securities in terms of the recent legislation will shortly be issued.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 99, 29 April 1933, Page 13
Word Count
125LOANS BOARD. Auckland Star, Volume LXIV, Issue 99, 29 April 1933, Page 13
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