LOW INTEREST RATE.
LOAN FOR CHRISTCHURCH. CITY COUNCIL ROADING. . (By Telegraph.—Press Association.) CHRISTCHURCH, Wednesday. The City Council has experienced 110 difficulty in raising its supplementary roading'loan of £22,000 at the low rate of interest of 4 per cent, which is a quarter per cent lower than the conversion rate for local body loans. The loan could have been raised two or three times over. The rate of interest on local body loans has been limited by the Government to 4J per cent, but a local body in the class of the City Council is able to secure money 011 better terms than some of the smaller borrowing authorities.
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Bibliographic details
Auckland Star, Volume LXV, Issue 69, 22 March 1934, Page 15
Word Count
108LOW INTEREST RATE. Auckland Star, Volume LXV, Issue 69, 22 March 1934, Page 15
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