£250,000 LOAN
HOSPITAL BOARD PROPOSAL
A decision to apply to the Local Government Loans Board for a loan . £ ? 50 > 000 to complete the new hospital block at the Auckland Infirmary, and additional accommodation and equipment at the Auckland Hospital, was made by the Hospital Board last night. The proposal passed was to apply for a loan having a currency of 25 years, and Interest not exceeding 4 per cent payable half-yearly. Alternative proposals for repayment, to be "put before the Loans Board, are payment of £5000 principal plus due interest half-yearly or yearly, or by setting aside a sinking fund invested to pay off the loan within the loan period of 25 years. The form of security for repayment of the loan and interest is to be debentures to the value of £250,000 and relative coupons. Tri£ Waitemata County Council advised having passed a resolution that the council would lodge an objection with the Loans Board against the loan on the ground that the ratepayers of the contributory local authorities were already overburdened with hospital board taxation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19420825.2.81
Bibliographic details
Auckland Star, Volume LXXIII, Issue 200, 25 August 1942, Page 5
Word Count
177£250,000 LOAN Auckland Star, Volume LXXIII, Issue 200, 25 August 1942, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.