LOCAL BODY LOANS

Press, Volume XCVIII, Issue 28832, 28 February 1959, Page 14

LOCAL BODY LOANS

£52,000 Raised In February Although loan monies raised by local bodies in the Christchurch and North Canterbury area this month showed a big increase on the January figures, the total of £52,000 was well below the February, 1958, figure of £122.920. The Christchurch Drainage Board’s two-months’ £175,000 issue—which officially closed at the end of January—was almost filled by late subscriptions in February. More than £24,000 came in this month, leaving only £3020 outstanding on this loan. An old loan of the drainage board’s has been "revived"—the Sewage Advances Loan, 1955, of which £12,700 was outstanding. Authority to vary the terms of the loan has been obtained by the board, and £5OOO was raised during the month on this new authority. The Christchurch Transport Board raised a further £10,900 towards its £225,000 development and improvement loan this month. More than £150,000 remains to be raised. Details of subscriptions to local body loans in Christchurch and North Canterbury in February, with the amount outstanding In each case, are as follows:

' Amount Transport Board Waimairi C.C. Hospital Board Kowal C.C. Riccarton B.C. Drainage Board N.C.E.P.B. Raised Outst’g. , £ £ . 10,900 152,500 . 8,100 14.500 . 2,700 15,070 . — 7,320 . — 7,050 . 29,540 5,720 . 800 2,100 Totals .. 52,040 204,260