LOCAL BODY LOANS

Press, Volume CIV, Issue 30739, 1 May 1965, Page 20

LOCAL BODY LOANS

£0.36m Raised In April Local bodies in Christchurch raised £259,060 in loans during April, bringing the total raised so far this year to more than £628.000. Although there is £102.720 outstanding 'in the five loans on the market, most of the local bodies anticipate little trouble in raising this. The largest amount raised last month was £156.430 by the Lyttelton Harbour Board’s second instalment loan of £250,000 in the No. 9 port development loan of £500.000. This leaves £93,570 still to be raised. The North Canterbury Hospital Board needs only £550 to fill its £210,000 redemption loan. During April the board raisbd £100,330. Most of the redemption was by cash, with very little conversion. Waimairi C.C. Two more redemption loans were opened by the Waimairi County Council during the month. One of these, the Styx works loan of £4200, has £l2OO outstanding while the other, the Harewood works loan of £5500, has £llOO left to fill. There is still £l2OO outstanding on the Fendalton redemption loan. A £40,000 loan for the road vehicle testing station at Sockburn was to have been raised jointly by the Waimairi, Paparua County Councils and Riccarton Borough Council, but this has been deferred for nine months by the Loans Board.

Further redemption loans are planned by several local bodies later this year but few plan raising fresh loans.