Good Month For Local Body Loans

Press, Volume CVI, Issue 31206, 2 November 1966, Page 21

Good Month For Local Body Loans

The North Canterbury Hospital Board yesterday opened its £250,000 No. 17, 1966 cash loan.

The purpose of the loan is to continue the board’s progressive building programme for the provision of complete hospital services for the people of North Canterbury.

A new accident and emergency department will be built at the Christchurch Hospital, and the radiotherapy department will be extended for the installation of a linear accelerator. The terms of the loan are from two to 20 years. For two to five years the interest will be 4J per cent for six to nine years 5 J per cent, and for 10 to 20 years 5} per cent. The Paparua County Council raised £6500 in October for its £44,000 high pressure water supply extension loan, leaving £1270 outstanding. Its £20,000 rural township dedevelopment loan was filled. The Lyttelton Harbour Board sold £25,050 of the second stage of its £250,000 port development loan. Only £125,100 now needs to be taken up. The Central Canterbury Electric Power Board, filled its Banks Peninsula loan, and its No 17 reticulation loan. The Christchurch City Council’s Burnside Memorial highway loan was filled. A spokesman for the board said that the board would go on the market again on December 1, when a £440,000 electricity extension loan would be opened. Prospectus of the loan would be issued

in the next few days, he said. The Heathcote County Council raised £lO,OOO for its electricity works loan and £lO,OOO for its works loan. It still needs £1750 for the electricity works loan, £7700 for the works loan, and £29,340 for the waterworks loan.