ADVANCE LOANS
Proposal By Board
In view of present difficulties in raising loans, hospital boards should be given powers to accept monies on deposit as advance loan subscriptions, the North Canterbury Hospital Board believes. The board will submit a remit to this effect to the 1967 Hospital Boards’ Association. The City Council had legislative authority to accept advance subscriptions, but the board did not, the chairman of the board, Dr. L. C. L. Averill, said at yesterday’s meeting. It could be of help to the board. Miss M. B. Howard: There would not be much in it. Dr. Averill: For the extensive works programme planned next year, I am most anxious to leave no stone unturned in getting projects financed and under way. The chairman said the support by financial organisations and the public for hospital loans -was greatly appreciated, and he hoped it would be continued for the essential works to be done next year.
Reporting on the most recent loan of £250,000, the chairman of the finance committee, Mr H. O. Hills, said investments had reduced the amount still to be subscribed to £95,220. An investment of more than £15,000 received this week from an insurance office had been a big help in speeding progress toward filling the loan.
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Bibliographic details
Press, Volume CVI, Issue 31249, 22 December 1966, Page 9
Word Count
211ADVANCE LOANS Press, Volume CVI, Issue 31249, 22 December 1966, Page 9
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