TONGARIRO PARK HOSTEL
♦ FINANCING THE PROJECT Details of the arrangements for financing the erection of a hostel at Tongariro National Park are contained in the Finance Bill. The Public Trustee is authorised to lend the Park Board up to £40,000 the principal and interest being guaranteed by the Government. The board, in turn, may lend the money or any part of it to any incorporated company to which it has given a lease of any part of the park for the purpose of erecting a hostel, the loan to be secured by a mortgage over the assets of the company, together with such collatei-al securities as the board, with the approval of the Minister of Finance, may arrange with the company. The rate of interest to be charged the company and the terms and conditions to be inserted in the mortgage are to be approved by the Minister of Finance.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19281009.2.94
Bibliographic details
Dominion, Volume 22, Issue 12, 9 October 1928, Page 11
Word Count
150TONGARIRO PARK HOSTEL Dominion, Volume 22, Issue 12, 9 October 1928, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Dominion. 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.