LOAN RENEWALS
Arrangements by Committee The finance committee's report before the Lower Hutt Borough Council last night stated that tlie short-dated portion of the £26,000 loan, which amounted to £lO.OOO, matured in April, 1931, the £16.000 portion having a further five years to run. Arrangements are being made by the committee for a renewal of the shortdated portion for a period of five years, which will make both portions of the loan mature in 1936. “I am hopeful,” said the Mayor. Sir Alexander Roberts, “that by the time this £lO,OOO maturese. we shall have £3OOO in the sinking fund, which is going to be used iu reduction of the amount owing. I hope, therefore, to ask for the renewal of £7OOO only. The sinking fund has been accruing for five years. The net profits on land sold have also been apnlied to the sinking fund. There will be no difficulty with the renewal, for I know there are larjje institutions open to receive applications from local bodies.” Councillor F. Campbell: That is a hopeful sign, anyhow.
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Dominion, Volume 24, Issue 52, 25 November 1930, Page 6
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176LOAN RENEWALS Dominion, Volume 24, Issue 52, 25 November 1930, Page 6
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