LOCAL BODY LOANS
THE RATE OF INTEREST.
It is suggested by Mr. J. A. Young (Waikato) in a question addressed to the Minister of Finance, that the Government should introduce legislation this session, which will empower local bodies which have already' taken authority to raise loans at 5£ per cent, and who are unable to socuro the money at that rate to sell their 5i per oent. debentures at a discount sufficient to realise to the purchasers a. rate of interest of not more than 5i per cent. All looal Bills now . passing through Parliament are making provision for loans to be raised at 54 per cent, per annum.
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Bibliographic details
Evening Post, Volume C, Issue 51, 28 August 1920, Page 6
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109LOCAL BODY LOANS Evening Post, Volume C, Issue 51, 28 August 1920, Page 6
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