£500,000 LOAN
In the opinion of Mr. A. P. O'Shea, a Citizens' candidate for the Hospital Board, the board made a mistake in raising the whole of its £500,000 building loan at one time. As the board was willing to pay such a higli rate of interest it was in a position to obtain much better terms than it did, and it could have arranged to have had the receipt of the money spread overfthe time that it was required for progress payments to' the builders. He t repeated that it was difficult to understand why the Loans Board had not protected the Wellington ratepayers in that connection, for it was • precisely that type of transaction that the board was set up to prevent, and as the transaction was between the Government and a local body the Loans Board should have been all the more careful.
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https://paperspast.natlib.govt.nz/newspapers/EP19410509.2.116
Bibliographic details
Evening Post, Volume CXXXI, Issue 108, 9 May 1941, Page 9
Word Count
146£500,000 LOAN Evening Post, Volume CXXXI, Issue 108, 9 May 1941, Page 9
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