MONEY DIVERTED
HOSPITAL BOARD LOAN
The loan of £465,000 raised by the Wellington Hospital Board for the erection of a Centenary B'oek is diverted for other purposes by a clause in the Local Legislation Bill, which made its appearance in the House of Representatives yesterday afternoon. At the present time the loan money is on fixed deposit for a period up to two years, and the Local Legislation Act of 1939 authorised the board to make a temporary diversion for certain purposes. The board now wishes to divert portion of the loan money for making additions to the eye ward, establishing, a tuberculosis hospital at Paekakariki, and erection and equipment of emergency buildings at Lower Hutt. The diversion will result in a' considerable saving to the board by way of interest payments in raising further loan money.
Another clause validates the lease by the Wellington City Council of the Exhibition Hotel to the Wellington Hospital Board for use as a nurses' home. •
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https://paperspast.natlib.govt.nz/newspapers/EP19410927.2.82
Bibliographic details
Evening Post, Volume CXXXII, Issue 77, 27 September 1941, Page 10
Word Count
162MONEY DIVERTED Evening Post, Volume CXXXII, Issue 77, 27 September 1941, Page 10
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