POLITICAL NOTES.
LOCAL BODIES LOANS AMENDMENT. ' WELLINGTON, July 16. The Local Bodies Loans Amendment Bill, which was circulated in the House of Representatives to-day, proposes that Section 2 of the Finance Act, 1921 (relative to the variation by the Governor-General-in-Council of the terms on which local authorities or public bodies are authorised to’ borrow moneys) shall apply to loans raised for the conversion of other loans. Section 102 of the principal Act is to he amended to read as' follows: “No debentures issued under this part of this Act shall be sold' at a price that will produce to the purchaser a greater interest than 5 per centum per annum.” At present the stipulation is 41 per cent per annum.
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Hawera Star, Volume XLVIII, 18 July 1924, Page 9
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120POLITICAL NOTES. Hawera Star, Volume XLVIII, 18 July 1924, Page 9
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