LOAN COMMITMENTS

Manawatu Standard, Volume LIX, Issue 117, 18 April 1939, Page 5

LOAN COMMITMENTS

HOSPITAL BOARD. WORK AT AWAPUNI. “Though the expenditure of the Palmerston North Hospital Board last year on the repayment ot loans and sinking fund requirements was £4852, an amount of £5750 will be required this year,” reported the managingsteretary (Mr A. M . Phillipps) to the meeting of the board yesterday. "Me have,” he continued, “to provide an additional amount to cover, firstly, the supplementary loan for the administration block and the £7OOO laundry loan; and, secondly, one instalment on the proposed new loan. It is difficult to know what amount of the loan moneys on the new loan will be uplifted during the current financial year, and in any case it is unlikely that much will he uplifted before October, so there will be only one sinking fund instalment due between now and March 31 next.

“The Awapuni job is practically ready to proceed and all of the £lO,000 provided for this work should practically be uplifted during tbe current financial year. Tbe isolation hospital work will still take some time to complete, and 1 doubt if building can start before September, so that only a proportion of tbe isolation hospital amount would be required. As regards tbe additions to tbe nurses’ borne, this work has to be commenced during this year, but I would estimate that only a small portion of the loan money would be uplifted this year. The whole amount required for the morgue should be uplifted. On this basis 1 have allowed for total sinking fund instalments of £4OO being paid before March 31 next. This means that it h necessary for us to provide £5750 as sinking fund requirements to cover all loan instalments for the current financial year.”