LOCAL BODY LOANS
RAISING AND CONVERSION. BIG VOLUME DEALT WITH. :■ [Per Press Association. — Copyright J WELLINGTON, This Day. At a meeting of the Local Government Loans Board, 13 applications for sanction to raise loans totalling £214,316 were dealt with. Loans amounting to £194,845 were sanctioned, including £132,940 in renewals, and £61,905 for new work. The balance, namely, £19,471, was partly referred back to the local, bodies concerned for further consideration and partly declined. The progress of local body debt conversion was also continued pursuant to the Local Authorities Interest Reduction and Loan Conversion Act, 1932 and 1933. and amendments. Applications from 12 local authorities were dealt with. Existing securities-, totalling £419,092 were affected, and after utilising sinking funds and adding premiums where appropriate, sanction to conversion into new securities to a total of £409.408 was given.
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https://paperspast.natlib.govt.nz/newspapers/NA19350628.2.5
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Northern Advocate, 28 June 1935, Page 2
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136LOCAL BODY LOANS Northern Advocate, 28 June 1935, Page 2
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