HARBOUR BOARD LOAN.
CONDITIONS GAZETTED.
DISCOUNT LEFT TO BORROWER. [BY TELEGRAPH. —OWN CORRESPONDENT.]
WELLINGTON. Thursday.
The Order-in-Council relating to the rate of interest to be paid by the Auckland Harbour Board! is published in the Gazette. It provides that the rate to be paid on the authorised loan of .£1.000,000 shall be 5j per cent, without any reference to the return to the lender. The board, in other words, may decide ]p,t what discount the bonds may be sold. The wording of the Order is that the Governor-General " Doth hereby prescribe that the rate of interest that may be paid by the Auckland Harbour Board and not the return to the lender shall be 5£ .pe* centum • and the Auckland Harbour Board is hereby authorised to borrow the sum of £1.000,000 at this rate."
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Bibliographic details
New Zealand Herald, Volume LVII, Issue 17650, 10 December 1920, Page 6
Word Count
134HARBOUR BOARD LOAN. New Zealand Herald, Volume LVII, Issue 17650, 10 December 1920, Page 6
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