TRANSPORT BOARD LOANS
AUTHORITY FOR .RAISING TERMS OF 1 REPAYMENT [ny TELEGUAFIl —SPECIAL REPORTER] WELLINGTON. Thursday An Order-in-Council consenting to the raising by tho Auckland Transport Boaid on the instalment repayment system of £50,000, being portion of tho Avondale tramway extension loan, 1950, of £58,400, is gazetted this evening. It is prescribed that the amount shall bo raised for a period not exceeding 20 years, and shall bo repayable by half-yearly instalments of principal' and interest of £1625 during the first 10 years, and thereafter of £2853. A similar Order-in-Council relates to tho sum of £130,000, being portion of tho Transport Development Loan, 1929, of £526,000. The annual repayments arc prescribed as £4225 during the first 10 years, and £7419 thereafter. These Orders-in-Council were made necessary owing to an error in the previous authority. In tho former Order-in-Council, tho sums to bo repaid wero authorised in a series of single payments, whereas it was necessary to have the repayments under each loan kept apart, the two loans being distinct operations.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19321021.2.107
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21319, 21 October 1932, Page 12
Word Count
170TRANSPORT BOARD LOANS New Zealand Herald, Volume LXIX, Issue 21319, 21 October 1932, Page 12
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in