LOCAL BODIES’ LOANS

New Zealand Times, Volume XXXII, Issue 7049, 10 February 1910, Page 1

LOCAL BODIES’ LOANS

HOW APPLICATIONS SHOULD BE MADE. Tile public has awaited with a considerable amount of interest details of the .Government’s new scheme for State-guaranteed advances. An explanatory pamphlet in regard to loan operations for settlers and workers is now being prepared, and the form of application for loans to local bodies, which has been settled, is given be low. It will Le noticed that ho radical change is made in-the procedure, the application form simply containing provision for showing essential details such as tho purposes of tho loan, tho population in the area affected, total amount of ratable value, the rating system, and amount of existing liabilities upon the rates. The application form is as follows: — APPLICATION FOR PROVISIONAL APPROVAL. Name of local authority. Address. Date of application. To the Superintendent (Advances to Local Authorities Branch), New Zealand State-guaranteed Advances Office. Tho above local authority hereby applies for a loan of £ for the purposes of ——. under the Local Bodies Loans Act, 1908, and the New Zecnland State-guaranteed Advances _ Act, 19C9. on tho instalment system with a term of years. The population of the area affected by the proposed loan is . ' The total amount of ratable property in tho said area is of the value of S . The system of rating in. the said area/ is (state whether on the annual, capital or unimproved value). The amount of money already owing on tho security of rates over tho property in, the area affected is £ Tire amount of annual rates collected therefrom is £ The security offered for the proposed loan is A.B. Mayor (chairman or clerk).