LOCAL BODY LOANS
APPLICATIONS GRANTED. (Per United Press Association.) WELLINGTON, April 28. A meeting of the Local Government Loans Board dealt, with 23 applications for loans, totalling £1,092,347. Loans amounting to £313,790 were sanctioned, including £181,190 in renewals, £84,100 new loans, and £485,000 overdrafts. The balance of the amount submitted was in tlie main referred back to the local authorities concerned for further consideration. The diversion of unexpected loan moneys totalling £2845 was also sanctioned. The board considered at length the recent legislation affecting local body linances, and the consequent establishment of a new low level of interest rates on local body securities. A statement in regard to the conversion of local body securities in terms of the legislation will shortly be issued.
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Otago Daily Times, Issue 21940, 29 April 1933, Page 9
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123LOCAL BODY LOANS Otago Daily Times, Issue 21940, 29 April 1933, Page 9
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