CITY COUNCIL LOANS
The chairman of the City Council’s Finance Committee, Mr W. B. Taverner, supplies the following information regarding the recent resolution confirming the electricity power loan of £723,500 at a maximum interest rate of £3 5s per cent. Cr Taverner draws attention to the fact that the rate of £3 5s is the maximum rate approved by the Loans Board, and is not necessarily the rate at which the loan will be issued. He states that this loan issue will not be available to investors for some time, probably not until 1950-51. The 20-year term loans issues at present being raised at £3 2s 6d per cent, are for various amounts to complete this year’s loan transactions, that is, prior to March 31.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19490311.2.109
Bibliographic details
Otago Daily Times, Issue 27027, 11 March 1949, Page 7
Word Count
125CITY COUNCIL LOANS Otago Daily Times, Issue 27027, 11 March 1949, Page 7
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. 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 Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.