LOCAL BODIES’ LOANS.
WELLINGTON, January 6. Local bodies who claim that they cannot obtain money at the 5i per cent, rate previously authorised must put applications to increase the rate before the Government, which deals with them on their merits. Where loans are maturing, and the local body must find the money for the repayment of or arrange terms for the renewal of the loan, the Government is granting permission *o take the steps necessary to obtain the required sums. In new loans there must bo urgency attaching to the works to be undertaken. W here this is shown, or where the local body is committed to purchase machinery, etc., the Government is viewing the applications favourably.
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Bibliographic details
Otago Witness, Issue 3487, 11 January 1921, Page 36
Word Count
117LOCAL BODIES’ LOANS. Otago Witness, Issue 3487, 11 January 1921, Page 36
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