BRIDGE LOANS.
THE REPAYMENT SCALE. • \ (Special to Herald.) * WELLINGTON, this day. This week, as already telegraphed, the State Guaranteed Advances Department published a new scale of repayments enabling . local bodies, if . they choose, to repay loans m 21 years. The Department has power to arrange repayment of a term up to fifty years, though the. usual, scale, resuits m the extinguishment of the principal m 36£ ! years. The latest development is m the interests of local authorities, which borrow on account, of public works like wooden bridges-, wjhich mighi depreciate quicker than the principal can be re^ paid. The Grey County Council pointed this out to the Department, and the new scale was drafted to meet positions. It may be of interest- lo add that local bodies . m. New- Zealand have borrowed about sixteen millions sterling outside the Department, and that their interest payments, - .ranging from 4 to 6 per cent., do not diminish the principal, which goes oil for ever. _a— ana— mmmmiii.i ' - >
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Bibliographic details
Poverty Bay Herald, Volume XXXIX, Issue 12752, 2 May 1912, Page 2
Word Count
164BRIDGE LOANS. Poverty Bay Herald, Volume XXXIX, Issue 12752, 2 May 1912, Page 2
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