LOCAL BODIES’ LOANS.
HATE OF INTEREST RAISER
The deputation from the New Plymouth Borough Council which went to Wellington lost week t waited on tho Minister of Finance in regal'd To tho question of tho rate of interest wh : ch local bodies are authorised to pay on loans for public works. This matter was brought under tho notice of the Minister on account of the fact that tho rate of of per cent, allowed was not sufficient inducement to those seeking channels for investment at the present time, and tho loans which tho borough is endeavouring to raise at tho present time for tho purpose of carrying out works authorised by the ratepayers have been hold up for that reason. As a result of the. representations made the Minister gave permission to the council to pay interest at the rate of 5J per cent, on tho £32,000 loan and the £72,000 loan. '
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https://paperspast.natlib.govt.nz/newspapers/TH19200720.2.39
Bibliographic details
Taranaki Herald, Volume LXVIII, Issue 16795, 20 July 1920, Page 3
Word Count
152LOCAL BODIES’ LOANS. Taranaki Herald, Volume LXVIII, Issue 16795, 20 July 1920, Page 3
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