LOAN MONEY IN DUNEDIN
No Difficulty For Local Bodies (New Zealand Press Association) DUNEDIN. May 5. While many North Island local authorities are struggling to raise their loan requirements on the public market, their Dunedin counterparts are in the enviable position of doing so without any great difficulty. The Dunedin City Corporation has been the largest borrower on the local loan market for many years. From 1950 to 1953, it borrowed at a rate of about £1,000.000 a year, but since then the rate has dropped to about £500,000 a year. “The city has never had much difficulty in filling its loans,” said the Town Clerk (Mr J. C. Lucas). Another big borrower in the last few years has been the Otago Hospital Board, which, since April 1, 1952. has raised £1,546,400 — most of it for the construction of the new Wakari Hospital.
Even the smaller local authorities about Dunedin have had little difficulty in filling their loans. For instance, the Mosgiel Borough. Council has found that the money 1 wanted for a £15.000 water reti-| culation loan, and a £93.500, sewerage loan has come forward i as required.
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Press, Volume XCV, Issue 28269, 6 May 1957, Page 3
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189LOAN MONEY IN DUNEDIN Press, Volume XCV, Issue 28269, 6 May 1957, Page 3
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