NAPIER BOROUGH LOANS
POSSIBILITY OF CONVERSION. ALL FROM SINGLE SOURCE. The “Tribune’’ understands there is a not altogether remote possibility of the Napier Borough Council being able to convert all the present borough loans into one loan from a single source. Some weeks ago Crs M. S. Spence and A. H. Ferguson were constituted a special sub-committee to investigate the possibility in converting the borough loans at a lower rate of interest. There now is the prospect of being able shortly to bring down a report upon the subject, since in the past few weeks they have explored a number of avenues to bring about a satisfactory settlement of this ploblem. Present indications are that the Government is contemplating legislation which will give power to local authorities to coalesce their loans into one loan from a single source. If this is effected, and the sub-committee is able to make recommendations which should result in converting the present borough indebtedness from the present small and multifarious loans into one major loan, it. is considered the borough finances w.H be placed on a much more satisfactory footing.
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https://paperspast.natlib.govt.nz/newspapers/HBTRIB19330907.2.31
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Hawke's Bay Tribune, Volume XXIII, Issue 227, 7 September 1933, Page 5
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185NAPIER BOROUGH LOANS Hawke's Bay Tribune, Volume XXIII, Issue 227, 7 September 1933, Page 5
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