LOAN POWERS.

Hauraki Plains Gazette, Volume XXXV, Issue 4773, 7 November 1924, Page 2

LOAN POWERS.

O. HAURAKI PLAINS AUTHORISATION INTRODUCTION OF BILL. A Finance Bill was introduced ih*"l tlie House of Representatives on Tues- ' day night authorising the Minister for Finance, for purposes of the Hauraki Plains Act, 1908, to borrow a further amount, not exceeding £lOO,000. as he thought fit. It is further provided that there may, from time to time, without further appropriation, be paid out of the Hauraki Plains settlement account all moneys now payable, or that may hereafter become payable, by way of compensation or purchase money in respect or l.ands that have been set apart under the Hauraki Plaine Act, 1908. ■ Under the Waihou and Ohinemuri Rivers Improvement Act the Minister may borrow £150,000. . Authority to use money borrowed/ under the Railways Improvement Authorisation Act, 1914 (authorising and financing the works recommended the Hiley scheme), on the works mentioned in that Act, and on others specified in the schedule of the Bill, is contained in one of its sections, works include Paeroa railway station, and elimination of level crossings over railways. The interest to be paid on loans under that Act is set down as per cent. The Bill increases the rate to 5% per cent.