LOCAL BODIES LOANS.
The regulations under the New Zealand State Guaranteed Advances Act are now gazetted. It is provided that the term of loans is to be for 36§ years at 3| per cent. The interest and principal on every loan are to be payable in half-yearly instalments. When the board has provisionally approved of any loan the local authority may make application to the board for a grant of the loan in accordance with the terms and conditions set out in the notice of the provisional application. No application for a loan shall be made until the local authority has taken all the necessary steps under the Local Bodies Loans Act, 1808, or otherwise for obtaining sufficient authority to raise the loan and has duly made the special rate required as security. Every application for a loan ahall be taken into consideration by the board which shall either grant or refuse the application.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/KCC19100330.2.13
Bibliographic details
Ngā taipitopito pukapuka
King Country Chronicle, Volume IV, Issue 246, 30 March 1910, Page 3
Word count
Tapeke kupu
154LOCAL BODIES LOANS. King Country Chronicle, Volume IV, Issue 246, 30 March 1910, Page 3
Using this item
Te whakamahi i tēnei tūemi
Waitomo Investments is the copyright owner for the King Country Chronicle. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Waitomo Investments. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in