LOCAL BODY LOANS
(Press Assn.-
APPLICATIONS TOTAL OVER MILLION AT BOARD MEETING
— By Telegraph — Copyright).
Wellington, Friday. A meeting of the Local Government Loans Board dealt with 23 applications for loans. totalling £1,092,347. Loans amounting to £313,790 were sanctioned, inciuding £181,190 renewals, £84,100 new loans, and £48,500 overdrafts. The balance of the amount sub" mitted was in the main referred back to the local authorities concerned for further consideration. The diversion of unexpended loan moneys totalling £2845 was also sanctioned. The board considered at length the recent legislation affecting local body finanees, and the consequent estab-lishme-nt of a new low level of interest rates on local body securities. A statement in regard to the conversion of local body securities in terms of the legislation will shortly he issued.
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Rotorua Morning Post, Volume 2, Issue 518, 29 April 1933, Page 5
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128LOCAL BODY LOANS Rotorua Morning Post, Volume 2, Issue 518, 29 April 1933, Page 5
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