STATE ADVANCES.

Taranaki Daily News, Volume LV, Issue 276, 14 April 1913, Page 6

STATE ADVANCES.

NEW REGULATIONS GAZETTED. New regulations under the State Guaranteed Advances Act are published in the current "Gazette." They make it clear that henceforth any local body obtaining a loan must pay for it at the rate of interest at which the money was actually raised by the Government, plus one-eighth per cent. Of the regulations under the State Advances Act gazetted in 1911, November [5 and 8, dealing respectively with proVisional approval and with procedure subsequent to provisional approval, arc revoked, and new regulations are provided in order to introduce new schedules, application forms, etc. The tables for half-yearly advances appended to the regulations gazetted in 1!)I1 relate to the— Loans for 30% years; interest, &y s per cent. Loans for 3G>/, years; interest 3% per cent. Additional tables appended to the new regulations refer to:— " Loan for 42 1 /> years; interest 4% per cent. Loans for 3C 1 / S years; interest 4% per cent. The scheduled application and other forms to lie used in connection with loan transactions contain the following new proviso;— "The rate of interest to be one-eighth per centum Vr annum more than the rate at which the monev was raised."