LOANS FOR LOCAL BODIES.
PROPOSAL TO REMEDY TROUBLES. POWER TO INCREASE INTEREST. By Telegraph.—Press Association. Wellington, Last Night. T n the House to-night the Hon. W. D. Stewart moved the second reading of the Local Bodies Loans Amendment Bill, which he explained was designed to remedy difficulties now facing local bodies in the matter of finance. It was proposed to extend the time for exercising authority to borrow from two to five years, and to permit interest up to seven per cent, to be paid by local bodies on loans. Mr. T. K. Sidey (Dunedin South) said the principal concern of local bodies was to get money and so long as the Government was behind local bodies this should not b? difficult to do.
The Bill was read a second, time on the voices.
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Taranaki Daily News, 15 October 1921, Page 5
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134LOANS FOR LOCAL BODIES. Taranaki Daily News, 15 October 1921, Page 5
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