LOCAL BODIES' NEEDS

Wairarapa Age, Volume XXXII, Issue 9998, 19 March 1910, Page 5

LOCAL BODIES' NEEDS

THE NEW SYSTEM. A LARGE SUM GRANTED. By Telegraph—Press Association. WELLINGTON. March 18. In an interview with a "New Zealand Times" representative this evening, the Prime Minister, Sir Joseph Ward, said that the State Guaranteed Advances Board had met during' the day. Sir Joseph Ward presided, and the whole of the members, Messrs Poynton, Warburton, Salmond, Kember and Dr. Pitchett, were present, A large number of loans for local public bodies for various purposes were provisionally approved to the extent of £612,000. The preference was given to local bodies applying for moneys for roads, bridges, sewerage, drainage and water purposss, and those local bodies meeting backblock requirements were first considered, where the securities were right the application in each case were granted. Sir Joseph also stated that the whole of the loans were granted at 3| per cent, interest with a sinking fund as provided under the Act, the Prime Minister mentioned that some idea of the value of the new system to the local public bodies might be gauged from the fact that the amounts authorised at to-day's board meeting totalled more than three times the whole amount granted during any one year under the old system of the loans to Local Public Bodie? Act. The loans authoiised ranged from £3OO to £60,000. These amounts, when expended by the various local bodies in their centres will mean the provision of many necessary works, and will add to tha comfort and convenience of the people different portions of the Dominion. The local bodies dealt with covered the whole of the Dominion frum the North of Auckland to the Wallace district in the far Sout. The! various public bodies will be advised to morrow of the result of their applications.