LOANS FOR LOCAL BODIES
AN IMPORTANT INNOVATION
(Hy Telegraph — Press Association.) WELLINGTON, Last Night. • In his report to Parliament the Publie Trustee sets out an important innovation in the Public Trust Office, which will be of considerable interest to local bodies desiring to borrow money from the Public Trust Office, in order to save the local bodies expense. Whenever a local body applies to the Public Trust Office for a loan under the Local Bodies Loans Act, the solicitor to the Public Trust Office will direct and supervise all proceedings, and draft all resolutions, debentures, coupons, sinking fund, deeds and other documents required, and will instruct as to the carrying out of the loan, and finallycertify when all proceedings are completed. The fee for this will be 2s 6d per £IOO on the amount of loan, and the local body will thus bo in a position to know from the outset, what cost of, raising it will be. The only other expense in addition to this would be the cost of advertising and the cost of printing.
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https://paperspast.natlib.govt.nz/newspapers/WAG19120906.2.21.17
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Wairarapa Age, Volume XXXII, Issue 10713, 6 September 1912, Page 5
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177LOANS FOR LOCAL BODIES Wairarapa Age, Volume XXXII, Issue 10713, 6 September 1912, Page 5
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