B—l7

1950 NEW ZEALAND

LOCAL GOVERNMENT LOANS BOARD REVIEW OF OPERATIONS FOR THE YEAR ENDED 31st MARCH, 1950

Laid on the Table of the House of Representatives by Leave

To the Eight Hon. the Minister of Finance. The Local Government Loans Board presents hereunder a review of its operations for the year ended 31st March, 1950. Applications considered by the Board, while still being large in number and value, .•showed some decline from the immediate post-war years, indicating that a considerable part of the capital programmes of local bodies, necessarily deferred during the war period, has been completed or has been provided for. The summary given below sets out details of proposals considered by the Board, the figures for the previous year being included for comparison 1948-49. 1949-50. £ £ £ £ Applications .. .. .. .. 8,934,705 8,062,758 Previously referred back .. .. 1,195,593 911,717 £10,130,298 £8,974,475 Sanctioned — £ £ £ £ *New loans .. .. ..6,977,289 6,602,220 Redemptions .. .. .. 1,542,177 761,957 Referred back or declined .. .. 1,610,832 1,610,298 £10,130,298 £8,974,475 1948-49. 1949-50. *New loans — £ £ Waterworks .. .. .. 413,000 381,610 Drainage and sewerage .. .. 126,000 539,275 Roads and bridges (counties) .. .. 79,650 145,525 Street works (boroughs) .. .. 631,550 761,960 Municipal buildings, <frc. .. .. 22,750 433,950 Recreational facilities .. .. 15,650 262,875 Transport .. .. .. .. 1,353.336 160,00 C Housing .. .. .. .. 256; 100 163,695 Electricity supply—■ £ £ Power Boards .. .. ..1,441,500 1,320,850 Other supply authorities .. .. 828,100 41,860 2.269,600 1,362,710 Hospital works .. .. .. 1,263,100 1,277,050 Harbour works .. .. .. 208,000 511,000 Fire Board loans .. .. .. 18,900 109,540 Gasworks .. .. .. .. 57,500 134.500 Abattoirs .. .. .. .. 7,300 34;800 Educational authorities .. .. 117,778 6,730 Machinery .. .. .. .. 64,425 16,125 Flood damage and river works .. .. 43,275 Miscellaneous .. .. 72,650 257,600 £6,977,289 £6,602,220 Approval was given under section 47 of the Finance Act, 1929, to the diversion of unexpended balances of loans amounting to £7,363, and the use of capital moneys amounting to £16,756 was consented to under section 20 of the Finance Act, 1934.