B—l7

1947 NEW ZEALAND

LOCAL GOVERNMENT LOANS BOARD REVIEW OF OPERATIONS FOR THE YEAR ENDED 31st MARCH, 1947

Laid on the Table of the House of Representatives by Leave The 31st March, 1947, marked the end of the twentieth year of the Board's operations, and during that year the Board dealt with a greatly increased number of local-authority borrowing proposals. The total amount of the loans considered was £10,722,893, the largest amount dealt with during any one year of. the Board's operations. Of that amount, £9,843,543 consisted of new applications and £879,350 represented amounts previously referred back. Loans for new works totalled £7,289,436, while redemption loans to the extent of £1,006,430 were sanctioned. The balance of £2,427,027 was referred back for reconsideration or was deferred pending further investigation. The following is a summary and an analysis of the loans dealt with during the year, compared with the figures for 1945-46 : 1945-40. 1946-47. £ £ £ £ Applications .. .. ..3,497,820 9,843,543 Previously referred back .. .. 55,350 879,350 ■ £3,553,170 £10,722,893 Sanctioned— New loans.. .. .. .. 2,643,935 7,289,436 Renewal loans ... .. .. 243,235 1,006,430 Referred back .. .. .. 666,000 2,427,027 — £3,553,170 £10,722,893 New loans — Waterworks .. .. .. 94,100 155,465 Drainage and sewerage .. .. 133,525 386,120 Roads and bridges (counties) .. 43,800 42,629 Street works (boroughs) .. .. 35,850 369,050 Municipal buildings, offices, &c. .. 57,700 86,315 Recreational facilities .. .. .. 312,480 Transport .. .. .. 28,600 1,018,000 Housing — Permanent .. .. .. 50,950 341,017 Transit.. .. .. .. 177,100 147,850 ■ 228,050 488,867 Electric supply— Power Boards .. .. .. 731,000 1,011,500 Other .. .. .. .. .. 460,400 —- 731,000 1,471,900 Hospital works .. .. .. 953,750 1,502,005 Harbour works .. .. .. 135,000 1,065,000 Eire Board loans .. .. .. 27,500 39,500 Gasworks.. .. .. .. 35,000 32,000 Abattoirs.. .. .. .. 1,000 107,900 Education authorities .. .. 47,700 17,425 Machinery .. .. .. .. 54,730 Miscellaneous .. .. .. 91,360 140,050 £2,643,935 £7,289,436 The diversion of the unexpended balances of loans amounting to £17,310 was approved under section 47 of the Finance. Act, 1929, and approval was given under section 20 of the Finance Act, 1934, to the use of capital moneys amounting to £310,694. This