B—l7

1949 NEW ZEALAND

LOCAL GOVERNMENT LOANS BOARD REVIEW OF OPERATIONS FOR THE YEAR ENDED 31st MARCH, 1949

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, 1949. Activities of local authorities in capital programmes, which were at a high level in the two preceding years, have not abated, and again applications in excess of £10,000,000 were dealt with. The summary given below gives details of proposals considered by the Board, figures for the previous year being included for comparative purposes : 1947-48. 1948-49. £ £ £ £ Applications .. .. .. .. 8,324,579 8,934,705 Previous! y referre<! back .. .. 2,023,100 1,195,593 £10,347,079 £10,130,298 Sanctioned—- * New loans .. .. .. 0,022,034 (5,977,289 Redemptions .. .. .. 1,459,880 1,542,177 Referred back or declined ' .. 2,805,705 1,010,832 £10,347,079 £10,130,298 1947-48. 1948-49. *New loans — £ £ Waterworks .. ... .. 923,730 . 413,000 Drainage and sewerage .. .. 525,080 126,000 Roads and bridges (counties) .. .. 187,850 79,650 Street works (boroughs) .. .. 873,850 631,550 Municipal buildings, &c. .. .. 70,218 22,750 Recreational facilities .. .. 39,100 15,650 Transport .. .. .. .. 54.840 1,353,336 Housing— • £ £ Permanent .. .. .. 86,110 227,950 Transit .. .. .. 53,500 '28,150 139,610 256,100 Electricity supply— Power Boards .. .. .. 1,344,200 1,441,500 Other .. .. .. .. .. 828,100 1,344,200 2,269,600 Hospital works .. .. .. 1,499,500 1,263,100 Harbour-works .. .. .. 110,000 208,000 Fire Board loans .. .. .. 3,700 18,900 (iasworks .. .. .. .. 83,000 57,500 Abattoirs .. .. .. .. 29,060 7,300 Educational authorities .. .. 29,690 117,778 Machinery .. .. .. .. 49,650 64,425 Miscellaneous .. .. .. 42,106 72,650 Flood damage, &c, works .. .. 16,850 £6,022,034 £6,977,289 Approval was given under section 47 of the Finance Act, 1929, to the diversion of unexpended balances of loans amounting to £2,852, and the use of capital moneys amounting to £98,476 was consented to under section 20 of the Finance Act, 1934.