Head 27-PUBLIC DEBT
Approved Estimate 1949-50
Estimate 1950-51
Sub-heads
$
$
$
CA
$
1 4% Conversion Loan 1933 ($4,838,000)
Interest
193,520
193,520
Sinking fund
165,521
166,911
359,041
360,431
2 31% Dollar Loan 1934 ($14,000,000)
Interest
205,800
186,200
Redemption (1/25th)
560,000
560,000
765,800
746,200
3 34% Dollar Loan 1940 ($11,790,000)
Interest
140,000
131,000
Redemption (1/25th)
472,000
472,000
612,000
603,000
4 34% Rehabilitation Loan 1947/48 ($50,000,000)
Interest
Sinking fund
1,750,000 500,000
1,750,000
500,000
2,250,000
2,250,000
|
5 Interest and redemption of further issues under Re-
habilitation Loan Ordinance 1947
1,500,000
1,125,000
Total Expenditure
5,486,841
5,084,631
EXPLANATORY NOTES.
1. 4% Conversion Loan 1933. The loan was raised in 1933 and is redeemable in 1953. Interest is payable annually on 1st February and 1st August. Contributions are made to a sinking fund at the rate of 3.45% per annum. Previous provision incorrectly assessed at an exchange rate of 1/232d. instead of 173d.
2.
3.
4.
5.
31% Dollar Loan 1934. The loan was raised in 1934 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1950 was $5,600,000.
31% Dollar Loan 1940. The loan was raised in 1940 and is redeemable by 25 annual drawings not later than 30th June. Redemption is made annually on 15th July. Interest is payable annually on 15th January and 15th July. The amount outstanding on 31st March, 1950 was $7,546,000.
31% Rehabilitation Loan 1947/48. The loan was raised in 1947/48 and is redeemable in 1973/1978. Interest is payable annually on 15th January and 15th July. Contributions are made to a sinking fund at a rate not less than 1% per annum.
Provision is made to cover possible further issues under the Rehabilitation Loan Ordinance 1947.