CONFIDENTIAL
機密
For discussion
on 1st March 1977
XCC(77)11
Copy No...
MEMORANDUM FOR EXECUTIVE COUNCIL
REVIEW OF FINANCIAL ARRANGEMENTS BETWEEN THE GOVERNMENT AND THE
HOUSING AUTHORITY
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pitä
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4KK 360/1
On 7th December 1978, after considering memorandum XCC(76)
A
85 (Annex A), the Council advised and the Governor ordered:
2
"that consideration of this memorandum should be deferred. A further memorandum should be prepared on how the full extent of the Government's contribution to the Housing Authority could be shown explicitly, for example in the Estimates or in the Housing Authority's accounts.
It
For ease of reference, in addition to suggesting how Govern- ment's contribution to the Housing Authority can be shown explicitly, this memorandum summarises the information and proposals contained in the previous memorandum, that still apply.
Existing Financial Arrangements
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In brief the present financial arrangements are as follows:
(a) the following indebtedness was inherited at 1st April
1973 by the new Authority:
(i)
(ii)
the Resettlement and Government Low Cost Housing estates, which were vested in the new Authority; and
the outstanding interest bearing loans to the old Housing Authority from the Development Loan Fund ($250 million);
(b) additional indebtedness has been incurred by the Authority since 1st April 1973 in respect of:
(i)
(ii)
further interest bearing loans from the Develop- ment Loan Fund to finance new estates ($50 million); and
the value of new public housing estates financed
through the Public Works Programme which on completion are handed over to the Authority;
C.S. 166
CONFIDENTIAL
機密