CO129-623-3 Supplementary Expenditure- general correspondence on the allocation of funds and an annual report for the... 1-3-1950 - 30-9-1950 — Page 101

APPENDIX VIII

STATEMENT OF PUBLIC DEBT AND SINKING FUNDS AS AT THE 31ST MARCH, 1949.

Designation of Loan.

Legal Authority.

Sinking Funds

Amount Outstanding.

at market value on 31.3.49.

Cts.

Hongkong 4% Conversion Loan,

Ordinance No. 15 of 1933.

4,838,000

3,528,824.00

1933.

Hongkong 3% Dollar Loan,

1934.

Ordinance No. 11 of 1934.

6,160,000

Hongkong 3% Dollar Loan,

1940.

Ordinance No. 11 of 1934.

8,018,000

REMARKS

Raised in 1933; redeemable 1953.

Contributions to the Sinking Fund are made annually at the rate of 3.45% per annum. Interest is payable on the 1st February and 1st August each

year,

Repayment annually at the rate of 1/25th of the total face value of $14,000,000 of the bonds issued.

The total amount raised was $11,790,000 which is redeemable annually at the rate of 1/25th of the total.

4,041,646.53

The Ordinance provides for the raising of $150 million of which $50 million has so far been raised. The loan is repayable not earlier than 1973 and not later than 1978. Provision is made for contributions to a Sinking Fund at not less than 1% p.a. Interest is payable on the 15th January and 15th July.

Hongkong 3% Rehabilitation

Loan, 1947/48.

Ordinance No. 48 of 1947.

50,000,000

512,822.53

THE TREASURY,

Hong Kong, 19th September, 1949.

TOTALS:

69,016,000

Examined:

P. H. JENNINGS,

Director of Audit.

25th January, 1950.

H. R. HIRST,

Accountant General,

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MA