Sec.2220/45(11)
SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date 14
No. 304
March,1950.
CONFIDENTIAL.
10
Ent
54147/3/45
(34) on '46
With reference to your despatch No.22 of the 24th
May, 1946, it will be recollected that in authorising a loan
of £30,000 to the University from Hong Kong funds, the
Treasury agreed that it should be interest free for the time
being and that the terms and conditions of repayment should
be left over for consideration until the financial position
of the University could be more accurately judged.
2.
Preliminary discussions have now taken place with
the University authorities in regard to this Loan, and they
have urged that it should continue to be on an interest
free basis. Subject to the approval of Finance Committee,
I am prepared to waive any question of interest, and I
propose to negotiate with the University for repayment over a
period of twenty years for preference, but in any case over
a period of not more than thirty years. I should be glad
to learn whether these proposed conditions of payment meet
with your approval.
رہے
CGSF:omd
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