Estimates-1965 — Page 253

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PART III — EXPLANATORY NOTES ON APPENDICES I — IV

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APPENDIX I — SALARY CONVERSION TABLE

This Appendix contains the salary conversion table referred to in paragraph 8 of the Notes on Presentation of Salaries, etc. on page 3.

APPENDICES II AND III · DEVELOPMENT LOAN FUND

Appendix II

This Appendix comprises a financial statement of approved loans and projects, including estimated issues and repayments during 1964-65.

Under housing loans, the Housing Authority's revolving fund allocation was increased by $50,000,000 during 1963-64 and now stands at $230,000,000.

A review of the working of the Local Government Officers Co-operative Schemes has been carried out and certain revised proposals were approved during 1963-64. The allocation was at the same time increased to $184,000,000, mainly to cover schemes which had been held up pending the review. It is expected that 172 schemes comprising 3,463 flats will have been completed by 31st March, 1964 and a further 14 schemes (244 flats) by 31st March, 1965. Loans for schemes for which sites were earmarked after 12th August, 1960, bear interest at 5% per annum.

The loan of $10,000,000 to the Hong Kong Settlers Corporation is designed to enable the Corporation to rehouse its tenants who were previously living in cottage areas which have had to be cleared for development, and to provide low cost housing generally.

Educational loans are granted to incorporated non-profit making bodies for the construction of schools or extension to schools. The general rule is that the loan plus any Government capital subsidy should not exceed 80% of the total cost of a project. These loans are granted either interest-free and re- payable over 11 years, or bear interest at 31% and are repayable over 21 years.

Fisheries loans are intended for owners of suitable mid and distant waters fishing junks for the purpose of mechanization or improvement of existing vessels, for the construction or purchase of new vessels, and for the purchase and installation of navigational and fishing aids.

Appendix III

This Appendix comprises a statement of the estimated financial position of the Fund and a summary of estimated receipts and payments for 1963-64 and 1964-65.

APPENDIX IV — PUBLIC WORKS PROGRAMME

The Appendix to the Report of the Public Works Sub-Committee of Finance Committee is re- produced at Appendix IV with the addition of items subsequently approved. The layout of the programme shows substantial changes from previous years; explanatory notes on the programme as now presented are at the front of the Appendix.