TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 198

GR 343

IMMEDIATE

CYPHER CAT A

FM BTC HONG KONG 170925Z

UNCLASSIFIED

COMMERCIAL IN CONFIDENCE

HKK 173/1.

1 MAY 1978

07 OFFICE! INDEX

No

TO IMMEDIATE E C G D TELNO EXCED 18 OF 17 MAY 1978.

FOR P N CHASE, E C G D SOLICITORS.

s

FOLLOWING MESSAGE IS RELAYED ON BEHALF OF MESSRS LO AND LO.

BEGINS

MTR SOLICITOR HAS CONTACTED US ON THE FOLLOWING MATTERS :

1. MTR WISHES TO OBTAIN YOUR APPROVAL OF THE FOLLOWING DRAFT RESOLUTION BY TOMORROW MAY 18 SO THAT RESOLUTION CAN BE PUT ON

AGENDAN AND PASSED AT LEGISLATIVE COUNCIL MEETING ON MAY 24 AS

OTHERWISE IT WILL BE DELAYED TILL NEXT MEETING ON JUNE 7 :

RESOLUTION OF THE LEGISLATIVE COUNCIL

RESOLUTION MADE AND PASSED BY THE LEGISLATIVE COUNCIL

UNDER S.12(1) OF THE MASS TRANSIT RAILWAY CORPORATION

ORDINANCE THAT THE FINANCIAL SECRETARY ON BEHALF OF THE

GOVERNMENT MAY GRANT A GUARANTEE IN RESPECT OF THE

REPAYMENT OF LOANS MADE TO AND THE DISCHARGE OF THE

INDEBTEDNESS OF THE MASS TRANSIT RAILWAY CORPORATION UNDER

THE FACILITIES SPECIFIED IN THE SCHEDULE HERETO UP TO THE

AMOUNTS SPECIFIED IN RESPECT THEREOF.

1. A LOAN ARRANGED BY

LAZARD BROTHERS

AND CO LTD AND

PROVIDED BY

SCHRODERS AND

CHARTERED AS AGENT

TO FINANCE CONTRACTS

PLACED IN THE UK.

204 MILLION DOLLARS

AND SUCH AMOUNTS

AS MAY BECOME

PAYABLE IN RESPECT

OF INTEREST.

WE DO NOT KNOW WHETHER AMOUNTS SPECIFIED ARE CORRECT. OTHERWISE THE RESOLUTION APPEARS SATISFACTORY,

34

2. IF WE ARE