Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


LGFA’S great start good news for ratepayers, says LGNZ

MEDIA RELEASE

LGFA’S great start good news for ratepayers, says LGNZ

16 FEBRUARY 2012

Local Government New Zealand (LGNZ) says the success of yesterday’s Local Government Funding Agency’s (LGFA) bonds issue is good news for many ratepayers.

“The 18 councils that own 80 percent of the Agency will be able to borrow money at cheaper rates, which means there will be less pressure on council rates,” said LGNZ President, Lawrence Yule.

The LGFA bonds issued yesterday had an overbid rate of 4.4 – $1.32 billion was bid on $300 million worth of bonds.

“This huge financial buy in to the future of local government is a vote of confidence in our sector, “Mr Yule said.

“Also, the positive response from investors highlights how local government plays a pivotal role in supporting the Government’s economic growth agenda.”

The LGFA, which came into being on 1 December, is also 20 per cent owned by the Government and the cheaper financing is possible because, among other reasons, offshore borrowing for use by councils has been allowed for the first time.


ENDS


Notes to editors

1. The LGFA’s primary purpose is to provide more efficient funding costs and diversified funding sources (including foreign currency) for New Zealand local authorities

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Two Years With New Methods: Crime Stats Show Increase Led By Burglary

The two years of data show an increase in the total victimisation rate of 3.1 per cent, with 12,060 more victimisations in the 2015/16 year when compared to 2014/15 year. From this increase, 72 per cent is attributable to burglaries. More>>

ALSO:

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news