asked the Minister for Local Government and Public Health if he will state the terms of any permission given to the Corporation of (a) Limerick, (b) Waterford, since the 1st September, 1939, to fund any part of their debt, and the nature of any transactions which have since then been carried out by the corporations.
Written Answers. - Funding of Corporations' Debt.
A consent Order for the creation and issue of stock by the Limerick Corporation was made by me on the 17th September, 1943. A public issue of stock by the corporation was subsequently made. The stock was issued at 99, with interest at 3½ per cent., redeemable within 29 years from the 1st December, 1943, with the option on the part of the corporation of redeeming the issue at par either in whole or in part on the 1st December, 1956. The amount of the stock issued was £755,000 and was applied to the discharge of outstanding balance of loans as at the 1st November, 1943.
As regards Waterford Corporation, a consent Order for the creation and issue of stock was made by me on the 15th April, 1943. Subsequently a public issue of stock was made by the corporation at 99, with interest at 3½ per cent. The stock was redeemable at par on the 1st May, 1972, the corporation having the option of redemption at par on the 1st May, 1956. The amount of the stock issue was £358,300 and was applied to the discharge of outstanding balances of loans at the 1st May, 1943, and to a small extent (approximately £19,000) to meeting expenditure incurred under the Housing of the Working Classes Acts.