VPRS 12148 Register of Loans to Municipalities under the Municipalities Advances Acts

The Municipalities Endowment Reduction Act 1895 reduced the amount of funds that Treasury endowed municipalities in Victoria. The Municipalities Advances Act 1895 provided for the advancement of funds to municipalities by way of loans to help those municipalities account for the shortfall in revenue. The loans were required to be redeemed by annual payments from the municipalities. A subsequent amendment of the Act in 1898 made funds available by loan to municipalities to assist in repairing bushfire damage.This series consists of a register municipal loans established under the Act and its subsequent amendment. All entries provide details of the loan amount and the terms and specified repayments of the loan These entries are accompanied by a journal of ongoing repayments and outstanding balances for each municipality.