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Independent Schools (Loans Guarantee) Act - Statement of guarantees and payments - Year - 1976-77


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4 Γΐϊ

The Parliament of the Commonwealth of Australia

INDEPENDENT SCHOOLS (LOANS GUARANTEE) ACT

Statement for Year 1976-77

P resented p u rsu a n t to sta tu te 4 A p r il 1978 O rdered to be p rin ted 13 A p r il 1978

Parliamentary Paper No. 167/1978

Department of Education

Independent Schools (Loans Guarantee) Act 1969

Statement by Senator the Hon. J. L. Garrick, Minister for Education, o f the payments made in 1976-77 pursuant to section 8 of the Act

AUSTRALIAN GOVERNMENT PUBLISHING SERVICE CANBERRA 1978

Statement of the payments made in 1976-77 in respect of all guarantees given under this Act, presented to Parliament by the Minister for Education pursuant to section 8 of the Independent Schools (Loans Guarantee) A ct 1969.

Printed by Ambassador Press Pty. Ltd., 51 Good Street, Granville 2142

IN D E PE N D E N T SC H O O LS (LOANS GUARANTEE) ACT 1969 REPORT 1976-77

The Commonwealth Government provides capital assistance to non government schools in the Australian Capital Territory and in the Northern Territory under a Capital Aid

Scheme which provides for:

(a) repayment of loans raised by independent school authorities for approved projects by equal annual instalments over a period of ten years; and

(b) interest reimbursements on the balance of the approved loan up to the long term bond rate current when the amount of capital aid is approved for the project.

These two forms of assistance for capital purposes did not help the independent school authorities to overcome entirely difficulties and delays in obtaining loans for approved building projects at reasonable rates of interest. Consequently the Independent Schools (Loans Guarantee) A c t 1969 was

enacted to provide the Government with the authority to offer formal guarantees in respect of certain loans made to school authorities of non-government schools for approved capital

expenditure in the Australian Capital Terri­ tory and the Northern Territory.

The Capital Aid Scheme backed by the Loans Guarantee legislation has enabled non­ government school authorities in both Terri­ tories to provide new schools and extensions to existing schools to complement govern­

ment schools in meeting the rapid growth of the school-age population.

During the 1976-77 financial year three new loan guarantees were given under the Act for a new Catholic high school in Wanniassa, the new AME School in Weston and for a Library Annexe at Our Lady of the Sacred Heart Primary School at Alice Springs.

The number of guarantees given since the introduction of the Act has risen to thirty-one.

Requests for financial assistance for non­ government school buildings in the Australian Capital Territory and the Northern Territory received after 1 July 1974 come within the

purview of the Schools Commission. How­ ever, payments for which guarantees under the Independent Schools (Loans Guarantee) A c t 1969 were given will continue for up to

ten years until the Government’s obligations under the various loan guarantees have been fulfilled.

The payments made during 1976-77 in respect of thirty-one of the guarantees already given totalled $1 830 937.76 of which $1 222 009.67 was for capital repayment and

$608 928.09 was interest reimbursement.

Details of the payments made during 1976­ 77 in respect of guarantees given under the Act are contained in the attached statement.

1

INDEPENDENT SCHOOLS (LOANS GUARANTEE) ACT 1969

PAYMENTS MADE FROM 1 JULY 1976 TO 30 JUNE 1977 IN RESPECT _______________________ _______ OF GUARANTEES EXECUTED UNDER THE ACT________________________________

Capital Interest

Lending and School Authority — Summary o f Approved Projects Repayment Reimbursement Total

1 Australian Capital Territory

(a) Roman Catholic Secondary Schools (including Colleges) The Superannuation Fund Investment Trust The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn

Catholic Girls High School, Braddon — Stage I Extensions (3.05)

Bank of New South Wales Savings Bank Limited The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Catholic Girls High School, Braddon — Stage II Extensions (3.06)

The Superannuation Fund Investment Trust The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Catholic Girls High School, Braddon — Extensions (3.08)

The Commonwealth Savings Bank of Australia The Trustees of the Marist Brothers Marist Brothers College, Pearce — Secondary School, Stages II and III (6.03)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Francis Xavier’s High School, Florey — New High School (33.01)

$

43 000.00

36 837.50

30 000.00

87 036.50

281 234.44

$ $

10 320.00 53 320.00

10 314.50 47 152.00

9 900.00 39 900.00

33 289.47 120 325.97

202 689.55 483 923.99

The Superannuation Fund Investment Trust The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Padua Catholic High School, Wanniassa — New High School (35.01)

(b) Roman Catholic Primary Schools The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Holy Rosary Primary School, Watson — Extensions (9.04)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Holy Trinity Primary School, Curtin — Extensions (10.02)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Sacred Heart Primary School, Pearce — New School (11.01)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Benedict’s Primary School, Narrabundah — Extensions (13.04)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St John Vianney Primary School, Waramanga — New School (15.01)

$

50 000.00

13 413.80

6 737.72

49 105.79

8 348.47

65 306.00

$ $

15 564.58 65 564.58

4 890.55 18 304.35

2 425.58 9 163.30

10 312.21 59 418.00

3 214.16 11 562.63

20 571.39 85 877.39

82 188.90

CBC Savings Bank Limited The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn Sts Peter and Paul Primary School, Garran — Transportable

Classrooms (1.04) 2 746.03

*· The National Bank Savings Bank Limited The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Thomas More’s Primary School, Campbell —

Ground Works (21.03) 2 249.73

The Superannuation Fund Investment Trust The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Vincent de Paul’s Primary School, Aranda — New School (22.01) 52 574.84

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Jude’s Primary School, Holder — New School (31.01) . 84 500.82

1 103.90 3 849.93

866.14 3 155.87

11 040.71 63 615.55

68 383.50 152 884.32

Lending and School Authority — Summary o f Approved Projects Capital Repayment Interest

Reimbursement Total

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Thomas Aquinas Primary School, Charnwood — New School (32.01)

The Commonwealth Savings Bank of Australia The Trustees of the Roman Catholic Church for the Archdiocese of Canberra and Goulburn St Matthew’s Primary School, Page —

Transportable Classrooms (1.06)

(c) Church o f England Girls Grammar School The Superannuation Fund Investment Trust The Church of England Property Trust for the Diocese of Canberra and Goulburn

Canberra Church of England Girls Grammar School, Deakin — New Primary School (23.01)

Defence Forces Retirement Benefits Board (a) The Church of England Property Trust for the Diocese of Canberra and Goulburn Canberra Church of England Girls Grammar School, Deakin —

Extensions (23.11)

(d) Canberra Grammar School The Superannuation Fund Investment Trust The Church of England Property Trust for the Diocese of Canberra and Goulburn

Canberra Grammar School, Red Hill — Construction of Craft Centre (2.11)

$

64 000.00

4 584.92

56 875.00

33 000.00

15 000.00

$ $

63 850.54 127 850.54

3 233.16 7 818.08

15 925.00 72 800.00

12 160.50 45 160.50

4 050.00 19 050.00

Lending and School Authority — Summary o f Approved Projects Capital Repayment Interest

Reimbursement Total

$

The Commonwealth Savings Bank of Australia The Church of England Property Trust for the Diocese of Canberra and Goulburn Canberra Grammar School, Red Hill — Extensions to Junior

School (2.03) 23 015.30

The Superannuation Fund Investment Trust The Church of England Property Trust for the Diocese of Canberra and Goulburn Canberra Grammar School, Red Hill — Miscellaneous Projects (2.09) 15 000.00

The Superannuation Fund Investment Trust The Church of England Property Trust for the Diocese of Canberra and Goulburn Canberra Grammar School, Red Hill — Combined Assembly Hall

and Gymnasium (2.13) 10 000.00

Bank of New South Wales Savings Bank Limited The Church of England Property Trust for the Diocese of Canberra •and Goulburn Canberra Grammar School, Red Hill — New History Block (2.14) 29 229.32

(e) Seventh Day Adventist School, Mawson Bank of New South Wales Savings Bank Limited The Australian Conference Association Limited Seventh Day Adventist Primary School, Mawson —

New School (8.01) 10 920.35

(f) A M E School, Weston NRMA Insurance Limited AME Incorporated AME School, Weston — New School (37.01) —

$ $

7 249.82 30 265.12

5 250.00 20 250.00

3 900.00 13 900.00

21 980.13 51 209.45

4 204.33 15 124.68

5 403.33 5 403.33

Capital Interest

Repayment Reimbursement

$ $

5 341.26

Total

42 604.90 16 402.89 59 007.79

18 215.80 7 013.08 25 228.88

23 971.37 8 389.98 32 361.35

5 341.26

(R77/529) Cat. No. 77 6896 3