Local Authority Borrowing: Past, Present and Future [Paperback]

Local Authority Borrowing (1985) sets out the history of local authorities activities as borrowers. The early attempts to finance the building of toll roads and bridges are the beginning of a story which carries on through the centuries to the present-day market in local authority bonds worth over ?48 billion. The book moves on from the history to discuss what reforms might be implemented to improve still further the efficiency of the market in the future.

Part 1. Preliminary Considerations? 1. Local Government Areas in England and Wales  A Note on their Origins and Development? Part 2. Historical Survey.? First Period: 15301830: The First Local Government Services and the Emergence of Borrowing.? 2. Roads and Bridges? 3. Turnpike Trusts and Navigations  the First Statutory Borrowing Provisions? 4. The Coming of the Poor Law? 5. Borrowing in the Boroughs and Major Parishes? 6. Borrowing in the Counties.? Second Period: 18301930: The Evolution of Structured Local Government and of the Associated Borrowing Codes.? 7. The Opening Phase? 8. The Accretion of Services and their Associated Borrowing Facilities? 9. The Local Loans Act 1875? 10. The Democratization of Local Government? 11. The Turn of the Century.? Third Period: 19301984: Consolidation, Evolution and Dissolution.? 12. The Local Government Act 1933? 13. The Short-Term Revolution? 14. The Further Reorganization? Part 3. Borrowing Instruments and Associated Techniques: An Historical Analysis? 15. Mortgages and Related Instruments? 16. Annuities, Debentures and Tontines? 17. Stock? 18. Temporary (Deposit) Loan Receipts? 19. Money Bills and Promissory Notes? 20. Bonds? 21. The Public Works Loan Commissioners? 22. Miscellaneous Sources of Capital Finance? 23. Management and Amortization of Debt? Part 4. Analysis and Conclusions? 24. Basic Principleslí