1510 THE NEW ZEALAND GAZETTE No. 44
NATIONAL DEVELOPMENT

YEAR ENDED RECEIPTS YEAR ENDED
31 MARCH 1977 31 MARCH 1978

  $  Securities issued maturing—                                              $           $
     Special issues—
     9½ percent 15 September 1978                                      4,700,000
     10 percent 15 September 1979                                     21,829,220
     8 percent 15 May 1980 (Post Office)                               1,000,000
     8 percent 15 May 1982 (Post Office)                               1,000,000
     5.75 percent 30 August 1982                                         9,057,580
     7.70 percent 31 August 1982                                         8,847,694
     3½ percent 15 September 1982                                     15,980,000
     10 percent 15 September 1982                                     13,550,000
     8 percent 15 May 1983 (Post Office)                               2,000,000
     5.75 percent 30 August 1983                                         9,057,580
     7.70 percent 31 August 1983                                         8,847,693
     5.75 percent 30 August 1984                                         9,057,580
     7.70 percent 31 August 1984                                         8,847,693
     8 percent 15 April 1985 (Post Office)                            75,000,000
     8 percent 15 May 1985 (Post Office)                              21,000,000
     10 percent 15 September 1987                                        1,585,000
     10 percent 15 March 1988                                           33,200,000
     Capital equipment credit arrangements—                                       244,560,040
     Various 20 September 1981                                            377,357
     Various 20 December 1981                                           1,037,022
     7½ percent 30 November 1982                                          237,194
     Various 27 November 1982                                             772,339
     Various 9 March 1983                                                 136,716
     8½ percent 31 December 1983                                        4,165,595
     5½ percent 30 November 1983                                          759,335
     Various 31 October 1984                                            1,656,427
     6½ percent 23 November 1984                                        2,267,699
     Various 31 March 1985                                                412,499
     Various 30 April 1987                                              1,168,038
     8 percent 30 September 1988..                                        617,575
     8½ percent 30 March 1989                                           18,567,020
     7 percent 15 May 1989                                              12,560,358
                                                                                   44,735,174
     1977 Deutschemark Loan DM 200,000,000—                                        87,769,342
     6½ percent 1 May 1984
     1978 Deutschemark Loan DM 250,000,000—                                       118,972,785
     5½ percent 1 March 1986
     1977 Swiss Franc Private Placement (1st Tranche) SF 100,000,000—              41,567,943
     5½ percent 20 June 1983
     1977 Swiss Franc Private Placement (2nd Tranche) SF 50,000,000—             20,906,506
     5½ percent 18 July 1983
     1977 Swiss Franc Bond Issue SF 100,000,000—                                   41,813,012
     5½ percent 18 July 1992
     1977 U.S. Bond Issue U.S.$100,000,000—                                       102,976,007
     7½ percent 15 September 1984
     1977 Japanese Yen Bond Issue Yen 27,000,000,000—                          110,742,880
     6.8 percent 14 November 1987
     1978 Swiss Franc Bond Issue SF 120,000,000—                                63,152,843
     3½ percent 6 March 1993
     1978 Swiss Franc Private Placement SF 180,000,000—                         94,729,264
     3½ percent 6 March 1983
     1978 U.S. Dollar (Special Issue) U.S. $2,600,000—                          2,535,843
     Various 31 August 1983
     1977 Cash Loan (No. 2)—
     9½ percent 15 September 1978                                       73,757,560
     10 percent 15 September 1979                                     40,062,850
     10 percent 15 September 1982                                      9,708,800
     10 percent 15 September 1987                                     11,180,240
                                                                                  134,709,450
     1978 Cash Loan (No. 1)—
     9 percent 15 March 1980                                          11,178,545
     9½ percent 15 March 1988..                                       44,972,345
     10 percent 15 March 1988..                                      119,412,360
                                                                                  175,563,250
     Inflation—adjusted savings bonds                                                6,265,290

920,422,000 1,290,999,629
22,942,380 Advance subscriptions 17,330,010
10,000,000 Transfer from Consolidated Revenue Account
Securities issued to International Monetary Fund—
13,775,523 Non-negotiable, non-interest-bearing notes 36,524,751
Securities issued to Asian Development Bank—
1,400,402 Non-negotiable, non-interest-bearing notes
Securities issued to I.B.R.D.—
Non-negotiable, non-interest-bearing notes 478,008
12,391,683 Excess of payments over receipts

$1,080,931,988 $1,345,332,398

       Balances at beginning of year—

28,235,566 Cash 22,651,304
25,431,299 Investments 18,623,878
41,275,182
Excess of receipts over payments 135,726,459

$53,666,865 Total $177,001,641