APRIL 13.] THE NEW ZEALAND GAZETTE. 1041

Prescribing the Rate of Interest that may be paid by the Palmerston North Borough Council in respect of £10,000, being Portion of a Loan of £70,000 authorized to be raised for Road-improvements and Storm-water Drainage.

———

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of April, 1922.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where a local authority or public body has been authorized before the passing of the said Act, or is thereafter authorized, to borrow money, whether pursuant to a poll of ratepayers or otherwise howsoever, whether the rate of interest or the term of years of the loan was or was not specified or determined, and such money or any part thereof has not been borrowed, the local authority may, with the precedent consent of the Minister of Finance, borrow such money, or such amount thereof as has not been borrowed, at such rate of interest, or for such term not less than ten years, as may be prescribed by the Governor-General by Order in Council:

And whereas the Palmerston North Borough Council has been authorized to borrow the sum of seventy thousand pounds for road improvements and storm-water drainage at a rate not exceeding five and a quarter per centum per annum, and is now desirous of borrowing the sum of ten thousand pounds, being part of the seventy thousand pounds, at an increased rate of interest:

And whereas the Minister of Finance has given his precedent consent as required by the above-recited section eleven, and it is desired that the rate of interest at which the said sum of ten thousand pounds may be borrowed be increased to not exceeding six and a half per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby prescribe that the rate of interest that may be paid by the Palmerston North Borough Council in respect of the said ten thousand pounds shall be a rate not exceeding six and a half per centum per annum, and the said Palmerston North Borough Council is hereby authorized to borrow the said sum of ten thousand pounds accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

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Prescribing the Rate of Interest that may be paid by the Auckland Harbour Board in respect of a Loan of £100,000, being Part of a Loan of £1,000,000 authorized to be raised for certain Harbour-works.

———

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of April, 1922.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where a local authority or public body has been authorized before the passing of the said Act, or is thereafter authorized, to borrow money, whether pursuant to a poll of ratepayers or otherwise howsoever, whether the rate of interest or the term of years of the loan was or was not specified or determined, and such money or any part thereof has not been borrowed, the local authority may, with the precedent consent of the Minister of Finance, borrow such money, or such amount thereof as has not been borrowed, at such rate of interest, or for such term not less than ten years, as may be prescribed by the Governor-General by Order in Council:

And whereas the Auckland Harbour Board is empowered, under section three of the Auckland Harbour Board and Empowering Act, 1919, to borrow the sum of one million pounds at such a rate of interest as will produce to the lender a return not exceeding five and a half per centum per annum, and is now desirous of borrowing one hundred thousand pounds, being part of the said one million pounds, at an increased rate of interest:

And whereas the Minister of Finance has given his precedent consent as required by the above-recited section eleven, and it is desired that the rate of interest at which the said one hundred thousand pounds may be borrowed be altered to produce to the lender a return not exceeding six per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby prescribe that the rate of interest that may be paid by the Auckland Harbour Board shall be such rate as will not produce to the lender a return exceeding six per centum per annum, and the Auckland Harbour Board is hereby authorized to borrow the said sum of one hundred thousand pounds accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

———

Prescribing the Rate of Interest that may be paid by the Palmerston North Borough Council in respect of £14,500, being Portion of a Loan of £39,500 authorized to be raised for the Construction of Water-tables, Road-improvements, Footways, and Cycle-tracks.

———

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of April, 1922.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where a local authority or public body has been authorized before the passing of the said Act, or is thereafter authorized, to borrow money, whether pursuant to a poll of ratepayers or otherwise howsoever, whether the rate of interest or the term of years of the loan was or was not specified or determined, and such money or any part thereof has not been borrowed, the local authority may, with the precedent consent of the Minister of Finance, borrow such money, or such amount thereof as has not been borrowed, at such rate of interest, or for such term not less than ten years, as may be prescribed by the Governor-General by Order in Council:

And whereas the Palmerston North Borough Council has been authorized to borrow the sum of thirty-nine thousand five hundred pounds for the construction of water-tables, road-improvements, footways, and cycle-tracks, at a rate of interest not exceeding five and a quarter per centum per annum, and is now desirous of borrowing the sum of fourteen thousand five hundred pounds (being a portion of the thirty-nine thousand five hundred pounds) at an increased rate of interest:

And whereas the Minister of Finance has given his precedent consent as required by the above-recited section eleven, and it is desired that the rate of interest at which the said sum of fourteen thousand five hundred pounds may be borrowed be increased to not exceeding six and a half per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby prescribe that the rate of interest that may be paid by the Palmerston North Borough Council in respect of the said loan of fourteen thousand five hundred pounds shall be a rate not exceeding six and a half per centum per annum, and the said Palmerston North Borough Council is hereby authorized to borrow the said sum of fourteen thousand five hundred pounds accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

———

Prescribing the Term for which the Hamilton Borough Council may borrow the Sum of £4,400, being the Balance of a Loan of £5,000 authorized to be raised for Gasworks, and also the Rate of Interest payable thereon.

———

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of April, 1922.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where