1042
THE NEW ZEALAND GAZETTE.
[No. 29

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 Hamilton Borough Council has been
authorized to borrow the sum of five thousand pounds for
gasworks, for a term of thirty-five years, and is now desirous
of borrowing four thousand four hundred pounds, being the
balance of the five thousand pounds, for a term of ten years,
and at six and a half per centum per annum :

And whereas the Minister of Finance has given his pre-
cedent consent as required by the above-recited section
eleven, and it is desired that the term for which the said four
thousand four hundred pounds may be borrowed be amended
to ten years, and the rate of interest payable thereon be 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 term for which the said
Hamilton Borough Council may borrow the said sum of four
thousand four hundred pounds shall be ten years, and the
rate of interest payable thereon shall be a rate not exceeding
six and a half per centum per annum, and the said Hamilton
Borough Council is hereby authorized to borrow the said
sum of four thousand four hundred pounds on these terms.

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

Prescribing the Term for which the Waimairi County Council
may borrow the Sum of £5,000, being Part of a Loan of
£7,000 authorized to be raised for Electric Lighting, 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 any-
thing 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 Waimairi County Council has been autho-
rized to borrow the sum of seven thousand pounds for electric
lighting, bearing interest at five and one-half per centum per
annum, and is now desirous of borrowing five thousand
pounds, being the balance of the seven thousand pounds, for
a term of ten years, and at an increased rate of interest :

And whereas the Minister of Finance has given his pre-
cedent consent as required by the above-recited section
eleven, and it is desired that the term for which the said
five thousand pounds may be borrowed be ten years, and the
rate of interest payable thereon 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 term for which the Waimairi
County Council may borrow the said sum of five thousand
pounds shall be ten years, and the rate of interest payable
thereon shall be a rate not exceeding six and a half per centum
per annum, and the said Waimairi County Council is hereby
authorized to borrow the said sum of five thousand pounds
on these terms.

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

Prescribing the Rate of Interest that may be paid by the Pal-
merston North Borough Council in respect of a Loan of
£1,550, being the Balance of a Loan of £7,300 authorized to
be raised for purchasing Land for Municipal Buildings and
Public Library.

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 any-
thing 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 seven thousand three
hundred pounds for the purchase of land for municipal build-
ings and public library at a rate of interest not exceeding five
and a quarter per centum per annum, and is now desirous
of borrowing the sum of one thousand five hundred and fifty
pounds (being the balance of the seven thousand three hundred
pounds) at an increased rate of interest :

And whereas the Minister of Finance has given his pre-
cedent consent as required by the above-recited section
eleven, and it is desired that the rate of interest at which
the said sum of one thousand five hundred and fifty 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 loan of one thousand five hundred and fifty 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 one thousand
five hundred and fifty pounds accordingly.

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

State Guarantee of a Loan of £750,000 (being Portion of a
Loan of £1,500,000) applied for by the Southland Electric-
power Board for the Construction of Works for the Generation
and Distribution of Electric Energy.

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 the Southland Electric-power Board has,
pursuant to section seventy-four of the Local Bodies’
Loans Act, 1913, and the amendments thereof, made applica-
tion to the Minister of Finance for a State guarantee of a loan
of seven hundred and fifty thousand pounds, being a portion
of a loan of one million five hundred thousand pounds
authorized to be raised for the construction of works for the
generation and distribution of electric energy throughout
its district :

And whereas by section forty-four of the Finance Act,
1920, the provisions of Part IV of the Local Bodies’ Loans
Act, 1913, are declared to be applicable to the said proposed
loan of one million five hundred thousand pounds, and by
section seven of the Local Bodies’ Loans Amendment Act,
1921, the guarantee of any portion of the said loan is
authorized :

And whereas the Minister of Finance is satisfied that a
special rate has been made sufficient to pay the interest,
sinking fund, and other charges payable in respect of the said
loan, and that the said Southland Electric-power Board is