years, at a rate of interest not exceeding five and a half per
centum per annum, and now proposes to borrow the sum of
eight thousand pounds (being part of the twenty-five thousand
pounds) for a term of twenty years and at a rate of interest
not exceeding six 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 eight
thousand pounds may be borrowed be reduced to twenty
years, and the rate of interest payable thereon be increased
to 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,
both hereby prescribe that the term for which the Te Awa-
mutu Electric-power Board may borrow the said sum of
eight thousand pounds shall be twenty years, and the rate of
interest payable thereon shall be not exceeding six per centum
per annum, and the said Te Awamutu Electric-power Board
is hereby authorized to borrow the said sum of eight thousand
pounds on these terms.
F. D. THOMSON,
Clerk of the Executive Council.
Prescribing the Term for which the Eltham Borough Council
may raise a Loan of £400 for completing the Municipal Gas-
works, and also the Rate of Interest payable thereon.
JELLICOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
July, 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 how-
soever, 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 Eltham Borough Council has been autho-
rized to borrow the sum of four thousand pounds, for carrying
out works in connection with the municipal gasworks, for a
term of thirty-six and a half years, and at five and a quarter
per centum per annum interest, and is now desirous of borrow-
ing a supplementary loan of four hundred pounds under the
authority of section eighteen of the Local Bodies' Loans Act,
1913, for a reduced term, 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
four hundred pounds may be borrowed be reduced to ten
years, and the rate of interest payable thereon be increased
to 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,
both hereby prescribe that the term for which the Eltham
Borough Council may borrow the said sum of four hundred
pounds be reduced to ten years, and the rate of interest
payable thereon be increased to a rate not exceeding six per
centum per annum, and the said Eltham Borough Council
is hereby authorized to borrow the said sum of four hundred
pounds accordingly.
F. D. THOMSON,
Clerk of the Executive Council.
Prescribing the Rate of Interest that may be paid by the
Whangarei Borough Council in respect of a Loan of £12,000
authorized to be raised for paying off its Antecedent Liability.
JELLICOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
July, 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 Whangarei Borough Council has been
authorized to borrow the sum of twelve thousand pounds
for paying off its antecedent liability, and is now desirous of
borrowing the money 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 twelve thousand pounds may be borrowed be increased
to 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,
both hereby prescribe that the rate of interest that may be
paid by the Whangarei Borough Council in respect of the said
twelve thousand pounds shall be a rate not exceeding six
per centum per annum, and the said Whangarei Borough
Council is hereby authorized to borrow the said sum of twelve
thousand pounds accordingly.
F. D. THOMSON,
Clerk of the Executive Council.
Prescribing the Term for which the Palmerston North Borough
Council may borrow the sum of £62,000, being Part of a
Loan of £70,000 authorized to be raised for the Laying-down
of Roadways in Tarred Macadam or other Process, and the
Purchase of Plant and Equipment if necessary, and the
Extension of the Storm-water Drainage, and also the Rate of
Interest payable thereon.
JELLICOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
July, 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 seventy thousand
pounds for laying down roadways in tarred macadam or
other process, the purchase of plant and equipment if neces-
sary, and extensions to the storm-water drainage, for a term
of thirty-six and a half years, at five and a quarter per
centum per annum, and is now desirous of borrowing sixty-
two thousand pounds, being part of the seventy thousand
pounds, for a reduced term and 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 term for which the said sixty-two thou-
sand pounds may be borrowed be reduced to ten years, and
the rate of interest payable thereon be increased to 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,
both hereby prescribe that the term for which the Palmerston
North Borough Council may borrow the said sum of sixty-
two thousand pounds shall be ten years, and the rate of
interest that may be paid thereon shall be a rate not exceed-
ing six per centum per annum, and the said Palmerston
North Borough Council is hereby authorized to borrow the
said sum of sixty-two thousand pounds accordingly.
F. D. THOMSON,
Clerk of the Executive Council.