APRIL 2.]

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 rate-payers 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Te Puke Town Board has been authorized to borrow the sum of two hundred and sixty pounds for the purchase of a bitumen-sprayer:

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 money may be borrowed be not exceeding six per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the power and authority vested in him as aforesaid, and 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 Te Puke Town Board in respect of the said loan of two hundred and sixty pounds shall be a rate not exceeding six per centum per annum, and the said Te Puke Town Board is hereby authorized to borrow the said sum of two hundred and sixty pounds accordingly.

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

Prescribing the Rate of Interest that may be paid by the Eastbourne Borough Council in respect of a Loan of £1,000, authorized to be raised for the Purpose of recouping the District Fund to an Amount not exceeding £500 in respect of Expenditure thereout for providing Protective Works against Erosion by the Sea, and in providing Further such Protective Works.

CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 23rd day of March, 1925.
Present:

THE HONOURABLE SIR FRANCIS BELL PRESIDING IN COUNCIL.
WHEREAS by section eleven of the Finance Act, 1921, and its amendments, it is provided 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 rate-payers 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Eastbourne Borough Council has been authorized to borrow the sum of one thousand pounds for the purpose of recouping the District Fund to an amount not exceeding five hundred pounds in respect of expenditure thereout for providing protective works against erosion by the sea and in providing further such protective works:

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 money may be borrowed be not exceeding six per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the power and authority vested in him as aforesaid, and 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 Eastbourne Borough Council in respect of the said loan of one thousand pounds shall be a rate not exceeding six per centum per annum, and the said Eastbourne Borough Council is hereby authorized to borrow the said sum of one thousand pounds accordingly.

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

985

Prescribing the Rate of Interest that may be paid by the Rotorua Borough Council in respect of a Loan of £7,500, authorized to be raised for the Purchase of Land and the Errection of an Abattoir.

CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 23rd day of March, 1925.
Present:

THE HONOURABLE SIR FRANCIS BELL PRESIDING IN COUNCIL.
WHEREAS by section eleven of the Finance Act, 1921, and its amendments, it is provided 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 rate-payers 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Rotorua Borough Council has been authorized to borrow the sum of seven thousand five hundred pounds for the purchase of land and the erection of an abattoir:

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 money may be borrowed be not exceeding five and three-quarters per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the power and authority vested in him as aforesaid, and 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 Rotorua Borough Council in respect of the said loan of seven thousand five hundred pounds shall be a rate not exceeding five and three-quarters per centum per annum, and the said Rotorua Borough Council is hereby authorized to borrow the said sum of seven thousand five hundred pounds accordingly.

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

Prescribing the Rate of Interest that may be paid by the Eastbourne Borough Council in respect of a Loan of £10,000, authorized to be raised for the Purpose of completing the Purchase of a Ferry Steamer, and completing the Re-conditioning of the Ferry Steamers already the Property of the Borough.

CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington this 23rd day of March, 1925.
Present:

THE HONOURABLE SIR FRANCIS BELL PRESIDING IN COUNCIL.
WHEREAS by section eleven of the Finance Act, 1921, and its amendments, it is provided 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 rate-payers 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Eastbourne Borough Council has been authorized to borrow the sum of ten thousand pounds for the purpose of completing the purchase of a ferry steamer and completing the reconditioning of the ferry steamers already the property of the borough:

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 money may be borrowed be not exceeding six per centum per annum: