1286
THE NEW ZEALAND GAZETTE.
[No. 30

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 Matamata Town Board in respect of the said loan of one thousand pounds shall be a rate not exceeding six per centum per annum, and the said Matamata Town Board is hereby authorized to borrow the said sum of one thousand pounds accordingly.

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

Prescribing the Rate of Interest that may be paid by the Papatoetoe Town Board in respect of a Loan of £1,500 authorized to be raised for the Purchase of Recreation and Park Areas.

CHARLES FERGUSSON, Governor-General.
By his Deputy,
CHARLES PERRIN SKERRETT.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 6th day of May, 1926.
Present:
THE RIGHT HONOURABLE J. G. COATES, P.C., 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 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Papatoetoe Town Board has been authorized to borrow the sum of four thousand five hundred pounds for the purchase of recreation and park areas:

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 Papatoetoe Town Board in respect of the said loan of four thousand five hundred pounds shall be a rate not exceeding six per centum per annum, and the said Papatoetoe Town Board is hereby authorized to borrow the said sum of four thousand five hundred pounds accordingly.

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

Prescribing the Rate of Interest that may be paid by the Papatoetoe Town Board in respect of a Loan of £6,000 authorized to be raised for Road-improvements.

CHARLES FERGUSSON, Governor-General.
By his Deputy,
CHARLES PERRIN SKERRETT.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 6th day of May, 1926.
Present:
THE RIGHT HONOURABLE J. G. COATES, P.C., 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 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, as may be prescribed by the Governor-General by Order in Council:

And whereas the Papatoetoe Town Board has been authorized to borrow the sum of six thousand pounds for road-improvements:

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 Papatoetoe Town Board in respect of the said loan of six thousand pounds shall be a rate not exceeding six per centum per annum, and the said Papatoetoe Town Board is hereby authorized to borrow the said sum of six thousand pounds accordingly.

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

Prescribing the Term for and the Rate of Interest at which the Napier High School Board may borrow the Sum of £6,750 for the Purpose of building a School and Hostel in connection with the Napier Boys’ High School.

CHARLES FERGUSSON, Governor-General.
By his Deputy,
CHARLES PERRIN SKERRETT.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 6th day of May, 1926.
Present:
THE RIGHT HONOURABLE J. G. COATES, P.C., PRESIDING IN COUNCIL.

WHEREAS by the Napier High School Act, 1882, the property of the Napier Boys’ High School is vested in a Board of Governors known by the name of the Napier High School Board:

And whereas by section ten of the Education Reserves Act, 1908, it is provided that the persons in whom for the time being is vested the real property of any high school shall be thereinafter in the said Act called “the Trustees”:

And whereas by section seventeen of the Education Reserves Act, 1908, and its amendments it is provided that the Trustees of any high school may from time to time, with the sanction of the Governor, borrow money on the security of the rents and profits of the lands vested in them, or of any part hereof, but that no money shall be borrowed as aforesaid at a higher rate of interest than five and a half per centum per annum:

And 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 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 part 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 Minister of Finance has given his precedent consent as required by the above-recited section eleven:

And whereas it is desired that the sum of six thousand seven hundred and fifty pounds shall be borrowed by the issue of debentures and the giving of debenture-trust deeds constituting the Public Trustee trustee for the debenture-holders for a term of fifteen years, on the security of the rents and profits from lands granted by or on behalf of His Majesty and vested in the Napier High School Board, interest on the said sum of six thousand seven hundred and fifty pounds to be payable at the rate of five pounds fifteen shillings per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of