May 23.] THE NEW ZEALAND GAZETTE. 1447

by and with the advice and consent of the Executive Council of the said Dominion, doth hereby approve of the following resolution passed by the New Plymouth Borough Council on the eighteenth day of March, one thousand nine hundred and twenty-nine, viz.:

“That the New Plymouth Borough Council, being the local authority having control of the street hereinafter mentioned, hereby resolves and declares that the provisions of section one hundred and twenty-eight, subsection one, of the Public Works Act, 1928, shall not apply to that portion of the southern side of Aubrey Street to which Sections 215 and 216, New Plymouth, have frontages ”;

subject to the condition that no building or part of a building shall at any time be erected on the land fronting the southern side of the portion of Aubrey Street (described in the Schedule hereto) within a distance of thirty-three feet from the centre-line of the said portion of street.

SCHEDULE.

The southern side of all that portion of street, situated in the Taranaki Land District, Borough of New Plymouth, known as Aubrey Street, fronting Lots 1, 2, and 3 of a proposed subdivision of Sections 215 and 216, Town of New Plymouth. As the said portion of street is more particularly delineated on the plan marked P.W.D. 75378, deposited in the office of the Minister of Public Works at Wellington, and thereon coloured red.

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

(P.W. 51/1305.)

Order in Council consenting to the Raising of Loans by certain Local Authorities.

CHARLES FERGUSSON, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 11th day of May, 1929.

Present:

THE RIGHT HONOURABLE SIR J. G. WARD, PRESIDING IN COUNCIL.

WHEREAS by section three of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”), it is provided that, notwithstanding anything to the contrary in any Act, it shall not be lawful or competent for any local authority to borrow or contract to borrow any money (otherwise than in anticipation of its revenue within the limits of its powers, if any, in that behalf), whether from the State Advances Office or from any other source whatever, and whether in pursuance of a special Act or under any authority whatever, without the precedent consent of the Governor-General in Council given after compliance with the provisions of the said Act:

And whereas section eleven of the said Act provides that the Governor-General in Council, in giving his consent to the borrowing of moneys by the local authority, may impose such conditions with respect to the time at which such moneys may be borrowed, the rate of interest that may be paid in respect thereto, the term for which they may be borrowed, and provisions for repayment thereof as he thinks fit, and that it shall not be lawful for the local authority to borrow such moneys save in accordance with the conditions so imposed:

And whereas the several local authorities mentioned in the Schedule hereto are desirous of raising the respective amounts set out opposite their names therein:

And whereas the said local authorities have complied with the provisions of the said Act, and it is expedient that the aforesaid precedent consent should be given to the raising of the loans on the terms and conditions hereinafter set forth:

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, and in pursuance and exercise of the powers and authorities conferred on him by the said Act, and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising by the respective local authorities whose names are set out in the Second Column of the said Schedule of the loans referred to in the Third Column of the said Schedule, up to the respective amounts set out in the Fourth Column of the said Schedule, for the respective terms set out in the Fifth Column of the said Schedule, at rates of interest being such as shall not produce to the lenders rates exceeding the respective rates specified in the Sixth Column of the said Schedule, subject to the condition that the respective local authorities shall, before borrowing the said respective sums or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act, 1926, or under such other statutory enactment as may be applicable in any respective case, and shall thereafter make to such sinking fund payments at intervals of not more than one year at a rate or rates which shall be not less than the respective rates per centum set out in the Seventh Column of the said Schedule, such payments to be made in respect of every part of the said respective sums for the time being so borrowed and not repaid, and the first payment to be made not later than one year after the first day from which interest to the lender is computed on any moneys so borrowed, and subject to the further condition that in no case shall any portion of interest or sinking fund be paid out of loan-moneys.

SCHEDULE.

(T. 40/416/6.)

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