1936
THE NEW ZEALAND GAZETTE.
[No. 53

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.

Order in Council consenting to the Raising of a Loan by the Great Barrier Island County Council, and prescribing Term and Rate of Interest.

CHARLES FERGUSSON, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 29th day of July, 1929.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Great Barrier Island County Council (hereinafter called “the said local authority”) is desirous of raising the sum of five hundred pounds by a loan to be known as “Wharf Construction Loan, 1927,” for the purpose of contributing its proportion towards the cost of constructing a wharf at Shoal Bay, Tryphena:

And whereas the said local authority has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”), and it is expedient that the precedent consent of the Governor-General in Council under the said Act should be given to the raising of the said loan on the terms and conditions hereinafter mentioned:

And whereas the Minister of Finance has given his precedent consent as required by section one hundred and fourteen of the Local Bodies’ Loans Act, 1926, to the borrowing by the said local authority of the said loan for the term hereinafter mentioned at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate hereinafter mentioned:

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 by section one hundred and fourteen of the Local Bodies’ Loans Act, 1926, and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising by the said local authority of the said loan up to the amount of five hundred pounds for a term of twenty-five years, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of six pounds per centum per annum, subject to the condition that the said local authority shall, before borrowing the said sum or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act, 1926, 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 rate of two pounds per centum, such payments to be made in respect of every part of the said sum 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.

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

(T. 49/213.)

Order in Council prescribing the Term for which the Sum of £130,000 may be borrowed by the Wellington City Council.

CHARLES FERGUSSON, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 29th day of July, 1929.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Wellington City Council (hereinafter called “the said local authority”) has been authorized to borrow, in respect of a loan to be known as “Wainui Waterworks Loan 1880 Repayment Loan, 1929,” the sum of one hundred and thirty thousand pounds, and the said sum has not yet been borrowed:

And whereas the Minister of Finance has given his precedent consent as required by section one hundred and fourteen of the Local Bodies’ Loans Act, 1926 (hereinafter called “the said section”), to the borrowing by the said local authority of the said sum of one hundred and thirty thousand pounds for the term hereinafter mentioned:

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 section, and of all other powers and authorities enabling him in this behalf, both hereby prescribe that the said sum of one hundred and thirty thousand pounds may be raised in respect of the said loan by the said local authority for a term of fifteen years, and the said local authority is hereby authorized to borrow the said sum accordingly.

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

(T. 49/168/14.)

Order in Council prescribing the Term for which the Sum of £18,300, being the Balance of a Loan of £500,000 may be borrowed by the Manawatu-Oroua Electric-power Board.

CHARLES FERGUSSON, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 29th day of July, 1929.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Manawatu-Oroua Electric-power Board (hereinafter called “the said local authority”) has been authorized to borrow the sum of five hundred thousand pounds, and the sum of eighteen thousand three hundred pounds has not yet been borrowed:

And whereas the Minister of Finance has given his precedent consent as required by section one hundred and fourteen of the Local Bodies’ Loans Act, 1926 (hereinafter called “the said section”), to the borrowing by the said local authority