Aug. 15.] THE NEW ZEALAND GAZETTE. 2099

proportion to the amount so repaid as the amount set out in
the said Schedule as being payable in respect of such loans
bears to the whole loan.

(7) Upon maturity or upon repayment by the Borough
Council of the whole or any part of any of the loans enume-
rated in the said Schedule C, if and so far as no sinking funds
or accrued profits of an undertaking, or proceeds of realization
of assets created out of any respective loan, or other special
fund in the hands or at the disposal of the Borough Council
be available for repayment of such loan or part of a loan, so
that such repayment cannot (except for the provisions of this
subclause) be effected otherwise than by means of a special
loan raised for the purpose, then the County Council shall
pay to the Borough Council a one-hundred-and-forty-second
(1/142nd) part of the amount for which (except for the pro-
visions of this subclause) such special loan for repayment
would require to be raised.

4. (1) The County Council shall, as from and including the
   1st day of April, 1926, in every year during the currency of
   the loans enumerated in Schedule D hereto, and until the
   said loans and all interest charges thereon are fully dis-
   charged, pay to the Borough Council on account of the first
   alteration of boundaries the sum of three pounds fourteen
   shillings and four pence (£3 14s. 4d.) as its share of the
   interest, principal repayment, and sinking-fund charges on
   the said loans, being loans raised over areas now partly within
   the county.

(2) Such annual amount of three pounds fourteen shillings
and four pence (£3 14s. 4d.) shall be payable by equal half-
yearly instalments on the 1st day of March and 1st day of
September commencing on the 1st day of September, 1926,
the instalment due on the 1st day of September, 1926, being
a proportionate one.

(3) Upon repayment by the Borough Council of any of the
loans enumerated in the said Schedule D the said annual
payment shall be reduced by the amount set out in the said
Schedule as being payable in respect of the loan so repaid.

(4) In any year in which the County Council is called upon
by the Borough Council to pay the sum of three pounds
fourteen shillings and four pence (£3 14s. 4d.), or any part
thereof as provided by this clause, the Borough Council shall
return to the County Council an equivalent amount in con-
sideration of the retention by the borough of the assets
created out of the loans enumerated in the said Schedule D.

5. (1) The County Council shall, as from and including the
   1st day of April, 1928, in every year during the currency
   of the loans enumerated in Schedule E hereto, and until the
   said loans and all interest charges thereon are fully discharged
   pay to the Borough Council, on account of the second alter-
   ation of boundaries, the sum of twenty-six pounds eight
   shillings (£26 8s.) as its share of the interest, principal repay-
   ment, and sinking-fund charges on the said loans, being
   loans raised over areas now partly within the county.

(2) Such annual amount of twenty-six pounds eight shillings
(£26 8s.) shall be payable by equal half-yearly instalments
on the 1st day of March and the 1st day of September com-
mencing on the 1st day of September, 1928, the instalment
due on the 1st day of September, 1928, being a proportionate
one.

(3) The instalment due on the 1st day of September, 1928,
and the half-yearly instalment due on the 1st day of March,
1929, amounting to twenty-four pounds four shillings (£24 4s.)
shall be paid forthwith by the County Council to the Borough
Council.

(4) If and so soon as the Borough Council establishes
sinking funds for the partial or whole redemption of the
following loans, being portion of the loans enumerated in the
Schedule E hereto :—

(a) Te Kuiti Borough Municipal Buildings, Fire-station, and
Contingencies Loan of £1,850 ;

(b) Te Kuiti Borough River Deviation, Land and Streets
Loan of £3,150, being part of the Loan of £6,680 ;

then the annual amount of twenty-six pounds eight shillings
(£26 8s.) mentioned in subclause (1) of this clause shall be
increased by a three five-hundredth (3/500th) part of the
amounts paid yearly by the Borough Council towards the
establishment of sinking funds for the above-mentioned
loans, such increase in respect of amounts paid by the Borough
Council to such sinking fund during any financial year to be
payable, together with the half-yearly instalment payable
pursuant to subclause (2) of this clause on the 1st day of
September next following the close of such financial year.

(5) Upon repayment by the Borough Council of any of the
loans enumerated in the said Schedule E the said annual
payment shall be reduced by the amount set out in the
said Schedule as being payable in respect of the loan so repaid.

(6) Upon partial repayment by the Borough Council out
of sinking fund of any of the loans enumerated in the said
Schedule E the said annual payment shall be reduced by a
sum bearing the same proportion to the amount so repaid

as the amount set out in the said Schedule as being payable
in respect of such loans bears to the whole loan.

(7) Upon maturity or upon repayment by the Borough
Council of the whole or any part of any of the loans enumerated
in the said Schedule E, if and so far as no sinking funds, or
accrued profits of an undertaking, or proceeds of realization
of assets created out of any respective loan, or other special
fund in the hands or at the disposal of the Borough Council
be available for repayment of such loan or part of a loan,
so that such repayment cannot (except for the provisions of
this subclause) be effected otherwise than by means of a
special loan raised for the purpose, then the County Council
shall pay to the Borough Council a three five-hundredth
(3/500th) part of the amount for which (except for the pro-
visions of this subclause) such special loan for repayment
would require to be raised.

(8) That whereas the adjustment effected by this clause
is based on the fact that the proportion which the rateable
value of the area severed from the borough upon the second
alteration of boundaries (taken for the purposes of this adjust-
ment at £1,608) bears to the total rateable value of the
borough is in the proportion approximately of three to five
hundred : Now, therefore, if upon the revision of the district
valuation-roll for the borough next hereafter to be made
pursuant to section 8 of the Valuation of Land Act, 1925,
should the proportion of the rateable value of the area severed
from the borough upon the second alteration of boundaries
(as the same shall stand assessed upon the date at which such
revision shall take effect) bear to the total rateable value of
the borough as fixed upon such revision a proportion exceeding
the proportion of three to five hundred, then every instalment
of twenty-six pounds eight shillings (£26 8s.) referred to in
this clause falling due after the date when such revision
takes effect shall be increased proportionately and the three
five-hundredth (3/500th) part referred to in subclause (4) and
subclause (7) of this clause shall, as regards any payment
required after the date aforesaid to be made under the said
respective subclauses, be increased proportionately.

6. (1) The County Council shall, as from and including the
   1st day of April, 1928, in every year during the currency
   of the loans enumerated in Schedule F hereto, and until the
   said loans and all interest charges thereon are fully discharged,
   pay to the Borough Council on account of the second
   alteration of boundaries the sum of three pounds ten shillings
   and sixpence (£3 10s. 6d.) as its share of the interest, principal
   repayment, and sinking-fund charges on the said loans, being
   loans raised over areas now partly within the county.

(2) Such annual amount of three pounds ten shillings and
sixpence (£3 10s. 6d.) shall be payable by equal half-yearly
instalments in the 1st day of March and the 1st day of
September commencing on the 1st day of September, 1928,
the instalment due on the 1st day of September, 1928, being
a proportionate one.

(3) Upon repayment by the Borough Council of any of the
loans enumerated in the said Schedule F the said annual pay-
ment shall be reduced by the amount set out in the said
Schedule as being payable in respect of the loan so repaid.

(4) In any year in which the County Council is called upon
by the Borough Council to pay the sum of three pounds ten
shillings and sixpence (£3 10s. 6d.) or any part thereof, as
provided by this clause, the Borough Council shall return to
the County Council an equivalent amount in consideration of
the retention by the borough of the assets created out of the
loans enumerated in the said Schedule F.

7. (1) The County Council shall as from and including the
   1st day of April, 1928, in every year during the currency of
   the loans enumerated in Schedule G hereto, and until the
   said loans and all interest charges thereon are fully discharged,
   pay to the Borough Council on account of the third alteration
   of boundaries the sum of eighteen pounds three shillings
   (£18 3s.) as its share of the interest, principal repayment, and
   sinking-fund charges on the said loans, being loans raised
   over areas now partly within the county.

(2) Such annual amount of eighteen pounds three shillings
(£18 3s.) shall be payable by equal half-yearly instalments
on the 1st day of March and the 1st day of September com-
mencing on the 1st day of September, 1928, the instalment
due on the 1st day of September, 1928, being a proportionate
one.

(3) The instalment due on the 1st day of September, 1928,
and the half-yearly instalment due on the 1st day of March,
1929, amounting to sixteen pounds twelve shillings and
ninepence (£16 12s. 9d.) shall be paid forthwith by the
County Council to the Borough Council.

(4) If and so soon as the Borough Council establishes
sinking funds for the partial or whole redemption of the
following loans, being portion of the loans enumerated in the
Schedule G hereto :—

(a) Te Kuiti Borough Municipal Buildings, Fire-station, and
Contingencies Loan of £1,850 ;