New Zealand Gazette – 1930 – No. 20

Page 796

✨ Local Authority Loan Approvals



796
THE NEW ZEALAND GAZETTE.
[No. 20

Now, therefore, His Excellency the Administrator of the Government 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 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 no portion of interest or sinking fund shall be paid out of loan-moneys.

SCHEDULE.

First Column. Second Column. Third Column. Fourth Column. Fifth Column. Sixth Column. Seventh Column.
Consecutive Number. Name of Local Authority. Name of Loan. Amount of Loan. Term of Loan. Rate of Interest per Centum. Annual Rate per Centum of Payment into Sinking Fund.
1 Piako County Council .. Peek’s Road Loan, 1929 .. £ 2,000 Years. 20 £ s. d. 5 10 0 £ s. d. 3 0 0
2 Raglan County Council .. Bain’s Road Loan, 1929 .. 1,500 20 5 10 0 3 0 0
3 Tauranga County Council Te Puke Riding Loan, 1930 .. 7,900 16 5 10 0 4 4 6
4 Makerua Drainage Board Relief of Unemployment Loan, 1930 1,350 20 6 0 0 3 0 0

(T. 40/416/6.)
F. D. THOMSON, Clerk of the Executive Council.

Order in Council prescribing the Rates of Interest that may be paid by certain Local Authorities in respect of specified Loans or Portions thereof.

MICHAEL MYERS, Administrator of the Government.

ORDER IN COUNCIL.

At the Government House at Wellington, this 18th day of March, 1930.

Present:

HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL.

WHEREAS each of the local authorities mentioned in the Second Column of the Schedule hereto has been authorized to borrow, in respect of the loans referred to in the Third Column of the said Schedule, the respective sums stated in the Fourth Column of the said Schedule, and the respective amounts shown in the Fifth Column of the said Schedule have not been borrowed :

And whereas the Minister of Finance has in each case given his precedent consent as required by section one hundred and fourteen of the Local Bodies’ Loans Act, 1926 (hereinafter called “the said section”), and it is desired that the rates of interest at which the money may be borrowed be rates which shall not produce to the lenders rates exceeding the respective rates specified in the Sixth Column of the said Schedule :

Now, therefore, His Excellency the Administrator of the Government 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 by section eleven of the Local Government Loans Board Act, 1926, and of all other powers and authorities enabling him in this behalf, doth hereby prescribe that each of the amounts set out in the Fifth Column of the said Schedule may be raised by the respective local authority whose name is set out in the Second Column of the said Schedule, at a rate of interest being such as shall not produce to the lender a rate exceeding the respective rates specified in the Sixth Column of the said Schedule, and the respective local authorities are hereby authorized to borrow the respective sums accordingly.

SCHEDULE.

First Column. Second Column. Third Column. Fourth Column. Fifth Column. Sixth Column.
Consecutive Number. Name of Local Authority. Name of Loan. Amount of Loan authorized. Amount not borrowed. Rate of Interest prescribed.
1 Stratford Hospital Board .. Building Loan, 1930 .. .. £ 7,000 £ 7,000 Per Cent. 6
2 Waitemata Electric - power Board Reticulation Extension Loan, 1929 100,000 30,000 5¾
3 Christchurch Drainage Board Drainage and Sewerage Loan, 1928 242,500 78,300 5¾
4 ,, St. Martin’s and Radley’s Drainage and Sewerage Loan, 1928 53,000 44,100 5¾

(T. 40/416/6.)
F. D. THOMSON, Clerk of the Executive Council.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1930, No 20


NZLII — PDF NZ Gazette 1930, No 20




✨ LLM interpretation of page content

💰 Consent to Raising of Loans by Local Authorities (continued from previous page)

💰 Finance & Revenue
18 March 1930
Local Government Loans Board Act, local authorities, loan terms, interest rates
  • F. D. Thomson, Clerk of the Executive Council

💰 Order in Council prescribing the Rates of Interest for Local Authority Loans

💰 Finance & Revenue
18 March 1930
Local Bodies’ Loans Act, interest rates, local authorities, loan authorization
  • Michael Myers, Administrator of the Government
  • F. D. Thomson, Clerk of the Executive Council