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Order in Council consenting to the North Auckland Electric-power Board borrowing Moneys by way of Bank Overdraft.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 28th day of July, 1930.
Present :
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the North Auckland Electric-power Board (hereinafter called "the said local authority") is desirous of borrowing moneys by way of bank overdraft under section seventy-one of the Electric-power Boards Act, 1925:
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 borrowing as aforesaid 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 borrowing of moneys by the said local authority under the said section seventy-one to the following extent and subject to the following conditions:

1. Such borrowing may be from time to time by way of bank overdraft.

2. The rate of interest payable from time to time shall not exceed current bank overdraft rates to best customers.

3. The total amount owing of money borrowed under this authority, including unpaid interest (if any), shall not at any time exceed the sum of one thousand two hundred pounds.

4. No money shall be borrowed under this authority at any time after a loan is raised pursuant to section fifty-three of the Electric-power Boards Act, 1925.
   F. D. THOMSON,
   Clerk of the Executive Council.

(T. 49/503.)

Order in Council validating Proceedings in connection with the Kaiapoi Borough Council's Loan of £3,000.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 28th day of July, 1930.
Present :
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Kaiapoi Borough Council lately proceeded to raise a loan of three thousand pounds under the Local Bodies' Loans Act, 1926 (hereinafter referred to as "the said Act"), for the purpose of meeting the Council's share of the cost of paving in concrete the main highway through the borough:
And whereas the proceedings in connection with the said loan were irregular or defective, in that--
(a) The voting-paper used for the purpose of the poll and the notice published pursuant to section ten of the said Act, hereinafter referred to as "the public notice," did not contain a statement whether or not it was proposed to pay out of the loan the cost of raising the loan or the interest and sinking fund for the first year:
(b) The voting-paper and public notice did not set forth the provisions for repayment of the loan:
And whereas it was proposed to pay out of the loan the cost of raising the loan but not the interest and sinking fund for the first year, and it was proposed to repay the loan within a period of twenty years:
And whereas it appears that the ratepayers of the district have not been misled by such irregularities or defects as aforesaid, and it is expedient to validate the same:
Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the powers and authorities conferred on him by section one hundred and twenty-two of the said Act, and of all other powers and authorities enabling him in this behalf, and acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby order and declare that the proceedings in connection with the said loan shall be valid to all intents and purposes as though--
(a) The voting-paper and the public notice had contained a statement that it was proposed to pay out of the loan the cost of raising the loan but not the interest and sinking fund for the first year:
(b) The voting-paper and the public notice had set forth the provisions for repayment of the loan as being within a period of twenty years:
And that the validity of the proceedings in connection with the said loan or the validity of the security for the said loan shall not be called in question by reason only of the irregularities or defects aforesaid.
F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/334/2.)

Order in Council consenting to the Raising of a Loan by the Auckland Fire Board.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 28th day of July, 1930.
Present :
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Auckland Fire Board (hereinafter called "the said local authority") is desirous of raising by way of bank overdraft the sum of four thousand pounds for the purpose of erecting a fire-brigade station at St. Heliers Bay, Auckland:
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 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 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 said local authority of the said loan by way of bank overdraft up to the amount of four thousand pounds for a term of one year, at such rate or rates of interest as shall not produce to the lender a rate exceeding current bank overdraft rates, subject to the condition that the local authority shall repay the said sum out of revenue or out of the proceeds of a conversion loan to be raised for that purpose.
F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/324/3.)

Order in Council consenting to the Raising of a Loan of £21,500 by the Wairoa Electric-power Board.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 28th day of July, 1930.
Present :
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Wairoa Electric-power Board (hereinafter called "the said local authority") is desirous of raising the sum of twenty-one thousand five hundred pounds by a loan to be known as "Redemption Loan, 1930," for the purpose of redeeming the outstanding liability in respect of four loans of five thousand pounds, five thousand pounds, ten thousand pounds, and three thousand pounds maturing first August, one thousand nine hundred and thirty:
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 set forth:
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 sum of twenty-one thousand five hundred pounds at a rate or rates of interest
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