✨ Local Authority Loan Interest Rates
Feb. 6.] THE NEW ZEALAND GAZETTE. 343
Order in Council prescribing the Rates of Interest that may be paid by certain Local Authorities in respect of specified Loans or Portions thereof.
CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 3rd day of February, 1930.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL 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 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 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 | Christchurch Tramway Board | Excess Cost Loan, 1929 .. | £ 10,600 | £ 10,600 | Per Cent. £ s. d. 5 10 0 |
| 2 | ,, | Development and Improvement Loan, 1929 | 6,500 | 6,500 | 5 10 0 |
| 3 | Wellington City Council .. | Milk-supply Loan 1919 Repayment Loan, 1930 | 45,400 | 45,400 | 5 15 0 |
| 4 | ,, .. | Melrose, Wadestown, and Northland Districts Drainage Loan 1919 Repayment Loan, 1930 | 26,250 | 26,250 | 5 15 0 |
| 5 | ,, .. | Street-widening Loan 1919 Repayment Loan, 1930 | 24,500 | 24,500 | 5 15 0 |
| 6 | Otago Electric-power Board | Otago Extension Loan, 1929 .. | 15,000 | 15,000 | 5 15 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.
CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 3rd day of February, 1930.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL 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 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 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 | Rotorua Borough Council .. | Sewerage Loan No. 1, 1929 .. | £ 24,860 | £ 24,860 | Per Cent. 5¾ |
| 2 | Auckland Transport Board | Transport Development Loan, 1929 | 526,600 | 475,700 | 5¾ |
(T. 40/416/6.) F. D. THOMSON, Clerk of the Executive Council.
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NZ Gazette 1930, No 9
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NZ Gazette 1930, No 9
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Order in Council prescribing the Rates of Interest for Local Authority Loans
(continued from previous page)
💰 Finance & Revenue3 February 1930
Local authority loans, interest rates, Local Bodies' Loans Act, 1926
- CHARLES FERGUSSON, Governor-General
- F. D. THOMSON, Clerk of the Executive Council