274
THE NEW ZEALAND GAZETTE.
[No. 10
Order in Council consenting to the Raising of Loans by certain Local Authorities and prescribing Terms and Rates of Interest.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 30th day of January, 1931.
Present :
THE RIGHT HON. G. W. FORBES, PRESIDING IN COUNCIL.
WHEREAS the several local authorities mentioned in the Schedule hereunto are desirous of raising the respective amounts set out opposite their names therein:
And whereas the said local authorities have 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 loans on the terms and conditions hereinafter set forth:
And whereas, in respect of such of the said loans as are intended to be borrowed at a rate of interest not otherwise authorized, 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, to the borrowing by the said local authorities of the respective loans aforesaid, for the terms set out in the Fifth Column of the said Schedule, at respective 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:
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 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 in no case shall any portion of interest or sinking fund be paid out of loan-moneys.
SCHEDULE.
| First | Second Column. | Third Column. | Fourth Column. | Fifth | Sixth | Seventh Column |
|---|---|---|---|---|---|---|
| Consecutive | Name of Local Authority. | Name of Loan. | Amount of | Term of | Rate of | Annual Rate |
| Number. | | | Loan. | Loan. | Interest | per Centum of |
| | | | | | per Centum. | Payment into |
| | | | | | | Sinking Fund. |
| 1 | Stratford County Council.. | Mangaehu Riding Loan, 1930 .. | £ 8,700 | Years. 25 | £ s. d. 5 15 0 | £ s. d. 2 2 0 |
| 2 | Napier Borough Council .. | Napier Market Reserve Building Erection Loan No. 1, 1930 | 29,000 | 30 | 5 15 0 | 1 10 0 |
| 3 | Featherston Borough Council | Streets Improvement Loan, 1930 | 300 | 10 | 5 15 0 | 8 0 0 |
| 4 | Manukau County Council .. | Mangere Special Area Water-supply Loan, 1930 | 55,400 | 30 | 5 10 0 | 1 10 0 |
| 5 | Wallace and Fiord Hospital Board | Nurses' Home Loan, 1930 .. | 1,500 | 7 | 5 15 0 | 12 5 0 |
| 6 | Manukau County Council .. | Tamaki River Bridge Loan, 1930 | 800 | 36½ | 5 15 0 | 1 0 0 |
(T. 40/416/6.)
C. A. JEFFERY, Acting Clerk of the Executive Council.
Order in Council consenting to the Raising of specified Loans or Portions thereof on the Instalment-repayment System and prescribing Rates of Interest.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 30th day of January, 1931.
Present :
THE RIGHT HON. G. W. FORBES, PRESIDING IN COUNCIL.
WHEREAS the local authorities mentioned in the Second Column of the Schedule hereunto have 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 said local authorities are desirous of raising the respective amounts set out in the said Fifth Column of the said Schedule upon terms of making the same, together with interest thereon, repayable by instalments extending over periods not exceeding the respective periods set out in the Seventh Column of the said Schedule:
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, to the borrowing by the said local authorities of the respective loans aforesaid at respective 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:
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 sections thirty-two and one hundred and fourteen of the Local Bodies’ Loans Act, 1926, 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 consent to the raising by the local authorities whose names are set out in