Mar. 5.] THE NEW ZEALAND GAZETTE. 471

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

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 2nd day of March, 1931.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Otago Electric-power Board (hereinafter called “the said local authority”) is desirous of borrowing moneys by way of bank overdraft, under section fifty-two of the Finance Act, 1930, No. 2 :

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 fifty-two to the following extent and subject to the following conditions :—

1. Such borrowing may be from time to time by way of overdraft, or from any other person or persons.
2. The rate of interest payable from time to time shall not exceed current bank-overdraft rates of interest to best customers.
3. No money so borrowed shall be used for any purposes except that of meeting initial losses.
4. No money shall be borrowed under this authority at any time after the thirty-first day of March, one thousand nine hundred and thirty-one.
5. The total amount owing (including unpaid interest) of the moneys so borrowed shall not on the thirty-first day of March, one thousand nine hundred and thirty-one, exceed whichever is the lower of the two following limits—namely, (a) the sum of twenty thousand two hundred and thirty pounds; (b) the amount permitted by the provisions of the said section fifty-two to be owing at the end of the financial year 1930–31.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/371/2.)

Order in Council consenting to the Raising of a Loan of £15,000 by the Waikato Hospital Board.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 2nd day of March, 1931.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Waikato Hospital Board (hereinafter called “the said local authority”) is desirous of raising the sum of fifteen thousand pounds by a loan to be known as “New Buildings Loan, 1930,” for the purpose of building additions to Nurses’ Home, Maternity Ward, laundry and workshop, and additions to Infectious Diseases Ward :

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 fifteen thousand pounds, at a rate or rates of interest being such as shall not produce to the lenders a rate exceeding the rate of five pounds fifteen shillings per centum per annum :

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 said local authority of the said loan up to the amount of fifteen thousand pounds,

at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of five pounds fifteen shillings per centum per annum, subject to the condition that the said sum shall be repaid by instalments of not less than ten thousand pounds in the second year of the currency of the loan and the balance in the third year.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/512.)

Order in Council prescribing the Rate of Interest in respect of the New Lynn Borough Council’s Loan of £1,800.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 2nd day of March, 1931.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the New Lynn Borough Council (hereinafter called “the said local authority”) has been authorized to borrow in respect of a loan to be known as “Whau Bridge Reconstruction Loan, 1930,” the sum of one thousand eight hundred pounds, and the said sum has not yet been borrowed :

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 (hereinafter called “the said section”), to the borrowing by the said local authority of the said sum of one thousand eight hundred pounds, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate hereinafter mentioned :

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 the Local Government Loans Board Act, 1926, and of all other powers and authorities enabling him in this behalf, doth hereby prescribe that the said sum of one thousand eight hundred pounds or any part thereof may be raised in respect of the said loan by the said local authority, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of six pounds per centum per annum, and the said local authority is hereby authorized to borrow the said sum accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/171/4.)

Order in Council prescribing the Term and Rate of Interest in respect of the Featherston County Council’s Loan of £500.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 2nd day of March, 1931.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Featherston County Council (hereinafter called “the said local authority”) has been authorized to borrow in respect of a loan to be known as “Ruffen Glen and Ruahara Bridges Loan, 1930,” the sum of five hundred pounds, and the said sum has not yet been borrowed :

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 (hereinafter called “the said section”), to the borrowing by the said local authority of the said sum of five hundred pounds for a term of fifteen years, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate hereinafter mentioned :

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 the Local Government Loans Board Act, 1926, and of all other powers and authorities enabling him in this behalf, doth hereby prescribe that the said sum of five hundred pounds or any part thereof may be raised in respect of the said loan by the said local authority for a term of fifteen years, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of five pounds seventeen shillings and sixpence per centum per annum, and the said local authority is hereby authorized to borrow the said sum accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/229/9.)

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