SEPT. 10.] THE NEW ZEALAND GAZETTE. 2765
Order in Council consenting to the Raising of a Loan of £25,000 by the Napier Borough Council.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 7th day of September, 1931.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Napier Borough Council (hereinafter called "the said local authority") is desirous of raising the sum of twenty-five thousand pounds pursuant to the provisions of section fifty-one of the Hawke's Bay Earthquake Act, 1931, by a loan to be known as "Earthquake Damage Repair Loan, 1931," for the purpose of repairing damage caused by the earthquake to the following municipal works and undertakings : Abattoir, water service, drainage and sanitary service, electric service, tramways, reserves, streets:
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 :
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 up to the amount of twenty-five thousand pounds, subject to the following conditions upon which the said loan may be so raised :—
(1) The term of the loan shall not exceed twenty-five years.
(2) The loan shall be free of interest for a period of five years from the date of the advance of the loan-moneys.
(3) The rate of interest thereafter payable shall be at such rate or rates as shall not produce to the lender a rate exceeding the rate of four pounds per centum per annum.
(4) The loan shall not be borrowed otherwise than on terms that the loan and the interest thereon shall be repaid by half-yearly instalments over a term of years (not exceeding twenty) calculated from the date on which interest first commences to accrue on any portion of the loan-moneys.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 40/562/10.)
Order in Council consenting to the Raising of a Loan of £2,700 by the Pahiatua County Council.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington this 7th day of September, 1931.
Present:
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Pahiatua County Council (hereinafter called "the said local authority") proposes, pursuant to the terms of a Warrant issued under section one hundred and thirty-five of the Public Works Act, 1928, to raise the sum of two thousand seven hundred pounds by a loan to be known as "The Mangatainoka River Bridge Loan, 1931," for the purpose of meeting its share of the cost of constructing a bridge over the Mangatainoka River on the Pahiatua Station Road Main Highway (together with approaches thereto):
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 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 said local authority of the said loan up to the amount of two thousand seven hundred pounds for a term not exceeding twenty-five years, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of five pounds per centum per annum, subject to the condition that the said local authority shall, before borrowing the said sum or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies' Loans Act, 1926, 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 rate of two pounds two shillings per centum, such payments to be made in respect of every part of the said sum 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.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/169/6.)
Order in Council consenting to the Raising of a Loan of £11,000 by the Hastings Borough Council.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 7th day of September, 1931.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Hastings Borough Council (hereinafter called "the said local authority") is desirous of raising the sum of eleven thousand pounds pursuant to the provisions of section fifty-one of the Hawke's Bay Earthquake Act, 1931, by a loan to be known as "Earthquake Repairs and Reconstruction Loan, 1931," for the purpose of repairing damage caused by the earthquake to borough buildings and works, excluding library, theatre, town clock, band rotunda, and storage-sheds : 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 :
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 up to the amount of eleven thousand pounds, subject to the following conditions upon which the said loan may be so raised :—
(1) The term of the loan shall not exceed twenty-five years.
(2) The loan shall be free of interest for a period of five years from the date of the advance of the loan-moneys.
(3) The rate of interest thereafter payable shall be at such rate or rates as shall not produce to the lender a rate exceeding the rate of four pounds per centum per annum.
(4) The loan shall not be borrowed otherwise than on terms that the loan and the interest thereon shall be repaid by half-yearly instalments over a term of years (not exceeding twenty) calculated from the date on which interest first commences to accrue on any portion of the loan-moneys.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 40/562/11.)
Order in Council prescribing the Rate of Interest in respect of the Timaru Borough Council's Loans of £46,300 and £8,800.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 7th day of September, 1931.
Present:
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Timaru Borough Council (hereinafter called "the said local authority") has been authorized to borrow in respect of loans to be known as "Electric-power and Light Consolidated Renewal Loan, 1931," and "Water-works Loan (No. 4) Renewal Loan, 1931," the sums of forty-six thousand three hundred pounds and eight thousand eight hundred pounds respectively, and the said sums have not yet been borrowed :