✨ Local Authority Loan Approvals
2962
THE NEW ZEALAND GAZETTE.
[No. 75
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 House at Wellington, this 12th day of October, 1931.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the several local authorities mentioned in the Schedule hereto 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.
SCHEDULE.
| First Column. | Second Column. | Third Column. | Fourth Column. | Fifth Column. | Sixth Column. | Seventh Column. |
|---|---|---|---|---|---|---|
| Consecutive Number. | Name of Local Authority. | Name of Loan. | Amount of Loan. | Term of Loan. | Rate of Interest per Centum. | Annual Rate per Centum of Payment into Sinking Fund. |
| 1 | Auckland City Council .. | Queen Street Paving Redemption Loan, 1932 | £ 5,000 | Years. 20 | £ s. d. 5 0 0 | £ s. d. 3 0 0 |
| 2 | ,, .. | Water-supply Extension Redemption Loan, 1932 | 15,800 | 20 | 5 0 0 | 3 0 0 |
| 3 | Hamilton Borough Council | Drainage and Library Renewal Loan, 1932 | 51,500 | 26 | 5 0 0 | 2 0 0 |
| 4 | ,, | Gasworks Renewal (part £5,000) Loan, 1932 | 3,100 | 15 | 5 0 0 | 4 12 6 |
| 5 | ,, | Whatawhata Bridge Renewal Loan, 1932 | 900 | 20 | 5 0 0 | 3 0 0 |
| 6 | Taihape Borough Council | Water and Sewerage Redemption Loan, 1932 | 20,950 | 30 | 5 5 0 | 1 10 0 |
| 7 | ,, | Public Works Construction and Improvements and Electric Light Extension Redemption Loan, 1932 | 15,700 | 25 | 5 5 0 | 2 2 0 |
| 8 | Wellington City Council .. | Consolidated Loan Repayment Loan 1907 Repayment Loan, 1932 | 118,800 | 5 | 5 0 0 | 2 0 0 |
| 9 | ,, .. | Electric Tramways Street Paving and Town Hall 1902 Repayment Loan, 1932 | 171,700 | 5 | 5 0 0 | 3 0 0 |
| 10 | ,, .. | Sanitation Loan 1907 Repayment Loan, 1932 | 33,000 | 5 | 5 0 0 | 2 2 0 |
| 11 | St. Kilda Borough Council | Works Redemption Loan, 1932 | 13,300 | 10 | 5 0 0 | 4 0 0 |
| 12 | Otahuhu Borough Council | Water and Drainage Redemption Loan, 1932 | 4,700 | 20 | 5 0 0 | 3 0 0 |
| 13 | ,, | Great South Road Redemption Loan, 1932 | 2,000 | 16½ | 5 0 0 | 4 0 0 |
| 14 | ,, | Office Redemption Loan, 1932.. | 500 | 20 | 5 0 0 | 3 0 0 |
| 15 | Stratford County Council | North Riding Redemption Loan, 1932 | 1,560 | 20 | 5 5 0 | 3 0 0 |
| 16 | ,, | South Riding Redemption Loan, 1932 | 2,880 | 20 | 5 5 0 | 3 0 0 |
| 17 | ,, | East Riding Redemption Loan, 1932 | 4,860 | 20 | 5 5 0 | 3 0 0 |
| 18 | ,, | West Riding Redemption Loan, 1932 | 3,050 | 20 | 5 5 0 | 3 0 0 |
| 19 | Green Island Borough Council | Waterworks Redemption Loan, 1931 | 5,700 | 20 | 5 0 0 | 3 0 0 |
(T. 40/416/6.)
F. D. THOMSON, Clerk of the Executive Council,
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VUW Te Waharoa —
NZ Gazette 1931, No 75
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NZ Gazette 1931, No 75
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💰 Order in Council Approving Local Authority Loans
💰 Finance & Revenue12 October 1931
Loans, Local Authorities, Sinking Funds, Interest Rates, Auckland, Hamilton, Taihape, Wellington, St. Kilda, Otahuhu, Stratford, Green Island
- BLEDISLOE, Governor-General
- F. D. THOMSON, Clerk of the Executive Council