New Zealand Gazette – 1931 – No. 96

Page 3582

✨ Local Authority Loan Approvals



3582
THE NEW ZEALAND GAZETTE.
[No. 96

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 Featherston County Council Wilkinson’s Bridge Loan, 1931 £350 Years. 36½ £ s. d. 5 5 0 £ s. d. 1 0 0
2 ,, Perry’s Bridge Loan, 1931 300 36½ 5 5 0 1 0 0
3 Raglan Town Board Relief of Unemployment Loan, 1931 200 10 5 0 0 10 0 0
4 North Canterbury Hospital Board Buildings (Additional) Loan, 1931 2,700 20 5 5 0 3 0 0
5 Manawatu Drainage Board Relief of Unemployment Loan No. 2, 1931 500 20 5 0 0 3 0 0
6 Wakapuaka Drainage Board Drainage Improvement Loan, 1931 600 20 5 0 0 3 0 0
7 Franklin Electric - power Board Special Loan, 1929 6,500 26 5 0 0 2 0 0
8 Patea Borough Council Electric Change-over Loan, 1931 3,500 20 5 0 0 3 0 0
9 Geraldine County Council Rangitata Island Water-race Loan, 1931 1,100 26 5 5 0 2 0 0

(T. 40/416/6.)
F. D. THOMSON, Clerk of the Executive Council.

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 18th day of December, 1931.

Present:

THE RIGHT HON. G. W. FORBES, PRESIDING 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 Consolidated Loan 1909 Redemption Loan, 1931. £9,000 Years. 20 £ s. d. 5 5 0 £ s. d. 3 0 0
2 Heathcote County Council Mount Pleasant No. 1 Electric Repayment Loan, 1932 850 10 5 5 0 8 0 0
3 Lawrence Borough Council Redemption Loan, 1932 2,400 15 5 5 0 4 12 6
4 Timaru Borough Council Antecedent Liability Renewal Loan, 1932 24,750 10 5 5 0 8 0 0
5 Rangitikei County Council Ruanui Riding Redemption Loan, 1932 3,000 15 5 5 0 4 12 .6
6 Taumarunui Borough Council Road Machinery Repayment Loan, 1932 3,000 10 5 0 0 8 0 0
7 New Plymouth Harbour Board No. 1 Redemption Loan, 1932 120,000 7½ 5 0 0 1 10 0
8 Opunake Electric - power Board Renewal Loan, 1932 26,200 20 5 5 0 3 0 0
9 Napier Harbour Board Renewal Loan No. 15, 1932 20,700 26½ 5 5 0 2 0 0
10 Wanganui City Council Antecedent Liability and Other Purposes Repayment Loan, 1932 121,475 20 5 5 0 3 0 0

(T. 40/416/6.)
F. D. THOMSON, Clerk of the Executive Council.



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✨ LLM interpretation of page content

💰 Approval of Loans for Various Local Authorities

💰 Finance & Revenue
18 December 1931
Loans, Local Authorities, Terms, Interest Rates
  • F. D. Thomson, Clerk of the Executive Council
  • BLEDISLOE, Governor-General
  • THE RIGHT HON. G. W. FORBES, PRESIDING IN COUNCIL