✨ Local Authority Loan Approvals
1332
THE NEW ZEALAND GAZETTE.
[No. 37
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 20th day of May, 1932.
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:
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 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 | Awatere County Council .. | Hospital Contribution Redemption Loan, 1932 | £2,200 | Years. 16 | £ s. d. 5 0 0 | £ s. d. 4 5 0 |
| 2 | Central Electric - power Board | Reticulation Renewal Loan, 1932 | 12,300 | 20 | 5 0 0 | 3 0 0 |
| 3 | Christchurch City Council.. | Municipal Offices Redemption Loan, 1932 | 2,700 | 5 | 5 0 0 | 18 2 0 |
| 4 | Dargaville Borough Council | Antecedent Liability Renewal Loan, 1932 | 10,000 | 16 | 5 0 0 | 4 5 0 |
| 5 | ,, | Wairoa Bridge Renewal Loan, 1932 | 5,250 | 26 | 5 0 0 | 2 0 0 |
| 6 | ,, | Municipal Buildings Renewal Loan, 1932 | 7,950 | 26 | 5 0 0 | 2 0 0 |
| 7 | Invercargill City Council .. | Sewerage No. 1 Redemption Loan, 1932 | 22,150 | 20 | 5 0 0 | 3 0 0 |
| 8 | Kamo Town Board .. | No. 1 Electricity Redemption Loan, 1932 | 2,050 | 16 | 5 0 0 | 4 5 0 |
| 9 | Raetihi Borough Council .. | Hospital Road Renewal Loan, 1932 | 1,100 | 20 | 5 0 0 | 3 0 0 |
| 10 | Springs-Ellesmere Electric-power Board | No. 1 Redemption Loan, 1932.. | 15,000 | 20 | 5 0 0 | 3 0 0 |
| 11 | Stratford Borough Council | General Purposes Redemption Loan (No. 1), 1932 | 8,700 | 20 | 5 0 0 | 3 0 0 |
| 12 | Te Aroha Borough Council | Antecedent Liability Repayment Loan, 1932 | 5,350 | 10 | 5 0 0 | 4 10 0 |
| 13 | Wellington City Council .. | Cemetery Loan Repayment Loan (1907) Renewal Loan, 1932 | 3,500 | 7 | 5 0 0 | 4 0 0 |
| 14 | ,, .. | Street Widening Loan (Willis Street) Renewal Loan, 1932 | 30,000 | 7 | 5 0 0 | 2 2 0 |
| 15 | ,, .. | Unemployment Relief Works Loan (1922) Renewal Loan, 1932 | 10,550 | 7 | 5 0 0 | 2 0 0 |
| 16 | ,, .. | Waterworks and Te Aro Reclamation Loan Repayment Loan (1907) Renewal Loan, 1932 | 8,400 | 7 | 5 0 0 | 2 2 0 |
| 17 | ,, .. | Electric Light and Power Company Limited’s Undertaking Acquisition Loan (1907) Renewal Loan, 1932 | 32,200 | 7 | 5 0 0 | 12 5 0 |
| 18 | Kaikoura County Council | Electrical Installation Peninsula Riding (No. 1) Redemption Loan, 1932 | 4,850 | 10 | 5 0 0 | 2 2 0 |
| 19 | Napier Borough Council .. | Antecedent Liability Loan (1922) Redemption Loan, 1932 | 32,390 | 20 | 5 0 0 | 3 0 0 |
| 20 | Hutt County Council .. | Antecedent Liability Renewal Loan, 1932 | 6,490 | 20 | 5 0 0 | 3 0 0 |
| 21 | Upper Hutt Borough Council | Antecedent Liability Redemption Loan, 1932 | 470 | 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 1932, No 37
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NZ Gazette 1932, No 37
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💰 Order in Council consenting to the Raising of Loans by certain Local Authorities
💰 Finance & Revenue20 May 1932
Loans, Local Authorities, Interest Rates, Sinking Funds, Local Government Loans Board Act, 1926
- BLEDISLOE, Governor-General
- THE RIGHT HON. G. W. FORBES, PRESIDING IN COUNCIL
- F. D. THOMSON, Clerk of the Executive Council