Order in Council consenting to the Raising of a Portion (£370,600) of a Loan of £553,000 by the New Plymouth Borough Council.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 27th day of March, 1933.
Present:
His Excellency THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the New Plymouth Borough Council (hereinafter called “the said local authority”) has been authorized to raise the sum of five hundred and fifty-three thousand pounds (£553,000) by a loan hitherto referred to as “Loans Repayment Loan, 1932,” the full title of which is “The New Plymouth Borough Council Loans Repayment Loan, 1932, of £553,000”:
And whereas the said local authority desires to borrow part of the said sum of five hundred and fifty-three thousand pounds (£553,000)—namely, the sum of three hundred and seventy thousand six hundred pounds (£370,600)—on the terms 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 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 sum of three hundred and seventy thousand six hundred pounds (£370,600), for a term not exceeding twenty-six (26) years, at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of five pounds twelve shillings and sixpence (£5 12s. 6d.) 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 (£2) 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 conditions that no portion of interest or sinking fund shall be paid out of loan-moneys, and that the said local authority shall not enter into any contract for payment of brokerage at a rate exceeding one-half per centum on any sum borrowed pursuant to this consent.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/106/9.)
Order in Council authorizing the Borrowing by the New Plymouth Borough Council by way of Hypothecation of Debentures issued in respect of Portion (£370,600) of the Loans Repayment Loan, 1932, £553,000.

BLEDISLOE, Governor-General.
By his Deputy,
MICHAEL MYERS.
ORDER IN COUNCIL.
At the Government House at Wellington, this 13th day of April, 1933.
Present:
His Excellency THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the New Plymouth Borough Council (hereinafter called “the said local authority”) has been authorized to borrow in respect of a loan hitherto referred to as “Loans Repayment Loan, 1932,” the full title of which is “The New Plymouth Borough Council Loans Repayment Loan, 1932, of £553,000,” the sum of five hundred and fifty-three thousand pounds (£553,000):
And whereas the said local authority has been authorized to raise a part of the said sum of five hundred and fifty-three thousand pounds (£553,000)—namely, the sum of three hundred and seventy thousand six hundred pounds (£370,600)—upon the terms set out in an Order in Council dated the twenty-seventh day of March, one thousand nine hundred and thirty-three, issued pursuant to the powers conferred by the Local Government Loans Board Act, 1926:
And whereas the said local authority was by an Order in Council of the same date, issued pursuant to section seven of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, authorized to borrow the sum of three hundred and seventy thousand six hundred pounds (£370,600) by hypothecation or mortgage of debentures authorized to be issued under the Order in Council first above mentioned:
And whereas the said hypothecation loan had not been borrowed on or prior to the thirty-first day of March, one thousand nine hundred and thirty-three, and it is expedient that fresh consent should be given to the borrowing of the said hypothecation loan after the said thirty-first day of March, one thousand nine hundred and thirty-three:
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 section seven of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and of all other powers and authorities enabling him in this behalf, doth hereby consent to the borrowing of the said sum of three hundred and seventy thousand six hundred pounds (£370,600), or any part thereof, on or after the first day of April, one thousand nine hundred and thirty-three, by the hypothecation or mortgage of the said debentures, at a rate of interest not exceeding six per centum per annum, and the said local authority is hereby authorized as from the first day of April, one thousand nine hundred and thirty-three, to borrow the said sum accordingly.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/106/9.)
Order in Council varying the Conditions in respect of a Portion—viz., £23,400—of the New Plymouth Borough Council’s Loan of £553,000 by prescribing Repayment by Instalments of Principal.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 15th day of May, 1933.
Present:
RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.
WHEREAS by Order in Council made on the twenty-fourth day of August, one thousand nine hundred and thirty-two (hereinafter called “the first Order”), and subject to the determinations therein set out, consent was given to the raising by the New Plymouth Borough Council (hereinafter called “the said local authority”) of the sum of five hundred and fifty-three thousand pounds (£553,000), by a loan therein referred to as Loans Repayment Loan, 1932, the full title of which is “The New Plymouth Borough Council Loans Repayment Loan, 1932, of £553,000” (hereinafter called “the said loan”):
And whereas by Order in Council made on the twenty-seventh day of March, one thousand nine hundred and thirty-three (hereinafter called “the second Order”), and subject to the determinations therein set out which varied certain of the determinations set out in the first Order, consent was given to the raising by the said local authority of a portion—viz., three hundred and seventy thousand six hundred pounds (£370,600)—of the said loan:
And whereas the said local authority desires to raise twenty-three thousand four hundred pounds (£23,400) of the said portion, upon the terms of repayment 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 section eleven of the Local Government Loans Board Act, 1926, as set out in section twenty-nine of the Finance Act, 1932 (No. 2), and of all other powers and authorities enabling him in this behalf, doth hereby vary the determinations set out in the second Order by prescribing that the aforesaid sum of twenty-three thousand four hundred pounds (£23,400) may be raised by the said local authority upon terms of making such sum repayable over a period of twenty-six (26) years by instalments of principal in the following manner, that is to say:—During the first four (4) years of the currency of the loan, two hundred pounds (£200) shall be repaid at the end of each half-year; during the second four (4) years, four hundred pounds (£400) shall be repaid at the end of each half-year; during the next ten and a half (10½) years, six hundred pounds (£600) shall be repaid at the end of each half-year; and during the final seven and a half (7½) years, four hundred pounds (£400) shall be repaid at the end of each half-year.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/106/9.)