JUNE 8.] THE NEW ZEALAND GAZETTE. 1535

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 2nd day of June, 1933.
Present :
THE RIGHT HON. J. G. COATES 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 section eleven of the said Act (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 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 autho-
rities shall, before borrowing the said respective sums, or any parts 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 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 from the first day from which interest to the lender is
computed on any moneys so borrowed, and subject to the further condition that the respective local authorities shall not enter
into any contracts for payment of brokerage at any rate exceeding one-half per centum on any sum borrowed pursuant to this
consent.

SCHEDULE.

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

Order in Council varying the Rates of Interest in respect of Specified Loans of the Wellington City Council.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 2nd day of June, 1933.
Present :
THE RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the respective dates specified in the Second Column of the Schedule hereto,
consent was given to the raising by the Wellington City Council of the loans enumerated in the First Column of
the said Schedule, up to the amounts therein stated, for the terms and at the rates of interest mentioned in the respective
consenting Orders in Council and subject to the conditions relating to the establishment of sinking funds therein set out :

And whereas the sums stated in the Third Column of the said Schedule have not yet been borrowed, and it is expedient
to vary, as regards the borrowing thereof, the respective conditions of the said Orders in Council relating to the rate of interest
at which the said sums may be borrowed :

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 respective
conditions contained in the said Orders in Council relating to the respective rates of interest at which the said sums may be
borrowed by prescribing that the said sums stated in the Third Column of the said Schedule or any parts thereof may be
raised at rates of interest being such as shall not produce to the lenders rates exceeding the respective rates specified in the
Fourth Column of the said Schedule, subject to the condition that the said sums are raised in London, England.

SCHEDULE.

(T. 49/168/45.) F. D. THOMSON, Clerk of the Executive Council.