JUNE 22.] THE NEW ZEALAND GAZETTE. 1647

Order in Council consenting to the Raising of a Loan of £850
by the Oamaru Fire Board.

—

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 19th day of
June, 1933.

Present:

THE RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.

WHEREAS the Oamaru Fire Board (hereinafter called
“the said local authority”) is desirous of raising
the sum of eight hundred and fifty pounds (£850) by a loan
to be known as “Fire-alarm System Loan, 1933,” for the
purchase and installation of a “Duplex” fire-alarm system :
And whereas the said local authority has 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 said
loan 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 said local authority of the said
loan up to the amount of eight hundred and fifty pounds
(£850) for a term not exceeding five (5) years at such rate
or rates of interest as shall not produce to the lenders a rate
exceeding current bank overdraft rates to best customers,
subject to the condition that the said loan shall be repaid by
equal aggregate annual instalments of principal of not less than
one hundred and seventy pounds (£170) during the first four
years of the currency of the loan and the balance in the last
year, and that no portion of interest on the loan or instalment
in repayment of principal shall be paid out of loan-money.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/341.)

—

Order in Council varying the Conditions as to the Borrowing
and Repayment of Specified Loans of the Napier Fire Board.

—

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 19th day of
June, 1933.

Present:

THE RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.

WHEREAS by Orders in Council made on the respective
dates stated in the Third Column of the Schedule
hereto, consent was given to the raising by the Napier Fire
Board (hereinafter called “the Board”) of the two loans
enumerated in the First Column of the said Schedule, up to
the respective amounts specified in the Second Column of
the said Schedule, and subject to the determinations as to the
borrowing and repayment thereof, as set out in the said
consenting Orders in Council respectively :
And whereas by reason of section six of the Local Authorities
Interest Reduction and Loans Conversion Act, 1932–33, it
was not lawful for the Board on or after the first day of April,
one thousand nine hundred and thirty-three, to raise one of
the said loans—namely, the Earthquake Damage Repairs
Loan, 1931 (No. 2)—at a rate of interest exceeding four
pounds five shillings (£4 5s.) per centum per annum :
And whereas neither of the said loans has yet been raised,
and it is expedient to authorize the Board to raise the said
Earthquake Damage Repairs Loan, 1931 (No. 2), at a rate of
interest in excess of the aforesaid rate of four pounds five
shillings (£4 5s.) per centum per annum, and otherwise to vary
certain of the determinations aforesaid as regards the borrowing
and repayment of each of such loans :
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 relating to the terms, rates of interest, and
rates of sinking-fund payments, as set out in the said Orders
in Council respectively, by prescribing that each of the said
loans, or any parts thereof, may be raised by the Board for a
term of twenty-five (25) years, at such rate or rates of interest
as shall not produce to the lenders a rate exceeding four pounds
ten shillings (£4 10s.) per centum per annum, and that the rate
of payments to the sinking fund established for the repayment
of each of the said loans shall be not less than two pounds
eight shillings (£2 8s.) per centum.

—

SCHEDULE.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/524.)

—

Order in Council varying certain Determinations as to the Raising
in London of the Auckland Electric-power Board’s Loan of
£224,500.

—

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 19th day of
June, 1933.

Present:

THE RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the sixth day
of January, one thousand nine hundred and thirty-three, and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising
in London by the Auckland Electric-power Board (hereinafter
called “the said local authority”) of the sum of two hundred
and twenty-four thousand five hundred pounds (£224,500)
by a loan to be known as “Redemption Loan, 1933” (hereinafter called “the said loan”) :
And whereas certain of the determinations aforesaid are
that the rate of interest at which the said loan may be raised
shall not exceed five pounds five shillings (£5 5s.) per centum
per annum, and that the term shall not exceed fifteen (15)
years :
And whereas the said loan has not yet been raised, and by
reason of section six of the Local Authorities Interest Reduction
and Loans Conversion Act, 1932–33, it is not now lawful for
the said local authority to raise the said loan at a rate of interest
in excess of four pounds five shillings (£4 5s.) per centum per
annum :
And whereas it is expedient that the said local authority
may be authorized to raise the said loan at a rate of interest
not exceeding four pounds ten shillings (£4 10s.) per centum
per annum for a term not exceeding five (5) years :
And whereas 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), (hereinafter called “the said
section”), the Governor-General in Council may vary or
modify, in such manner and to such extent as he thinks fit,
any such determination aforesaid :
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 section, and of all other powers
and authorities enabling him in this behalf, doth hereby vary
certain of the determinations aforesaid by prescribing that
the said loan may be raised in London at such rate or rates of
interest as shall not produce to the lenders a rate exceeding
four pounds ten shillings (£4 10s.) per centum per annum for a
term not exceeding five (5) years, and the said local authority
is hereby authorized to raise the said loan in London
accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/410/2.)

B