July 13.] THE NEW ZEALAND GAZETTE. 1895

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 10th day of July, 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 authorities 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 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 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 in New Zealand pursuant to this consent.

SCHEDULE.

(T. 40/416/6.)

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

Order in Council consenting to the Borrowing of Moneys by the Auckland Transport Board.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 10th day of July, 1933.

Present:

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

WHEREAS the Auckland Transport Board (hereinafter called “the said local authority”) is desirous of raising the sum of fifteen thousand pounds (£15,000) by a loan to be known as “Relief of Unemployment Loan, 1933,” for the purpose of relieving unemployment by carrying out tram-track reconstruction work:

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 borrowing as aforesaid 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 said local authority of the said loan up to the amount of fifteen thousand pounds (£15,000) at such rate or rates of interest as shall not produce to the lenders a rate exceeding the rate of four pounds (£4) per centum per annum, subject to the condition that the said sum shall be repaid by annual instalments of not less than one thousand eight hundred and seventy-five pounds (£1,875) in each of the first seven years of the currency of the loan and the balance in the eighth year.

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

(T. 49/457/3.)

Order in Council varying the Determinations in respect of the Woodville Borough Council’s Loan of £3,190, by prescribing Repayment on the Instalment-repayment System.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 10th day of July, 1933.

Present:

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

WHEREAS by Order in Council made on the fifteenth day of May, one thousand nine hundred and thirty-three, and subject to the determinations therein set out, consent was given to the raising by the Woodville Borough Council (hereinafter called “the said local authority”) of the sum of three thousand one hundred and ninety pounds (£3,190) by a loan to be known as “Antecedent Liability Redemption Loan, 1933” (hereinafter called “the said loan”):

And whereas the said loan has not yet been raised, and it is expedient to vary, as regards the borrowing and repayment thereof, certain of the determinations 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 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 by section thirty-two of the Local Bodies’ Loans Act, 1926, 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 sum of three thousand one hundred and ninety pounds (£3,190) may be raised by the said local authority upon terms of making such sum, together with interest thereon, repayable by equal aggregate half-yearly instalments extending over a period not exceeding twenty (20) years.

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

(T. 49/135/1.)