APRIL 5.] THE NEW ZEALAND GAZETTE. 951

Order in Council consenting to the Raising of Loans by the Waimairi County Council and prescribing the Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 20th day of March, 1934.

Present :

THE RIGHT HON. G. W. FORBES PRESIDING IN COUNCIL.

WHEREAS the Waimairi County Council (hereinafter called “the said local authority”), being desirous of raising the loans set out in the Schedule hereto, 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, as required by the said Act, should be given to the raising of the said 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 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 (mentioned in the Second Column of the said Schedule), of the respective loans set out in the Third Column of the said Schedule up to the respective amounts specified in the Fourth Column of the said Schedule, and in giving such consent doth hereby determine as follows :—

1. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in the Fifth Column of the said Schedule.

2. The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per centum per annum stated in the Sixth Column of the said Schedule.

3. The said local authority shall, before raising the said respective loans or any parts thereof, make provision for the repayment thereof by establishing sinking funds 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 payments to such sinking funds at intervals of not more than one year, at a rate or rates per centum which shall be not less than the respective rates stated in the Seventh Column of the said Schedule, such payments to be made in respect of every part of the said respective loans for the time being so raised and not repaid, the first such payment in each respective case to be made not later than one year after the first day from which interest to the lender or lenders is computed on any loan or part thereof so raised.

4. The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said respective loans or any parts thereof shall not in the aggregate exceed one-half per centum of any amount raised.

5. The payment of interest and repayment of principal in respect of the said loans shall be made in New Zealand.

SCHEDULE.

(T. 49/89/13.) F. D. THOMSON, Clerk of the Executive Council.

Order in Council consenting to the Raising of Loans by certain Local Authorities and prescribing the Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 20th day of March, 1934.

Present :

THE RIGHT HON. G. W. FORBES PRESIDING IN COUNCIL.

WHEREAS by notice published in the New Zealand Gazette of the 25th day of January, one thousand nine hundred and thirty-four, an Order was made by the Governor-General of the Dominion of New Zealand, acting in pursuance and exercise of the powers vested in him by sections sixteen and seventeen of the Hawke’s Bay Rivers Act, 1919, apportioning the cost of certain works for the control of flood-waters of the Tutaekuri River between the Hawke’s Bay Rivers Board and the other local authorities mentioned in such Order :

And whereas by virtue of the provisions of section four of the Hawke’s Bay Rivers Amendment Act, 1933, the said Board and the said other local authorities are empowered to raise loans for the purpose of enabling them to provide the respective shares or any portion of the respective shares of such works so apportioned to them :

And whereas for the aforesaid purpose the said Board and the local authorities enumerated in the Schedule hereto (being local authorities referred to in the said Order) propose to raise the respective loans stated opposite their names therein :

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 consent to the raising by the respective local authorities mentioned in the Second Column of the said Schedule, of the respective loans set out in the Third Column of the said Schedule, up to the respective amounts specified in the Fourth Column of the said Schedule, and in giving such consent doth hereby determine as follows :—

1. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in the Fifth Column of the said Schedule.

2. The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per centum per annum stated in the Sixth Column of the said Schedule.

3. The said local authorities shall, before raising the said respective loans or any parts thereof, make provision for the repayment thereof by establishing sinking funds 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 payments to such sinking funds at intervals of