Feb. 1.] THE NEW ZEALAND GAZETTE. 173

Order in Council authorizing the Borrowing by the Clifton County Council by way of Hypothecation of Debentures issued in respect of £362 10s., being the Balance of a Loan of £725.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 25th day of January, 1934.

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 by the Clifton County Council (hereinafter called “the said local authority”) of the sum of seven hundred and twenty-five pounds (£725) by a special loan to be known as “Relief of Unemployment (Mohakatino Road) Loan, 1933,” of which the sum of three hundred and sixty-two pounds ten shillings (£362 10s.) (hereinafter called “the said sum”), being the balance of the said loan, has not yet been raised:

And whereas the said determinations have been varied in respect of the said sum by Order in Council made on the twenty-fifth day of January, one thousand nine hundred and thirty-four, which provides that the said sum may be raised on the instalment-repayment system over a period of ten (10) years with interest at four pounds five shillings (£4 5s.) per centum per annum:

And whereas the said local authority, pending the raising of the said sum in accordance with the said determinations varied as aforesaid, is desirous of borrowing such sum by the hypothecation or mortgage, pursuant to section thirty-four of the Local Bodies’ Loans Act, 1926, of debentures authorized to be issued in respect thereof:

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 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 said local authority, pending the raising of the said sum in accordance with the said determinations varied as aforesaid, borrowing the said sum of £362 10s. by the hypothecation or mortgage of the said debentures at a rate of interest not exceeding five pounds (£5) per centum per annum.

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

(T. 49/156/8.)

Order in Council consenting to the Raising of a Loan of £400 by the Chatham Islands County Council and prescribing the Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 25th day of January, 1934.

Present:

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

WHEREAS the Chatham Islands County Council (hereinafter called “the said local authority”), being desirous of raising the sum of four hundred pounds (£400) by a loan to be known as “Waitangi Wharf Loan (No. 2), 1933” (hereinafter called “the said loan”), for the purpose of meeting the cost of completing the erection of a wharf, sheds, and approaches at Waitangi, has complied with the provisions of the Local Government Loans Board Act, 1926, 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 loan:

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 said local authority of the said loan up to the amount of four hundred pounds (£400), and in giving such consent doth hereby determine as follows:—

1. The term for which the said loan or any part thereof may be raised shall not exceed twenty-five (25) years.

2. The rate of interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding four pounds sixteen shillings (£4 16s.) per centum per annum.

3. The said local authority shall, before raising the said loan or any part 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, and shall thereafter make payments to such sinking fund at intervals of not more than one year, at a rate or rates per centum which shall be not less than two pounds eight shillings (£2 8s.), such payments to be made in respect of every part of the said loan for the time being so raised and not repaid, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on any amount so raised.

4. No amount payable as either interest or sinking fund in respect of any moneys raised pursuant to this consent shall be paid out of such moneys.

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

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

(T. 49/380.)

Order in Council consenting to the Raising by the Hokianga County Council of the Sum of £1,000, being Part of a Loan of £5,000, and prescribing the Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 25th day of January, 1934.

Present:

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

WHEREAS by Order in Council made on the twenty-ninth day of October, one thousand nine hundred and twenty-three, consent was given to the raising by the Hokianga County Council (hereinafter called “the said local authority”) of a loan of five thousand pounds (£5,000):

And whereas the sum of one thousand pounds (£1,000) (hereinafter called “the said sum”), being part of the said loan, has not yet been raised, and it is expedient that the said local authority may be authorized to raise the said sum on the conditions 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 by the Local Bodies’ Loans Act, 1926, and of all other powers and authorities enabling him in this behalf, doth hereby prescribe and determine that the said local authority may raise the said sum of one thousand pounds (£1,000), or any part thereof, upon terms of making the same, together with interest thereon, at a rate which shall not produce to the lenders a rate exceeding four pounds five shillings (£4 5s.) per centum per annum, repayable by instalments extending over a period of twenty (20) years, and doth hereby consent to the raising by the said local authority of the said sum accordingly.

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

(T. 49/138.)

Order in Council consenting to the Raising of a Loan of £200 by the Riverton Borough Council and prescribing the Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 25th day of January, 1934.

Present:

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

WHEREAS the Riverton Borough Council (hereinafter called “the said local authority”) proposes, pursuant to the provisions of section three of the Main Highways Amendment Act, 1928, to borrow the sum of two hundred pounds (£200) by a loan to be known as “Main Highways Loan, 1934” (hereinafter called “the said loan”), for the purpose of paying its proportion of the cost of sealing work on the Riverton Borough section of the Invercargill-Tuatapere Main Highway: