SEPT. 13.] THE NEW ZEALAND GAZETTE. 2849
And whereas by Order in Council made on the tenth day
of September, one thousand nine hundred and thirty-four, the
aforesaid determinations were varied in respect of the sum of
seventy-five thousand pounds (£75,000) (hereinafter called
“the said sum”), being part of the said loan, whereby the
said sum was authorized to be raised in New Zealand, for a
term of thirty (30) years, with interest at three pounds ten
shillings (£3 10s.) per centum and a sinking fund of one
pound fifteen shillings (£1 15s.) per centum:
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 the said sum or
part thereof by the hypothecation or mortgage, pursuant to
section thirty-four of the Local Bodies' Loans Act, 1926,
of the debentures authorized to be issued in respect of the
said sum:
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 (by which,
inter alia, the rate of interest to be inserted in the said
debentures is limited to three pounds ten shillings (£3 10s.)
per centum), borrowing the said sum of seventy-five thousand
pounds (£75,000) or any part thereof 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. 49/222/10.)
Order in Council varying the Determinations in respect of Part,
(£75,000) of the Christchurch Tramway Board's Loan of
£84,000.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 10th day of
September, 1934.
Present:
THE RIGHT HON. G. W. FORBES PRESIDING IN COUNCIL.
WHEREAS by Order in Council made on the thirteenth
day of March, one thousand nine hundred and
thirty-four, and subject to the determinations as to borrowing
and repayment therein set out, consent was given to the raising
in London by the Christchurch Tramway Board (hereinafter
called “the said local authority”) of the sum of eighty-four
thousand pounds (£84,000) by a loan to be known as “London
Renewal Loan, 1934” (hereinafter called “the said loan”):
And whereas the said loan has not yet been raised, and it is
expedient to vary the determinations aforesaid in respect of
the sum of seventy-five thousand pounds (£75,000) hereinafter
called “the said sum”), being part 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 vary
the determinations aforesaid in respect of the said sum of
seventy-five thousand pounds (£75,000) by prescribing as
follows:—
(1) The term for which the said sum or any part thereof
may be raised shall be thirty (30) years.
(2) The rate of interest that may be paid in respect of the
said sum or any part thereof shall be such as shall not produce
to the lender or lenders a rate exceeding three pounds ten
shillings (£3 10s.) per centum per annum.
(3) The rate or rates per centum of the payments to be made
to the sinking fund to be established for the repayment
of the said sum shall be not less than one pound fifteen
shillings (£1 15s.).
(4) The payment of interest and repayment of principal
in respect of the said sum or any part thereof shall be made
in New Zealand.
(5) No moneys shall be borrowed under this consent after
the expiration of two years from the date hereof.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/222/10.)
Order in Council varying the Determinations in respect of
Portion (£22,300) of the Wellington City Council's Loan of
£90,000.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 10th day
of September, 1934.
Present:
THE RIGHT HON. G. W. FORBES PRESIDING IN COUNCIL.
WHEREAS by Order in Council made on the sixteenth
day of July, one thousand nine hundred and thirty-
four, and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising
by the Wellington City Council (hereinafter called “the said
local authority”) of the sum of ninety thousand pounds
(£90,000) by a loan to be known as “Renewal Loan, 1935”
(hereinafter called “the said loan”):
And whereas the sum of twenty-two thousand three hundred
pounds (£22,300) (hereinafter called “the said sum”), being
part of the said loan, has not yet been raised, and it is expedient
to vary certain of the determinations aforesaid in respect of
the said sum:
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
certain of the determinations aforesaid by prescribing that
the said sum of twenty-two thousand three hundred pounds
(£22,300) or any part thereof may be raised by the said local
authority upon terms of making such sum, together with
interest thereon at a rate not exceeding three pounds ten
shillings (£3 10s.) per centum per annum, repayable by equal
aggregate annual or half-yearly instalments extending over a
period of sixteen (16) years.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/168/70.)
Order in Council consenting to the Raising of a Loan of £275
by the Makara County Council and prescribing the Conditions
thereof.
BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 10th day of
September, 1934.
Present:
THE RIGHT HON. G. W. FORBES PRESIDING IN COUNCIL.
WHEREAS the Makara County 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 and
seventy-five pounds (£275) 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 reconstructing the Porirua Township bridge on the county section
of the Wellington-Auckland via Taranaki Main Highway:
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 for
the said purpose up to the amount of two hundred and
seventy-five pounds (£275), 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 be three (3) 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 three pounds fifteen
shillings (£3 15s.) per centum per annum.
(3) The said loan together with interest thereon shall be
repaid by equal annual or half-yearly instalments extending
over the term as determined in (1) above.
F. D. THOMSON,
Clerk of the Executive Council.
(T. 49/595.)