622
THE NEW ZEALAND GAZETTE.
[No. 14

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 borrowing as 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 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 borrowing of moneys by
the said local authority pursuant to the said section thirty,
and in giving such consent doth hereby determine as follows :—

(1) Such borrowing may be by way of bank overdraft.

(2) The rate of interest payable from time to time shall
not exceed current bank overdraft rates of interest to best
customers.

(3) No moneys shall be borrowed under this authority
at any time after the thirty-first day of March, one thousand
nine hundred and thirty-five.

(4) The total amount (including unpaid interest, if any)
owing of moneys borrowed under this consent shall not, on
the thirty-first day of March, one thousand nine hundred and
thirty-five, exceed the sum of two thousand four hundred
pounds (£2,400).

(5) The amount so borrowed shall be liquidated in the
financial year 1935-36 either from revenue or from the
proceeds of a rate to be struck if necessary to ensure the
fulfilment of this condition.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/515/3.)

Order in Council consenting to the Borrowing by the Hawera
Fire Board of the Sum of £1,000 by way of Bank Overdraft.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 27th day
of February, 1935.

Present :

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

WHEREAS the Hawera Fire Board (hereinafter called
"the said local authority") being desirous of borrowing
by way of bank overdraft the sum of one thousand pounds
(£1,000) by a loan to be known as "Redemption Loan, 1935"
(hereinafter called "the said loan"), for the purpose of re-
deeming the outstanding liability in respect of a loan of two
thousand two hundred pounds (£2,200) which matures on the
first day of November, one thousand nine hundred and thirty-
five, 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 borrowing as 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 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 borrowing by the said local autho-
rity for the said purpose of the said loan by way of bank over-
draft up to the amount of one thousand pounds (£1,000), and
in giving such consent doth hereby determine as follows :—

(1) The term for which the said loan may be borrowed shall
not exceed five (5) years.

(2) The rate of interest payable from time to time in
respect of the said loan shall not exceed the current bank
overdraft rate to best customers.

(3) The said loan shall be repaid by annual instalments of
principal of not less than two hundred pounds (£200) during
the first four years of the currency of the loan and the balance
in the last year.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/628.)

Order in Council consenting to the Raising of a Loan of £32,000
by the Green Island Borough Council and prescribing the
Conditions thereof.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 27th day of
February, 1935.

Present :

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

WHEREAS the Green Island Borough Council (herein-
after called "the said local authority") proposes,
pursuant to the terms of a requisition issued under section
twenty-two of the Health Act, 1920, to raise the sum of
thirty-two thousand pounds (£32,000) by a loan to be known
as Drainage and Sewerage Loan, 1935 (hereinafter called "the
said loan"), for the purpose of providing drainage and sewerage
works for the borough :

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 thirty-two thousand pounds (£32,000) for
the said purpose, 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 extend beyond the first day of April,
one thousand nine hundred and sixty-five (1965).

(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
ten shillings (£3 10s.) per centum per annum.

(3) The said loan may be raised in sums of £10,000, £10,000,
and £12,000, which, together with interest on the outstanding
balances thereof, shall be repaid by annual instalments of
principal of the amounts and on the dates set out respectively
in the schedule hereunder :—

1st April First Sum. Second Sum. Third Sum.
£ £ £
1937 .. 500 ..
1938 .. 500 ..
1939 .. .. 500
1940 .. 500 ..
1941 .. .. 500
1942 .. .. 500
1943 .. 500 ..
1944 .. .. 500
1945 .. .. 500
1946 .. 500 ..
1947 .. .. 1,000
1948 .. 1,000 ..
1949 .. .. 1,000
1950 .. 1,000 ..
1951 .. .. 1,000
1952 .. 1,000 ..
1953 .. .. 1,000
1954 .. 1,000 ..
1955 .. .. 1,000
1956 .. .. 1,000
1957 .. 1,000 ..
1958 .. 2,000 ..
1959 .. .. 2,000
1960 .. 2,000 ..
1961 .. .. 2,000
1962 .. 2,000 ..
1963 .. .. 2,000
1964 .. 2,000 ..
1965 .. .. 2,000

Totals ..£10,000 £10,000 £12,000

(4) The payment of such instalments and loan interest shall
be made in New Zealand, and no such instalment or interest
shall be paid out of loan-money.

(5) The rate payable for brokerage, underwriting, and pro-
curation 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.

(6) No moneys shall be borrowed under this consent after
the expiration of two years from the date hereof.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/287.)