New Zealand Gazette – 1935 – No. 5

Page 101

✨ Loan Consent Orders

Jan. 24.] THE NEW ZEALAND GAZETTE. 101

in the First Column of the said Schedule of the respective sums stated in the Fifth Column of the said Schedule (hereinafter called “the said sums”), for the respective purposes for which the said loans were authorized, and in giving such consent doth hereby determine as follows :—
(1) The terms for which the said sums or any parts thereof may be raised shall be the respective terms (in years) stated in the Sixth Column of the said Schedule.
(2) The rates of interest that may be paid in respect of the said sums 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 Seventh Column of the said Schedule.
(3) The said local authorities shall, before raising the said respective sums 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 is 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 Eighth 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 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 sum or part thereof 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 respective sums or any parts thereof shall not in the aggregate exceed one-half per centum of any amount raised.
(6) The payment of interest and repayment of principal in respect of the said sums shall be made in New Zealand.
(7) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE.

First Column. Name of Local Authority.	Second Column. Name of Loan and Amount authorized.	Third Column. Date of and Gazette reference to consenting Order in Council.	Fourth Column. Amount of Loan Authority not exercised.	Fifth Column. Sum now authorized to be raised.	Sixth Column. Term of Loan (Years).	Seventh Column. Rate of Interest.	Eighth Column. Rate of Sinking Fund.
1. Christchurch City Council	Roading 1928 (Supplementary) Loan, 1934, £22,000	20th December, 1933; Gazette, 1934, page 55	£ 9,200	£ 9,200	15	£ s. d. 3 10 0	£ s. d. 5 4 0
2. Waimea County Council	Bridges Loan, 1929, £15,000	1st June, 1929; Gazette, 1929, page 1561	12,500	12,500	30	3 10 0	1 19 0
3. Waitemata County Council	Kaukapakapa Riding Loan, 1924, £19,000	10th November, 1924; Gazette, 1924, page 2713	2,300	2,300	35	3 10 0	1 10 0
4. Waitemata County Council	Waipareira Riding Loan, 1929, £15,000	1st June, 1929; Gazette, 1929, page 1561	10,300	700	15	3 10 0	5 4 0

(T. 40/416/6.) C. A. JEFFERY, 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 House at Wellington, this 23rd day of January, 1935.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans stated opposite their names therein, have respectively 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 respective local authorities mentioned in the First Column of the said Schedule of the respective loans set out in the Second Column of the said Schedule, up to the respective amounts specified in the Third 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 be the respective terms (in years) stated in the Fourth 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 Fifth Column of the said Schedule.
(3) The said respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the respective terms as determined in (1) above.
(4) The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.
(5) 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.
(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE.

First Column. Name of Local Authority.	Second Column. Name of Loan.	Third Column. Amount of Loan.	Fourth Column. Term of Loan (Years).	Fifth Column. Rate of Interest.
1. Castlepoint County Council	Grassendale Bridge Loan, 1935	£ 1,200	15	£ s. d. 3 10 0
2. Cook Hospital Board	Maternity Home Loan, 1935	5,500	10	3 10 0

(T. 40/416/6.) C. A. JEFFERY, Clerk of the Executive Council.

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✨ LLM interpretation of page content

💰 Order in Council consenting to the Raising of Loans by certain Local Authorities and prescribing the Conditions thereof (continued from previous page)

Domain💰 Finance & Revenue
Dated23 January 1935
KeywordsLoan, Local Authorities, Christchurch City Council, Waimea County Council, Waitemata County Council
👩‍💼 Officials

C. A. Jeffery, Clerk of the Executive Council
Bledisloe, Governor-General

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

Domain💰 Finance & Revenue
Dated23 January 1935
KeywordsLoan, Local Authorities, Castlepoint County Council, Cook Hospital Board
👩‍💼 Officials

C. A. Jeffery, Clerk of the Executive Council
Bledisloe, Governor-General

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