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 in New Zealand by the said local authority of the said loan for the said purpose up to the amount of two thousand nine hundred pounds (£2,900), 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 six (6) 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 ten shillings (£3 10s.) per centum per annum.

(3) The said loan together with interest thereon shall be repaid by equal aggregate annual instalments extending over the term as determined in (1) above.

(4) 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. 44/116.)

Order in Council consenting to the Raising of the Balance (£6,000) of the Matamata Borough Council's Sewerage Loan, 1920, of £30,000, and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 22nd day of April, 1936.
Present:
THE HON. M. J. SAVAGE PRESIDING IN COUNCIL.
WHEREAS by Order in Council made on the fifth day of May, one thousand nine hundred and twenty, consent was given to the raising by the Matamata Town Board of the sum of thirty thousand pounds (£30,000) by a loan to be known as "Sewerage Loan, 1920" (hereinafter called "the said loan") of which the amount of six thousand pounds (£6,000) has not been borrowed:
And whereas by a Proclamation issued on the twenty-sixth day of November, one thousand nine hundred and thirty-four, the Matamata Town District was constituted a borough under the name of the Borough of Matamata:
And whereas by section nine of the Local Authorities Interest Reduction and Loans Conversion Amendment Act, 1934, the consent given by the said Order in Council was revoked in so far as the authority conferred thereby had not been exercised, and it is not now lawful or competent for the Matamata Borough Council (hereinafter called "the said local authority") to borrow any moneys to which such consent relates except in accordance with the provisions of an Order in Council under section eleven of the Local Government Loans Board Act, 1926;
And whereas it is expedient to authorize the said local authority to borrow on the conditions hereinafter mentioned the sum of six thousand pounds (£6,000) (hereinafter called "the said sum"), being the balance of the moneys to which the said Order in Council relates:
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, and by section nine of the Local Authorities Interest Reduction and Loans Conversion Amendment Act, 1934, and of all other powers and authorities enabling him in this behalf, doth hereby consent to the borrowing in New Zealand by the said local authority of the said sum or any part thereof for the purpose for which the said loan was authorized, and in giving such consent doth hereby determine as follows:

(1) The term for which the said sum or any part thereof may be borrowed shall not exceed 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 said local authority shall, before raising the said sum 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 (£2), such payments to be made in respect of every part of the said sum 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 the said sum or any part thereof so raised.

(4) The payment of interest and repayment of principal in respect of the said sum shall be made in New Zealand.

(5) No amount payable as either interest or sinking fund in respect of the said sum shall be paid out of loan-money.

(6) The rate payable for brokerage, underwriting, and procurement fees in respect of the borrowing of the said sum or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised.

(7) 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. 49/125.)

Order in Council consenting to the Raising of a Loan of £250 by the Ohura Town Board and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 22nd day of April, 1936.
Present:
THE HON. M. J. SAVAGE PRESIDING IN COUNCIL.
WHEREAS the Ohura Town Board (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 fifty pounds (£250) by a loan to be known as "Mangaroa River Bridge Loan, 1936" (hereinafter called "the said loan"), for the purposes of paying its proportion of the cost of erecting the Mangaroa River Bridge on the Pio Pio-Tatu 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 in New Zealand by the said local authority of the said loan for the said purpose up to the amount of two hundred and fifty pounds (£250), 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 ten (10) 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 ten shillings (£3 10s.) per centum per annum.

(3) The said loan shall be repaid by annual instalments of principal of twenty-five pounds (£25), the first such instalment payable on the day on which the contract to erect the bridge is let being free of interest, the remaining instalments together with interest on the outstanding balance of principal being payable annually thereafter over a period of nine (9) years.

(4) 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. 49/478.)