Aug. 27.]

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 conferred on him
by section seventeen of the Public Reserves, Domains, and
National Parks Act, 1928, doth hereby appoint the said
Joseph Adam Bagrie
to be a member of the Lower Shotover Public Hall Board,
constituted by the Order in Council dated the tenth day of
April, one thousand nine hundred and thirty-five, herein-
before referred to, in place of the said Kenneth Alexander
Brown, resigned.
C. A. JEFFERY,
Clerk of the Executive Council.
(L. and S. 22/3630/41.)
Order in Council authorizing the Borrowing by the Franklin
Electric-power Board by way of Hypothecation of Debentures
issued in respect of a Sum of £10,000.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 19th day of
August, 1936.
Present :
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS by Order in Council made on the third day
of December, one thousand nine hundred and thirty-
five, and subject to the determinations as to the borrowing
and repayment therein set out, consent was given to the
raising in New Zealand by the Franklin Electric-power Board
(hereinafter called "the said local authority ") of the sum of
ten thousand pounds (£10,000) (hereinafter called "the said
sum"), being the balance of a loan of seventy-five thousand
pounds (£75,000) known as "Special Loan, 1929":
And whereas the said local authority, pending the raising
of the said sum in accordance with the said determinations,
is desirous of borrowing the said sum or part thereof by
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 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 (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
ten thousand pounds (£10,000) or any part thereof by the
hypothecation or mortgage of the said debentures at a rate
of interest not exceeding four pounds ten shillings (£4 10s.)
per centum per annum, 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),
hereby prescribes that the said local authority shall, before
the said sum or any portion thereof is borrowed by way of
hypothecation pursuant to the authority of this Order in
Council, establish a sinking fund and make payments thereto
in accordance with the terms of clause three of the aforesaid
Order in Council of the third day of December, one thousand
nine hundred and thirty-five, and in all respects as if such
borrowing of the said sum of ten thousand pounds (£10,000)
by way of hypothecation were the raising of a loan within the
meaning of that clause.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/198/2.)
Order in Council varying the Determinations in respect of
Portion (£50,000) of the Auckland and Suburban Drainage
Board's Loan of £104,000.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 19th day of
August, 1936.
Present :
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS by Order in Council made on the fourteenth
day of July, one thousand nine hundred and thirty-
six, and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising
by the Auckland and Suburban Drainage Board (hereinafter
called "the said local authority") of the sum of one hundred
and four thousand pounds (£104,000) by a loan to be known
as "Loan No. 11" (hereinafter called "the said loan"):
And whereas by Order in Council made on the twenty-ninth
day of July, one thousand nine hundred and thirty-six,
certain of the determinations were varied in respect of a
portion-fifty thousand pounds (£50,000)-of the said loan
(hereinafter called "the said sum") by prescribing that in
lieu of making provision for the repayment of the said sum
at the expiration of a period of twenty-nine (29) years the said
local authority shall provide for the repayment of the said
sum by the annual redemption of debentures from the sinking
fund as set out in the table of repayments therein specified:
And whereas the said sum has not yet been borrowed and
it is expedient to vary certain of the determinations 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 modify
the determinations in respect of the said sum by prescribing
that in lieu of establishing a sinking fund in pursuance of
clause three of the aforesaid Order in Council of the fourteenth
day of July, one thousand nine hundred and thirty-six, the
said local authority shall in respect of the said sum establish
a separate sinking fund and pay thereto each year during the
currency of the debentures issued in respect of the said sum of
fifty thousand pounds (£50,000) an amount of one thousand
and twenty-five pounds (£1,025), increased each year by an
amount equivalent to three and one-half per centum on all
debentures redeemable as provided in the Order in Council of
the twenty-ninth day of July, one thousand nine hundred and
thirty-six, up to and including the previous redemption date.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/393/3.)
Order in Council consenting to the Raising of a Loan of £500
by the Heathcote County Council and prescribing the Conditions
thereof.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 19th day of
August, 1936.
Present :
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Heathcote County Council (hereinafter
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 five hundred
pounds (£500) by a loan to be known as "Cashmere Sewerage
Extension Loan, 1936" (hereinafter called "the said loan"),
for the purpose of extending the present sewerage system in
the Cashmere Riding:
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 five
hundred pounds (£500), 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 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 pro-
duce to the lender or lenders a rate exceeding three pounds
ten shillings (£3 10s.) per centum per annum.
(3) The said loan or any part thereof together with interest
thereon shall be repaid by equal aggregate annual or half-
yearly instalments extending over the term as determined
in (1) above.
(4) The payment of such instalments shall be made in
New Zealand, and no instalment shall be paid out of loan-
moneys.
(5) The rate payable for brokerage, underwriting, and
procuration 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. 49/99/9.)