Feb. 25.] THE NEW ZEALAND GAZETTE. 469

to general account any moneys advanced for this purpose, 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
raising 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 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 in New Zealand by
the said local authority of the said loan for the said purpose
up to the amount of nine thousand five hundred pounds
(£9,500), 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 twenty (20) 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
shilling (£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 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. 49/221/5.)

Order in Council varying the Determinations in respect of Portion (£2,000) of the Alexandra Borough Council’s Loan of £7,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 18th day of February, 1937.

Present :

THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the fourth day of November, 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 in New Zealand by the Alexandra Borough Council (hereinafter called “ the said local authority ”) of a loan of seven thousand pounds (£7,000) by a loan to be known as “ Sewerage Loan, 1936 ” (hereinafter called “ the said loan ”) :

And whereas the determinations as to repayment in respect of portion—two thousand pounds (£2,000)—of the said loan were varied by Order in Council issued on the ninth day of December, one thousand nine hundred and thirty-six :

And whereas the authority conferred by the Orders in Council issued on the fourth day of November, one thousand nine hundred and thirty-six, and the ninth day of December, one thousand nine hundred and thirty-six, has not yet been exercised, and it is expedient to vary the determinations in respect of the said sum of two thousand pounds (£2,000) (hereinafter called “ 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 the determinations in respect of the said sum by prescribing that in lieu of repayment as specified in clause two of the Order in Council issued on the ninth day of December, one thousand nine hundred and thirty-six, the said sum, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over a period of twenty (20) years.

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

(T. 49/303/2.)
D

Order in Council varying the Determinations in respect of Portion (£10,000) of the Waitaki Electric-power Board’s Loan of £15,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 15th day of February, 1937.

Present :

THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the twenty-seventh day of January, one thousand nine hundred and thirty-seven, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Waitaki Electric-power Board (hereinafter called “ the said local authority ”) of a loan of fifteen thousand pounds (£15,000) by a loan to be known as “ Extension Loan, 1936 ” (hereinafter called “ the said loan ”) :

And whereas the authority conferred by the said Order in Council has not yet been exercised, and it is expedient to vary the determinations in respect of portion—ten thousand pounds (£10,000) (hereinafter called “ 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 in respect of the said sum by prescribing as follows :—

(1) In lieu of the term of twenty-five (25) years specified in clause one of the said Order in Council the term shall be fifteen (15) years.

(2) In lieu of repayment as specified in clause three of the said Order in Council the said sum shall be repaid as follows :—

(a) By thirty equal payments of three hundred and forty-nine pounds fourteen shillings and fivepence (£349 14s. 5d.), one of such payments to be made at the end of every half-year commencing from the date on which the said sum was borrowed. Each such half-yearly payment shall be applied firstly in payment of interest computed at the rate of three pounds ten shillings (£3 10s.) per centum per annum on the amount of the principal for the time being outstanding at the beginning of each such half-year and the balance of such half-yearly payment in reduction of such principal.

(b) By a payment at the end of the fifteenth year from the date of the borrowing of the said sum of a sum equal to the amount to which the principal has been reduced in accordance with the preceding paragraph (a) hereof after payment of the aforesaid thirty (30) half-yearly payments.

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

(T. 49/416/3.)

Order in Council varying the Determinations in respect of the Rotorua Borough Council’s Loan of £500 by prescribing Repayment over a Period of Fifteen Years.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 15th day of February, 1937.

Present :

THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the eighteenth day of March, 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 in New Zealand by the Rotorua Borough Council (hereinafter called “ the said local authority ”) of the sum of five hundred pounds (£500) by a loan to be known as “ Workers Dwelling (Abattoir) Loan, 1935 ” (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 thereof by prescribing repayment over a period of fifteen (15) years :