APRIL 8.]

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 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 seven of the Local Authorities
Interest Reduction and Loans Conversion Act, 1932–33, and
by section eight of the Local Authorities Interest Reduction
and Loans Conversion Amendment Act, 1933, 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 loan in accordance with the said deter-
minations (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 two thousand pounds (£2,000) 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 hereby prescribes that the said
local authority shall, before the said loan 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 one of the aforesaid Order in Council of the
sixth day of January, one thousand nine hundred and thirty-
seven, and in all respects as if such borrowing of the said
sum of two thousand pounds (£2,000) by way of hypothe-
cation were the raising of a loan within the meaning of that
clause.
A. W. MULLIGAN,
Acting Clerk of the Executive Council.
(T. 49/415/6.)
Order in Council consenting to the Borrowing of Moneys by
the Opunake Electric-power Board by way of Bank Overdraft.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
March, 1937.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Opunake Electric-power Board (hereinafter
called “the said local authority”) being
desirous of borrowing moneys by way of bank overdraft
under the provisions of section seven of the Local Bodies’
Finance Act, 1921–22, has complied with the provisions of
the Local Government Loans Board Act, 1926 (hereinafter
called “the said Act”), and it is expedient that the pre-
cedent consent of the Governor-General in Council as re-
quired 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 under the said section seven, and in
giving such consent doth hereby determine as follows:—
(1) Such borrowing may be from time to time by way of
bank overdraft.
(2) The rate of interest payable from time to time shall
not exceed the current bank overdraft rate 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-seven.
(4) The total amount owing (including unpaid interest, if
any) of moneys borrowed under this consent shall not on
the thirty-first day of March, one thousand nine hundred and
thirty-seven, exceed the sum of eight hundred and fifty
pounds (£850).
(5) The moneys borrowed as herein authorized shall be
repaid from the revenue of the said local authority during
the financial year ending on the thirty-first day of March,
one thousand nine hundred and thirty-eight.
A. W. MULLIGAN,
Acting Clerk of the Executive Council.
(T. 49/116.)
B

Order in Council consenting to the Advancing by the Matamata
County Council of the Sum of £3,600 out of its General
Fund and prescribing the Conditions thereof.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
March, 1937.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Matamata County Council (hereinafter
called “the said local authority”) proposes to
undertake certain capital works—namely, enlarging and
reconstructing the Tirau Water-supply Reticulation System
—for the benefit of a defined portion of its district to be
known as the Tirau Township Special-rating Area:
And whereas the said local authority being desirous, in
lieu of raising the moneys by special loan for such works, of
advancing the sum required therefor—namely, three thou-
sand six hundred pounds (£3,600) (hereinafter called “the
said sum”) out of its General Fund pursuant to the provisions
of section forty-five of the Finance Act, 1933 (No. 2)—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 advancing 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 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 be-
half, doth hereby consent to the advancing by the said
local authority out of its General Fund, pursuant to the pro-
visions of section forty-five of the Finance Act, 1933 (No. 2),
for the particular benefit of the ratepayers of the said Tirau
Township Special-rating Area of the said sum or any part
thereof, and in giving such consent doth hereby determine
that the moneys so advanced, together with interest thereon
at such rate not exceeding three pounds ten shillings (£3 10s.)
per centum per annum as the said local authority shall from
time to time determine, shall be recouped to the General
Fund by equal annual installments extending over a period
not exceeding twenty-five (25) years.
A. W. MULLIGAN,
Acting Clerk of the Executive Council.
(T. 49/129/8.)
Order in Council consenting to the Borrowing of Moneys by
the Waitotara County Council by way of Bank Overdraft.
GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 31st day of
March, 1937.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Waitotara County Council (hereinafter
called “the said local authority”) being desirous of
borrowing moneys by way of bank overdraft under the
provisions of section seven of the Local Bodies’ Finance Act,
1921–22, 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 of
moneys by the said local authority under the said section
seven, and in giving such consent doth hereby determine as
follows:—
(1) Such borrowing may be from time to time by way of
bank overdraft.