1058

THE NEW ZEALAND GAZETTE.

[No. 28

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
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 sum in accordance with the said deter-
minations, borrowing the said sum of twenty-eight thousand
pounds (£28,000) 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 money borrowed by
the hypothecation or mortgage of the said debentures shall,
pending the raising of the said sum, be repaid by annual
instalments of not less than one thousand five hundred
pounds (£1,500), the first such instalment to be paid not
later than one year from the first date on which any moneys
are borrowed by such hypothecation or mortgage.

A. W. MULLIGAN,
Acting Clerk of the Executive Council.

(T. 49/512/4.)

Order in Council authorizing the Borrowing by the Tauranga
Hospital Board by way of Hypothecation of Debentures
issued in respect of a Loan of £7,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 23rd day of
April, 1937.

Present :

THE HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the twenty-third
day of April, one thousand nine hundred and thirty-
seven, consent was given to the raising in New Zealand by
the Tauranga Hospital Board (hereinafter called “the said
local authority”) of the sum of seven thousand pounds
(£7,000) by a loan to be known as “Building Loan, 1937”
(hereinafter called “the said loan”), such consent being
given subject to the determinations as to borrowing and
repayment therein set out (including, inter alia, the provision
that the rate of interest that might be paid in respect of the
said loan or any part thereof should be such as should not
produce to the lender or lenders a rate or rates exceeding
three pounds ten shillings (£3 10s.) per centum per annum :

And whereas the said local authority, pending the raising
of the said loan in accordance with the said determinations,
is desirous of borrowing the said sum or part thereof by hypo-
thecation 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 sum in accordance with the
said determinations, borrowing the said loan of seven thousand
pounds (£7,000) 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 money borrowed by
the hypothecation or mortgage of the said debentures shall,
pending the raising of the said loan, be repaid by annual
amounts equivalent to the instalments of principal which
would have been repaid if on the first date on which any
moneys are borrowed by such hypothecation or mortgage
the whole of the said loan of seven thousand pounds (£7,000)
had been raised on the terms prescribed by the Order in
Council made on the twenty-third day of April, one thousand
nine hundred and thirty-seven.

A. W. MULLIGAN,
Acting Clerk of the Executive Council.

(T. 49/313/3.)

Order in Council consenting to the Raising of a Loan of £7,000
by the Tauranga Hospital Board and prescribing the
Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 23rd day of
April, 1937.

Present :

THE HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS the Tauranga Hospital Board (hereinafter
called “the said local authority”) being desirous of
raising the sum of seven thousand pounds (£7,000) by a loan
to be known as “Building Loan, 1937” (hereinafter called
“the said loan”), for the purpose of carrying out additions to
the main wards and the Nurses’ Home at Tauranga Hospital,
and the erection of a shelter for tuberculosis patients, and
for alterations and additions to the Te Puke Hospital, 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 seven thousand pounds (£7,000), 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 fifteen (15) 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 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.

A. W. MULLIGAN,
Acting Clerk of the Executive Council.

(T. 49/313/3.)

Order in Council consenting to the Raising of the Balance
(£24,000) of the Grey Hospital Board’s Loan of £29,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 9th day of
April, 1937.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS by Order in Council made on the third day
of December, one thousand nine hundred and
thirty-four, and subject to the determinations as to borrow-
ing and repayment therein set out, consent was given to
the raising by the Grey Hospital Board (hereinafter called
“the said local authority”) of an amount of twenty-nine
thousand pounds (£29,000) by a loan to be known as
“Alterations and Additions Loan, 1934,” of which amount
the sum of twenty-four thousand pounds (£24,000) has not
yet been raised :

And whereas it is provided by clause seven of the said
Order in Council of the third day of December, one thousand
nine hundred and thirty-four, that no moneys shall be
borrowed under the authority of the said Order in Council
after the expiration of two (2) years from the date thereof,
and it is not now lawful or competent for the said local
authority to borrow any moneys to which the said Order in
Council relates except in accordance with the provisions of
an Order in Council that may be made under section eleven
of the Local Government Loans Board Act, 1926 :