1060
THE NEW ZEALAND GAZETTE.
[No. 28

authorities enabling him in this behalf, doth hereby vary the
determinations aforesaid in respect of the said sum by pre-
scribing as follows :—
(1) The term for which the said sum may be raised shall
be ten (10) years.
(2) The rate of interest that may be paid in respect of the
said sum 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 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 three
pounds ten shillings (£3 10s.), such payments to be made in
respect of every part of the said sum for the time being
raised and not repaid, the first such payment to be made not
later than one year from the first day from which interest to
the lender or lenders is computed on the said sum or any
part thereof so raised.

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

(T. 49/308/4.)

Order in Council varying the Determinations in respect of
Portion (£10,000) of the Waitemata Electric-power Board’s
Loan of £35,000.

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 December, 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 Waitemata Electric-
power Board (hereinafter called “the said local authority”)
of a loan of thirty-five thousand pounds (£35,000) being
portion of the “Reticulation Extension Loan, 1936,” of one
hundred thousand pounds (£100,000) :

And whereas the authority conferred by the said Order in
Council has not yet been exercised to the extent of ten
thousand pounds (£10,000), and it is expedient to vary the
determinations in respect of this sum (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 aforesaid 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 one
pounds fourteen shillings and tenpence (£301
14s. 10d.), one of such payments to be made at the
end of every half-year commencing from the date
on which the said sum is 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.

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

(T. 49/286/5.)

Order in Council varying the Determinations in respect of
Portion (£5,000) of the Bluff Harbour Board’s Loan of
£10,000.

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 December, 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 Bluff Harbour Board
(hereinafter called “the said local authority”) of the sum of
ten thousand pounds (£10,000) by a loan to be known as
“Water-supply Loan (No. 9), 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—five thousand
pounds (£5,000)—(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 aforesaid by prescribing that
in lieu of the establishment of a sinking fund in respect of the
said sum in accordance with the provisions of clause three of
the said Order in Council the said sum shall be repaid as
follows :—

(a) By nineteen equal payments of one hundred and fifty
pounds (£150) each, one of such payments to be
made at the end of every year commencing from
the date on which the said sum or any part thereof
is borrowed.
(b) By a payment at the end of the twentieth year com-
mencing from such date of a sum of two thousand
one hundred and fifty pounds (£2,150).

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

(T. 49/315/4.)

Varying the Determinations in respect of Portion (£10,000)
of the Central Waikato Electric-power Board’s Loan of
£12,500.

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-
second day of October, 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 Central Waikato
Electric-power Board (hereinafter called “the said local
authority”) of a portion—twelve thousand five hundred
pounds (£12,500)—of the “Special Loan, 1936,” of £50,000.

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

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 aforesaid in respect of the said
sum by prescribing as follows :—

(1) In lieu of the term of twenty (20) years specified in the
said Order in Council the term shall be fifteen (15) years.