2142
THE NEW ZEALAND GAZETTE.
[No. 63

Consenting to stopping Portions of Road in Block VIII,
Hukerenui Survey District, Whangarei County.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 8th day of
September, 1937.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

IN pursuance and exercise of the powers and authorities
conferred by the Public Works Act, 1928, and of all
other powers in anywise enabling him in this behalf, 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, doth hereby consent
to the Whangarei County Council stopping the portions of
road described in the Schedule hereto.

SCHEDULE.
APPROXIMATE areas of the pieces of road permitted to be
stopped:—

A. B. P.
0 2 18 { Adjoining or passing through Section 24,
2 1 33 \ Block VIII, Hukerenui Survey District
(Auckland B.D.). (S.O. 28513.)

In the North Auckland Land District: as the same are
more particularly delineated on the plan marked P.W.D.
96834, deposited in the office of the Minister of Public Works
at Wellington, and thereon coloured green.

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

(P.W. 33/1862.)

Authorizing the Borrowing by the Grey Hospital Board by way
of Hypothecation of Debentures issued in respect of a Loan
of £24,555.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 8th day of
September, 1937.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS by Order in Council made on the eighth day
of September, one thousand nine hundred and thirty-
seven, consent was given to the raising in New Zealand by
the Grey Hospital Board (hereinafter called “the said local
authority”) of the sum of twenty-four thousand five hundred
and fifty-five pounds (£24,555), 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 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 autho-
rized 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 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 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 sum of twenty-four thousand
five hundred and fifty-five pounds (£24,555) had been raised
on the terms prescribed by the said Order in Council made on
the eighth day of September, one thousand nine hundred and
thirty-seven.

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

(T. 49/590/1.)

Consenting to the Raising of a Loan of £24,555 by the Grey
Hospital Board and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 8th day of
September, 1937.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS by Order in Council made on the eighteenth
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 Grey Hospital Board (herein-
after called “the said local authority”) of the sum of one
thousand pounds (£1,000) by a loan to be known as
“Alterations and Additions Loan, 1934, No. 2”: And
whereas the authority conferred by the said Order in Council
has not yet been exercised:

And whereas by Order in Council made on the ninth day
of April, 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 said local authority of the sum of twenty-four thousand
pounds (£24,000) being the balance of the “Alterations and
Additions Loan, 1934,” of £29,000: And whereas a portion
thereof, being a sum of fourteen thousand pounds (£14,000),
has not yet been raised:

And whereas by Order in Council made on the twenty-
eighth day of May, 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
by the said local authority of the sum of nine thousand five
hundred and fifty-five pounds (£9,555) by a loan to be known
as “Alterations and Additions Supplementary Loan, 1937”:
And whereas by a further Order in Council made on the said
twenty-eighth day of May, one thousand nine hundred and
thirty-seven, consent was given to the borrowing of the said
sum of nine thousand five hundred and fifty-five pounds
(£9,555) or part thereof by way of hypothecation under
section thirty-four of the Local Bodies’ Loans Act, 1926:
And whereas the authorities conferred by the said Orders in
Council of the twenty-eighth day of May, one thousand nine
hundred and thirty-seven, have not yet been exercised:

And whereas the said local authority is desirous of raising
the said sums of one thousand pounds (£1,000), fourteen
thousand pounds (£14,000), and nine thousand five hundred
and fifty-five pounds (£9,555), in one sum of twenty-four
thousand five hundred and fifty-five pounds (£24,555) (here-
inafter called “the said sum”), and it is expedient to authorize
the said local authority to raise the said sum on the conditions
hereinafter mentioned:

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 borrowing in New Zealand by the said local authority of
the said sum or any part thereof for the purposes for which
the said sum was authorized, and in giving such consent doth
hereby determine as follows:—

(1) The term for which the said sum or any part thereof
may be raised shall be twenty (20) years.

(2) The rate of interest that may be paid in respect of the
said sum 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 sum 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 borrowing of the said sum
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. 49/590/1.)