2442
THE NEW ZEALAND GAZETTE.
[No. 73

SCHEDULE.

(T. 40/416/6.)
C. A. JEFFERY, Clerk of the Executive Council.

Consenting to the Raising of a Loan of £39,500 by the Wellington City Council and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 3rd day of November, 1937.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Wellington City Council (hereinafter called “the said local authority”) being desirous of raising the sum of thirty-nine thousand five hundred pounds (£39,500) to be known as “Wellington City Milk Supply Loan, 1933, Renewal Loan, 1938” (hereinafter called “the said loan”), for the purpose of repaying the amount of the Milk Supply Loan, 1933, which matures on the thirty-first March, one thousand nine hundred and thirty-eight, and which is not provided for by the accumulated sinking funds, 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 up to the amount of thirty-nine thousand five hundred pounds (£39,500), 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 be ten (10) 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 local authority shall, before raising the said loan or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act, 1926, or under 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 which shall be not less than two pounds nineteen shillings (£2 19s.) per centum, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on any amount so raised.

(4) No amount payable as either interest or sinking fund in respect of the said loan shall be paid out of loan-money.

(5) The rate payable for brokerage, underwriting, and procurement 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) The payment of interest and repayment of principal in respect of the said loan shall be made in New Zealand.

(7) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

(8) That the proceeds from the sale of the old milk station premises in Dixon Street are to be applied as follows :—

(a) Not more than eleven thousand pounds (£11,000) to the repayment of the overdraft (if any) of the City Milk Department owing at the date of sale.

(b) The balance to be applied in redemption of this loan or to be paid into the sinking fund.

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

(T. 49/168/59.)

Consenting to the Raising of a Loan of £1,025 by the Rangiora County Council and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 27th day of October, 1937.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Rangiora County Council (hereinafter called “the said local authority”) proposes, pursuant to the provisions of section three of the Main Highways Amendment Act, 1928, to borrow the sum of one thousand and twenty-five pounds (£1,025) by a loan to be known as “Main Highways Loan, 1937” (hereinafter called “the said loan”), for the purpose of meeting its share of the cost of erecting the Ashley River Bridge :

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 raising by the said local authority of the said loan for the said purpose up to the amount of one thousand and twenty-five pounds (£1,025), 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 be five (5) 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 together with interest thereon shall be repaid by equal aggregate annual instalments extending over the term as determined in (1) above.

(4) 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. 49/467.)

Increasing Borrowing-powers of Gisborne Fire Board.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 3rd day of November, 1937.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS it is provided by section thirty-one of the Fire Brigades Act, 1926 (hereinafter called “the said Act”), that the Governor-General in Council may, on the application of any Fire Board established under the Fire Brigades Act, 1926, extend the powers of that Board to borrow moneys in excess of the limits fixed by the said section :

And whereas by Order in Council dated the twenty-fourth day of February, one thousand nine hundred and thirty-seven, and published in the Gazette on the twenty-fifth day of February, one thousand nine hundred and thirty-seven, at page 449, the powers of the said Gisborne Fire Board were extended, but not so as to exceed the sum of thirteen thousand pounds :

And whereas application has been made by the said Gisborne Fire Board for further extension of borrowing-powers, and it is desirable to grant such request :