2612
THE NEW ZEALAND GAZETTE.
[No. 78

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 loan :
And whereas the said local authority is desirous of raising
the two amounts as one loan of three thousand eight hundred
and fifty pounds (£3,850) (hereinafter called “ the said loan ”),
and it is expedient that the terms of the said loan be deter-
mined accordingly :
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 three thousand eight hundred and fifty
pounds (£3,850), 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 or rates exceeding three pounds
ten shillings (£3 10s.) per centum per annum.
(3) The said loan, together with interest thereon, shall be
repaid as follows :—
(a) By twenty (20) equal payments of one hundred and
thirty-four pounds twelve shillings and tenpence
(£134 12s. 10d.), one of such payments to be made
at the end of every half-year commencing from the
date on which the said loan 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 pay-
ment in reduction of such principal.
(b) By a payment at the end of the tenth year from the
date of the borrowing of the said loan 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 afore-
said twenty (20) half-yearly payments.
(4) The payment of such instalments shall be made in New
Zealand, and no such instalment shall be paid out of loan-
money.
(5) The rate payable for brokerage, underwriting, and pro-
curation fees in respect of the borrowing 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.

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

(T. 49/130/8.)

—

Varying the Determinations in respect of the Roxburgh Borough
Council’s Loan of £5,500.

—

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 24th day of
November, 1937.

Present :

THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the fifteenth
day of July, 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 Roxburgh Borough Council (herein-
after called “ the said local authority ”) of the sum of five
thousand five hundred pounds (£5,500) by a loan to be known
as “Sewerage and Drainage Loan, 1937” (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 certain of the determinations aforesaid 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 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 loan by prescribing as follows :—
(1) In lieu of the term of thirty (30) 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 one hundred and sixty-
five pounds nineteen shillings and twopence
(£165 19s. 2d.), 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 pay-
ment of interest computed at the rate of three pounds
ten shilling (£3 10s.) per centum per annum on the
amount of the principal for the time being out-
standing at the beginning of each such half-year,
and the balance of such half-yearly payment in
reduction of 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 said principal has been
reduced in accordance with the preceding para-
graph (a) hereof after payment of the aforesaid
thirty (30) half-yearly payments.

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

(T. 49/453/7.)

—

Portions of Bridge and Aglionby Streets, in the Borough of
Lower Hutt, exempted from the Provisions of Section 128 of
the Public Works Act, 1928, subject to a Condition as to
the Building-line.

—

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 24th day
of November, 1937.

Present :

THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

IN pursuance and exercise of the powers 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 approve of the following
resolution passed by the Lower Hutt Borough Council on
the eighth day of November, one thousand nine hundred
and thirty-seven, viz. :—

“ The Lower Hutt Borough Council, being the local
authority having control of the streets in the Borough of
Lower Hutt, by resolution declares that the provisions of
section one hundred and twenty-eight of the Public Works
Act, 1928, shall not apply to those portions of the streets
known as Aglionby and Bridge Streets adjoining Lots
1 and 2, D.P. 8554 ” ;

subject to the condition that no building or part of a building
shall at any time be erected on the land fronting the south-
western side of the portion of Bridge Street or the north-
western side of the portion of Aglionby Street (described in
the Schedule hereto) within a distance of thirty-three feet
from the centre-lines of the said portions of streets.

—

SCHEDULE.

THE south-western side of all that portion of street, situated
in the Wellington Land District, Borough of Lower Hutt,
known as Bridge Street, fronting Lot 1, D.P. 8554.

Also the north-western side of all that portion of street in
the said land district and city known as Aglionby Street,
fronting Lots 1 and 2, D.P. 8554.

As the same are more particularly delineated on the plan
marked P.W.D. 97067, deposited in the office of the Minister
of Public Works at Wellington, and thereon coloured red.

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

(P.W. 51/2226.)