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 loans in accordance with the said determinations
(by which, inter alia, the rate of interest to be inserted in the
said debentures is limited to three pounds ten shillings (£3 10s.)
per centum) borrowing the said sums of one thousand nine
hundred and fifty pounds (£1,950) and five hundred and fifty
pounds (£550) 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 loans, 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 the whole of the said sums of
one thousand nine hundred and fifty pounds (£1,950) and
five hundred and fifty pounds (£550) had been raised on the
terms prescribed by the Orders in Council made on the twenty-
second day of October, one thousand nine hundred and
thirty-six, and the twenty-third day of December, one thousand
nine hundred and thirty-six, respectively.

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

(T. 49/661/1.)

Order in Council consenting to the Borrowing of Moneys by the
Petone and Lower Hutt Gas-lighting Board.

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

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Petone and Lower Hutt Gas-lighting
Board (hereinafter called “the said local authority”)
being desirous of borrowing the sum of thirty thousand and
nine pounds (£30,009) under the provisions of section thirty-
two of the Finance Act, 1927 (No. 2), by a loan to be known as
Manufacturing Plant Loan for the purpose of purchasing and
erecting a C.O.L. (Gas Chambers and Coke Ovens, Ltd., London)
gas-manufacturing plant, together with subsidiary plant, 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
borrowing as aforesaid:

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 other powers and authorities enabling him
in this behalf, doth hereby consent to the borrowing in New
Zealand of the said sum by the said local authority under the
said section thirty-two, and in giving such consent doth
hereby determine as follows:—

(1) Such borrowing may be from time to time, but the
term for which such moneys or any part thereof may be
borrowed shall not exceed twenty (20) years.

(2) The rate of interest payable from time to time shall
not exceed current bank overdraft rate of interest to best
customers.

(3) The moneys so borrowed shall be repaid from revenue
by the said local authority by annual payments of not less
than one thousand five hundred pounds (£1,500).

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

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

(T. 49/215/10.)

Order in Council consenting to the Raising of a Loan of
£15,000 by the Waitaki Electric-power Board and prescribing
the Conditions thereof.

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

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Waitaki Electric-power Board (herein-
after called “the said local authority”) being desirous
of raising the sum of fifteen thousand pounds (£15,000) by a
loan to be known as Extension Loan, 1936 (hereinafter called
“the said loan”), for the purpose of the construction of
additional transmission and distribution lines and sub-
stations and erection of all necessary equipment therefor,
and generally to exercise the Board’s rights and powers as
may be deemed expedient under the authority of the Electric-
power Boards Act, 1925, and amendments, and in respect of
which guarantees as described in the Electric Supply Regu-
lations, 1935, and amounting in each of five consecutive years
from the completion of the works to not less than fourteen
and two-thirds (14⅔) per cent. of the estimated capital
cost thereof have been obtained 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 sum for the said purpose
up to the amount of fifteen thousand pounds (£15,000), 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 be twenty-five (25) 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 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. 49/416/3.)

Order in Council consenting to the Raising of a Loan of £1,600
by the Ashburton County Council and prescribing the Con-
ditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 21st day of
January, 1937.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Ashburton 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
six hundred pounds (£1,600) by a loan to be known as “Main
Highways Loan, 1937” (hereinafter called “the said loan”),
for the purpose of meeting the Council’s share of the cost of
sealing a portion of the Ashburton Junction - Darfield - Arundel
Highway between Ashburton and Winchmore:

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,