APRIL 13.] THE NEW ZEALAND GAZETTE. 955

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 exercise of the powers and authorities conferred upon him by section seventeen of the Public Reserves, Domains, and National Parks Act, 1928, doth hereby vest the control of the said reserve in the Opotiki County Council.

SCHEDULE.

GISBORNE LAND DISTRICT.

SECTION 2A, Block III, Urutawa Survey District: Area, 13 acres 0 roods 32 perches, more or less.

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

(L. and S. 5271.)

Vesting Portion of a Reserve in the Waitemata County Council.

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 4th day of April, 1938.

Present:

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

WHEREAS the land described in the Schedule hereto forms portion of a reserve duly set apart for a public landing reserve: And whereas in the opinion of the Governor-General, it is expedient to vest the said portion of the reserve in the Chairman, Councillors, and Inhabitants of the County of Waitemata:

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 exercise of the powers and authorities conferred upon him by section nine of the Public Reserves, Domains, and National Parks Act, 1928, doth hereby declare that from and after the day of the date hereof, the portion of the reserve described in the Schedule hereto shall become vested in the Chairman, Councillors, and Inhabitants of the County of Waitemata, in trust, for a public landing reserve.

SCHEDULE.

NORTH AUCKLAND LAND DISTRICT.

ALL that area in the Waitemata County containing by admeasurement 30 perches, more or less, being portion of Allotment 30, Okura Parish, bounded, Commencing at a point on the northern side of a public road, bearing 60° 16′ and distant 100 links from the south-eastern corner of Allotment 31, Okura Parish; thence by right lines bearing 335° 23′, distance 117·16 links; bearing 65° 20′, distance 167·3 links; bearing 150° 16′, distance 101·8 links to a public road; and thence along the aforesaid public road bearing 240° 16′, distance 177·06 links, to the point of commencement. Be all the aforesaid admeasurements a little more or less. As the same is more particularly delineated on the plan marked L. and S. 22/3630/67B, deposited in the Head Office, Department of Lands and Survey, at Wellington, and thereon bordered red. (North Auckland plan 29161.)

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

(L. and S. 22/3630/67.)

Consenting to the Raising of Loans by certain Local Authorities and prescribing the Conditions thereof.

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 31st day of March, 1938.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans stated opposite their names therein, have respectively 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 loans:

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 respective local authorities mentioned in the First Column of the said Schedule of the respective loans set out in the Second Column of the said Schedule, up to the respective amounts specified in the Third Column of the said Schedule, and in giving such consent doth hereby determine as follows:—

1. The terms for which the said loans or any parts thereof may be raised shall be the respective terms (in years) stated in the Fourth Column of the said Schedule.

2. The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per centum per annum stated in the Fifth Column of the said Schedule.

3. The said local authorities shall, before raising the said respective loans or any parts thereof, make provision for the repayment thereof by establishing sinking funds under the Local Bodies’ Loans Act, 1926, or under such other statutory enactment as may be applicable in any respective case, and shall thereafter make payments to such sinking funds at intervals of not more than one year, at a rate or rates per centum which shall be not less than the respective rates stated in the Sixth Column of the said Schedule, such payments to be made in respect of every part of the said respective loans for the time being so borrowed and not repaid, the first such payment in each respective case to be made not later than one year after the first day from which interest to the lender or lenders is computed on any loan or part thereof so raised.

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

5. The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said respective loans or any parts 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 loans 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.

SCHEDULE.

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

(T. 40/416/6.)