1352
THE NEW ZEALAND GAZETTE.
[No. 42

Varying the Determinations in respect of the Eastbourne Borough
Council’s Loan of £6,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 1st day
of June, 1938.

Present:

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

WHEREAS by Order in Council made on the seventeenth
day of November, 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 Eastbourne Borough Council
(hereinafter called “the said local authority”) of the sum of
six thousand pounds (£6,000) by a loan to be known as
“Omnibus Garage Loan, 1937” (hereinafter called “the
said loan”):

And whereas the authority conferred by the said Order in
Council has not been exercised, and it is expedient to vary
certain of the determinations aforesaid in respect of the said
loan of six thousand pounds (£6,000):

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 ten (10) years.

(2) In lieu of provision being made for the repayment of
the said loan by the annual redemption of debentures as
specified in clause three of the said Order in Council the said
loan shall be repaid as follows:—

(a) By twenty equal payments of two hundred and nine
pounds sixteen shillings and eightpence
(£209 16s. 8d.), 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 payment
in reduction of 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 said principal
has been reduced in accordance with the preceding
paragraph (a) hereof after payment of the aforesaid
twenty (20) half-yearly payments.

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

(T. 49/71/5.)

Varying the Determinations in respect of the Waima Electric-
power Board’s Loan of £3,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 1st day
of June, 1938.

Present:

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

WHEREAS by Order in Council made on the ninth day of
February, one thousand nine hundred and thirty-eight, and subject to the determinations as to borrowing
and repayment therein set out, consent was given to the
raising in New Zealand by the Waima Electric-power Board
(hereinafter called “the said local authority”) of the sum of
three thousand pounds (£3,000) by a loan to be known as
“Motueka District Supply and Reticulation 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 twenty-five (25) years specified
in clause one of the said Order in Council the term shall
be ten (10) years.

(2) In lieu of repayment as specified in clause three of the
said Order in Council the said loan shall be repaid as follows:—

(a) By twenty equal payments of one hundred and
four pounds eighteen shillings and fourpence
(£104 18s. 4d.), 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 payment in reduction of 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 said principal has
been reduced in accordance with the preceding
paragraph (a) hereof after payment of the aforesaid
twenty (20) half-yearly payments.

C. A. JEFFERY,
Clerk of the Executive Council

(T. 49/515/4.)

Varying the Determinations in respect of the Waima Electric-
power Board’s Loan of £65,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 1st day
of June, 1938.

Present:

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

WHEREAS by Order in Council made on the twenty-first day of January, 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 Waima Electric power Board (hereinafter called “the said local authority”) of the sum of sixty-five thousand pounds (£65,000) by a loan to be known as
“Reticulation Loan No. 2, 1936” (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 twenty-five (25) years specified
in clause one of the said Order in Council and the term shall
be ten (10) years.

(2) In lieu of provision being made for the repayment of
the said loan by the establishment of a sinking fund in respect
thereof as specified in clause three of the said Order in Council
the said loan shall be repaid as follows:—

(a) By twenty equal payments of two thousand two
hundred and seventy-three pounds three shillings
and ninepence (£2,273 3s. 9d.), 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 payment in
reduction of 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 said principal has been
reduced in accordance with the preceding paragraph
(a) hereof after payment of the aforesaid twenty (20)
half-yearly payments.

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

(T. 49/515/2.)