316
THE NEW ZEALAND GAZETTE.
[No. 13

with the provisions of a further Order in Council that may
be issued pursuant to section eleven of the Local Government
Loans Board Act, 1926 (hereinafter called “the said Act”);
And whereas by Order in Council made on the eighth day
of March, 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 by the said
local authority of the sum of ten thousand pounds (£10,000);
And whereas the authority conferred by the said Order
in Council of the eighth day of March, one thousand nine
hundred and thirty-eight, has not yet been exercised:
And whereas the said local authority is desirous of raising
the two sums of twenty-six thousand pounds (£26,000) and
ten thousand pounds (£10,000) as one sum of thirty-six
thousand pounds (£36,000) (hereinafter called “the said
sum”), and it is expedient to authorize the said local
authority to raise the said sum subject to the determinations
hereinafter set forth:
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 in New Zealand by the said local authority
of the said sum up to the amount of thirty-six thousand
pounds (£36,000), and in giving such consent doth hereby
determine as follows :—
(1) The term for which the said sum or any part thereof
may be raised shall not exceed eighteen (18) years.
(2) The rate of interest that may be paid in respect of
the said sum 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 sum or any part thereof, together with
interest on the outstanding balance thereof, shall be repaid
by equal annual instalments of principal of not less than
two thousand pounds (£2,000) each, extending over the term
as determined in (1) above.
(4) The payment of such instalments and interest shall be
made in New Zealand and no such instalment or interest
shall be paid out of loan-money.
(5) The rate payable for brokerage, underwriting, and
procuration fees in respect of the borrowing of the said sum
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. 49/439.)

Consenting to the Raising of Loans of £3,300 and £2,000 by the Waipa County Council and prescribing the Conditions
thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 21st day of February, 1939.
Present:
THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS the Waipa County Council being desirous of raising the loans set out in the First Column of the
Schedule hereto 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 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 said local authority of the loans set out in the First Column of the said Schedule, up to the
respective amounts specified in the Second 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 Third 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 Fourth Column of the said Schedule.
3. The said loans or any parts thereof together with interest thereon shall be repaid by equal aggregate annual or
   half-yearly instalments extending over the respective terms as determined in (1) above.
4. The payment of such instalments shall be made in New Zealand and no such instalment shall be paid out
   of loan-moneys.
5. The rate payable for brokerage, underwriting, and procuration 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. 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. 40/155/52 and 53.)