710
THE NEW ZEALAND GAZETTE.
[No. 19

And whereas the said local authority, pending the raising
of the said loan in accordance with the said determinations,
is desirous of borrowing the said amount or part thereof by
hypothecation or mortgage pursuant to section thirty-four of
the Local Bodies’ Loans Act, 1926, of the debentures autho-
rized to be issued 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 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 loan in accordance with the said determinations,
borrowing the said amount or any part thereof by the hypothe-
cation 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 moneys borrowed
by the hypothecation or mortgage of the said debentures
shall, pending the raising of the said loan, be repaid by annual
amounts equivalent to the instalments of principal which
would have been repaid if on the first day on which any
moneys are borrowed by such hypothecation or mortgage
the whole of the said loan of five thousand pounds (£5,000)
had been raised on the terms prescribed by the said Order
in Council made on the twenty-eighth day of February, one
thousand nine hundred and thirty-nine.

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

(T. 49/393/6.)

Consenting to the Raising of a Loan of £5,106 by the Waitotara County Council and prescribing the Conditions thereof.

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 8th day of March, 1939.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Waitotara County Council (herein-
after 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
five thousand one hundred and six pounds (£5,106) by a
loan to be known as “Main Highways Loan, 1939”
(hereinafter called “the said loan”), for the purpose of
meeting the Council’s share of the cost of reconstructing
and sealing that portion of the Rapanui Highway within
the County :

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 by the said local authority
of the said loan for the said purpose up to the amount of
five thousand one hundred and six pounds (£5,106), 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 seven (7) 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, together with interest thereon, shall
be repaid by equal aggregate annual instalments extending
over the term as determined in (1) above.

(4) 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. 49/367.)

Consenting to the Raising of a Loan of £15,000 by the Taranaki Electric-power Board and prescribing the Conditions thereof.

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 8th day of March, 1939.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Taranaki 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 “Reticulation Loan,
1938” (hereinafter called “the said loan”), for the purpose
of further reticulating the Board’s district, 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 loan 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 not exceed twenty (20) 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 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 instalments 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 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. 40/191/6.)

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

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 15th day of March, 1939.

Present:

THE RIGHT HON. M. J. SAVAGE PRESIDING 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