New Zealand Gazette – 1939 – No. 19

Page 713

✨ Loan Repayment Variations

Mar. 23.] THE NEW ZEALAND GAZETTE. 713

(b) By a payment at the end of the tenth year from the date of the raising of the said sum of a sum equal to the amount to which the principal of the said sum has been reduced in accordance with the preceding paragraph (a) hereof after payment of the aforesaid twenty (20) half-yearly payments.

SCHEDULE.

First Column.	Second Column.	Third Column.	Fourth Column.	Fifth Column.
Name of Local Authority.	Name of Loan.	Date of Consenting Order in Council and Amount thereby authorized.	Sum in respect of which Terms of Repayment are hereby varied.	Half-yearly Instalment.
Patea Borough Council	Water-supply Restoration and Extension Loan, 1937	21st December, 1937, £4,000	£ 3,800	£ s. d. 163 17 10
Patea Borough Council	Electric-light Extension and Improvement Loan, 1937	24th November, 1937, £4,000	3,850	134 12 10
Wanganui-Rangitikei Electric-power Board	Reticulation Extension Loan, 1938	26th October, 1938, £50,000	8,000	279 15 6

(T. 40/416/6.) C. A. JEFFERY, Clerk of the Executive Council.

Varying the Determinations in respect of Loans or Portions thereof being raised by certain Local Authorities.

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 by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans stated in the second column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council:

And whereas in respect of the amount of each such loan the sum specified in the fourth column of the said Schedule opposite such loan (hereinafter referred to as “the said sum”) has not yet been raised, and it is expedient to vary the determinations in respect of each such loan in so far as such determinations apply to the raising of the said sum:

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 in respect of each loan referred to in the Schedule hereto vary certain of the aforesaid determinations in respect of the raising of such loan in so far as such determinations apply to the raising of the said sum by prescribing that in lieu of repayment of the said sum as specified in the Order in Council authorizing the raising of such loan the said sum shall be repaid as follows:—

(a) By twenty equal payments of the amount stated in the fifth column of the said Schedule opposite such loan, one of such payments to be made at the end of every half-year commencing from the date on which the said sum is raised. 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 principal for the time being outstanding at the beginning of each half-year in respect of such sum, and the balance of such half-yearly payment in reduction of such principal.

SCHEDULE.

First Column.	Second Column.	Third Column.	Fourth Column.	Fifth Column.
Name of Local Authority.	Name of Loan.	Date of Consenting Order in Council and Amount thereby authorized.	Sum in respect of which Terms of Repayment are hereby varied.	Half-yearly Instalment.
Ashburton Electric-power Board	Special Loan, 1938	31st March, 1938, £50,000	£ 15,000	£ s. d. 524 11 8
Birkenhead Borough Council	Sewerage Loan, 1938	1st September, 1938, £8,000	3,000	104 18 4
Horowhenua Electric-power Board	Electrical Reticulation Loan, 1922, £260,000	10th January, 1939, £9,500	7,000	244 16 1
Franklin County Council	Roads and Bridges Loan, 1937, £100,000	15th December, 1937, £30,000	10,000	349 14 5
Rotorua Borough Council	Stormwater Drainage Loan, 1938	5th July, 1938, £7,310	7,300	255 5 11
Tauranga Borough Council	Mount Maunganui Waterworks Extension Loan, 1938	14th September, 1938, £5,700	4,000	139 17 9
Tauranga Borough Council	Otumoetai Waterworks Extension Loan, 1938	14th September, 1938, £4,600	4,100	143 7 9
Mauriceville County Council	Bridges Loan, 1938	26th October, 1938, £300	300	10 9 10
Taumarunui Borough Council	Electricity Loan, 1937	8th December, 1937, £14,000	3,000	104 18 4

(T. 40/416/6.) C. A. JEFFERY, Clerk of the Executive Council,

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VUW Te Waharoa — NZ Gazette 1939, No 19

NZLII — NZ Gazette 1939, No 19

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✨ LLM interpretation of page content

💰 Varying Loan Determinations for Certain Local Authorities (continued from previous page)

Domain💰 Finance & Revenue
Dated8 March 1939
KeywordsLoan variation, Local Authorities, Local Government Loans Board Act 1926, Repayment terms
👩‍💼 Officials

GALWAY, Governor-General
C. A. JEFFERY, Clerk of the Executive Council

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