APRIL 20.] THE NEW ZEALAND GAZETTE. 1153

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 19th day of April, 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.

(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.

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

Varying the Determinations in respect of the Auckland and Suburban Drainage Board’s Loan of £5,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 19th day of April, 1939.

Present:

His Excellency the Governor-General in Council.

WHEREAS by Order in Council made on the twenty-eighth day of February, one thousand nine hundred and thirty-nine, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Auckland and Suburban Drainage Board (hereinafter called “the said local authority”) of the sum of five thousand pounds (£5,000) by a loan to be known as “Loan No. 17, 1939” (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 in lieu of repayment by annual instalments of principal of not less than five hundred pounds (£500) each, the said loan, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the term of ten (10) years.

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

(T. 49/393/6.)

Varying the Determinations in respect of the Christchurch Tramway Board’s Loan of £20,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 5th day of April, 1939.

Present:

His Excellency the Governor-General in Council.

WHEREAS by Order in Council made on the twenty-eighth day of February, one thousand nine hundred and thirty-nine, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Christchurch Tramway Board (hereinafter called “the said local authority”) of the sum of twenty thousand pounds (£20,000) by a loan to be known as “Development and Improvement Loan, 1939” (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: