1254
THE NEW ZEALAND GAZETTE.
[No. 29
pounds (£50,000) and eighty thousand pounds (£80,000)
respectively, being portions of a loan of £200,000 known
as “Special Loan, 1938”:
And whereas the authority conferred by the said Order
in Council of the twenty-second day of June, one thousand
nine hundred and thirty-eight, has not yet been exercised
to the extent of eight thousand pounds (£8,000), and whereas
the authority conferred by the said Order in Council of the
twenty-eighth day of February, one thousand nine hundred
and thirty-nine, has not yet been exercised :
And whereas the said local authority is desirous of raising
the sum of thirty-five thousand pounds (£35,000) (hereinafter referred to as “the said sum”), being the balance,
eight thousand pounds (£8,000), of the sum of £50,000 and
portion, twenty-seven thousand pounds (£27,000), of the sum
of £80,000, and it is expedient to vary the determinations
aforesaid in respect 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 vary the determinations in respect
of the said sum by prescribing as follows :—
(1) In lieu of the term of twenty-five (25) years specified
in clause one of the said Orders in Council, the term shall
be ten (10) years.

(2) In lieu of provision being made for repayment of
the said sum by the establishment of a sinking fund in respect
thereof, as specified in clause three of the said Orders in
Council, the said sum shall be repaid as follows :—
(a) The said sum shall be free of principal repayments
during the first two (2) years from the date of the
borrowing of the said sum.
(b) Thereafter the said sum shall be repaid by sixteen
equal payments of one thousand two hundred and
twenty-four pounds and fivepence (£1,224 0s. 5d.),
one of such payments to be made at the end
of every half-year commencing two years 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 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 such principal.
(c) By a payment at the end of the tenth year from the
date of the borrowing of the said sum of a sum
equal to the amount to which the principal has
been reduced in accordance with the preceding
paragraph (b) hereof after payment of the afore-
said sixteen (16) half-yearly payments.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/664.)

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 con-
ferred 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.
First Column.
Name of Local Authority.
Second Column.
Name of Loan.
Third Column.
Date of Consenting Order in
Council and Amount thereby
authorized.
Fourth Column.
Sum in respect
of which Terms
of Repayment
are hereby
varied.
Fifth
Column.
Half-yearly
Instalment.
Central Hawke’s Bay Electric-power Board
Reticulation Loan, 1938 ..
17th December, 1938, £25,000
10,000
£ s. d.
349 14 5
Grey Hospital Board ..
Alterations and Additions Loan, 1939
8th September, 1937, £24,555
24,555
858 14 9
Waitaki Electric-power Board .. Extension Loan, 1939 ..
29th March, 1939, £15,000
10,000
349 14 5
Waimakariri-Ashley Water-supply Board
Warren Syphon Loan, 1938
10th January, 1939, £1,600
1,600
55 19 1
Wanganui-Rangitikei Electric-power Board
Reticulation Extension Loan, 1938
26th October, 1938, £50,000
12,000
419 13 4
(T. 40/416/6.)
C. A. JEFFERY, Clerk of the Executive Council.