1542
THE NEW ZEALAND GAZETTE.
[No. 37

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

(3) The said local authority may nevertheless contract
that upon default being made in payment of any such
instalment, the principal moneys represented by any in-
stalment to be subsequently due shall, at the option of
the holder or holders for the time being of the debenture
or debentures representing such instalment or instalments,
be deemed to be immediately payable with interest thereon
at the rate aforesaid pending payment.

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

(T. 49/267/17.)

Varying the Determinations in respect of the Rangitikei County
Council’s Loan of £4,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day
of May, 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 Rangitikei County Council
of the sum of four thousand pounds (£4,000) by a loan to be
known as “Workers’ Dwellings Loan, 1939” (hereinafter
called “the said loan”):

And whereas the authority conferred by the said Order
in Council has not 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 as follows:—

(1) In lieu of the term of five (5) years specified in clause
one of the said Order in Council, the term shall be ten (10)
years.

(2) In lieu of the said loan being repaid by equal annual
instalments of one thousand pounds (£1,000) each as specified
in clause three of the said Order in Council 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.

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

(T. 49/137/14.)

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 10th day of May, 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.