New Zealand Gazette – 1939 – No. 4

Page 73

✨ Loan Approvals for Local Authorities

Jan. 26.] THE NEW ZEALAND GAZETTE. 73

The said local authorities shall, before raising the said respective loans or any parts thereof, make provision for the repayment thereof by establishing sinking funds under the Local Bodies’ Loans Act, 1926, or under such other statutory enactment as may be applicable in any respective case, and shall thereafter make payments to such sinking funds at intervals of not more than one year, at a rate or rates per centum which shall be not less than the respective rates stated in the Sixth Column of the said Schedule, such payments to be made in respect of every part of the said respective loans for the time being so borrowed and not repaid, the first such payment in each respective case to be made not later than one year after the first day from which interest to the lender or lenders is computed on any loan or part thereof so raised.
No amount payable as either interest or sinking fund in respect of the said loans shall be paid out of loan-moneys.
The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said respective loans or any parts thereof shall not in the aggregate exceed one-half per centum of any amount raised.
The payment of interest and repayment of principal in respect of the said loans shall be made in New Zealand.
No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE.

First Column. Name of Local Authority.	Second Column. Name of Loan.	Third Column. Amount of Loan. £	Fourth Column. Term of Loan (Years).	Fifth Column. Rate of Interest. £ s. d.	Sixth Column. Rate of Sinking Fund. £ s. d.
Matamata County Council	Tokoroa Memorial Hall Loan, 1938	350	10	3 10 0	8 10 0
Pahiatua Borough Council	Footpaths, Bridges, and Borough Improvements Loan, 1938	3,000	25	3 10 0	2 10 0
North Canterbury Electric-power Board	Amuri County Reticulation Loan, 1938	38,850	25	3 10 0	2 10 0
South Canterbury Electric-power Board	Electricity Development Loan, 1938	30,000	26	3 10 0	2 10 0
Auckland Harbour Board	Harbour Loan, 1937 £1,000,000. First Issue 1938, £200,000	200,000	20	3 10 0	3 10 0
Wellington City Council	Wellington City Drainage and Sewerage Loan, 1928, Renewal Loan, 1939	68,000	25	3 10 0	2 10 0
Nelson City Council	Electric Light and Antecedent Liability Renewal Loan, 1939	87,200	20	3 10 0	3 10 0
Te Kuiti Borough Council	Swimming Baths Loan, 1938	2,000	25	3 10 0	2 10 0

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

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 10th day of January, 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 authorities mentioned in the First Column of the said Schedule of the respective loans set out in the Second Column of the said Schedule, up to the respective amounts specified in the Third Column of the said Schedule, and in giving such consent doth hereby determine as follows:—

(1) The terms for which the said loans or any parts thereof may be raised shall be the respective terms (in years) stated in the Fourth Column of the said Schedule.

(2) The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per centum per annum stated in the Fifth Column of the said Schedule.

(3) The said respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the respective terms as determined in (1) above.

(4) The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.

(5) The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said respective loans or any parts 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.

SCHEDULE.

First Column. Name of Local Authority.	Second Column. Name of Loan.	Third Column. Amount of Loan. £	Fourth Column. Term of Loan (Years).	Fifth Column. Rate of Interest. £ s. d.
Heathcote County Council	Cashmere Recreation Loan, 1938	3,800	10	3 10 0
Horowhenua Electric-power Board	Electrical Reticulation Supplementary Loan, 1938	26,000	25	3 10 0
Sumner Borough Council	Valley Sewerage-connections Loan, 1938	2,600	7	3 10 0
Waimakariri-Ashley Water-supply Board.	Warren Syphon Loan, 1938	1,600	25	3 10 0

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

PDF embedding disabled (Crown copyright)

View this page online at:

VUW Te Waharoa — NZ Gazette 1939, No 4

NZLII — NZ Gazette 1939, No 4

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

💰 Consent to Raising Loans by Local Authorities (continued from previous page)

Domain💰 Finance & Revenue
Dated10 January 1939
KeywordsLoan approval, Local Authorities, Schedule
👩‍💼 Officials

C. A. Jeffery, Clerk of the Executive Council

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

Domain💰 Finance & Revenue
Dated10 January 1939
KeywordsLoan approval, Local Authorities, Schedule
👩‍💼 Officials

C. A. Jeffery, Clerk of the Executive Council

As the Gazette has been published for more than 185 years, copyright status depends on the publication date of each issue:

1840–1925 (Public Domain): Issues of the New Zealand Gazette and Provincial Gazettes from this period are in the public domain, as the term of Crown copyright (100 years) has expired. Mechanical reproductions (e.g., scanned PDFs) of these public domain documents do not attract new copyright.
1926–1999 (Crown Copyright): Issues from this period remain subject to Crown copyright. Usage of these issues in this project is "Fair Dealing" for research purposes and consistent with the spirit of the open-access principles championed by NZGOAL, ie, "The default licensing position under ... NZGOAL is the Creative Commons Attribution 4.0 International licence ... [t]o the greatest extent possible, agencies should apply this licence to copyright material on their websites"
2000–Present (CC-BY 3.0 NZ): Gazette issues published on gazette.govt.nz are Crown copyright but are explicitly licensed by the Department of Internal Affairs under the Creative Commons Attribution 3.0 New Zealand licence (CC-BY 3.0 NZ). This project redistributes this content in accordance with those terms.

Nothing in this project is intended to infringe copyright, trademark law or personal privacy. Please contact me immediately if you have any concerns.

Third-Party Content

Where third-party content (e.g., notices submitted by external organisations) is identified within the Gazette, users should satisfy themselves regarding the copyright status of that specific content, as it may be subject to different ownership terms than the Gazette itself.

Sources and Attribution

NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
Gazette.govt.nz, Crown copyright / licensed by the Department of Internal Affairs under CC-BY 3.0 NZ
- Issues from 2000-2017

Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

PDF Icon

The PDF PDF Icon was made by Good Ware, CC BY-SA 4.0.

Masthead

The logo in the header is an edited version of “Winning Coat of Arms Competition Entry, 1908” by Archives New Zealand, CC BY 2.0 (found via Wikipedia).

Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.