JAN. 26.] THE NEW ZEALAND GAZETTE. 75

Consenting to the Raising of Portion, £3,750, of a Loan of
£18,750 by the South Taranaki Electric-power Board 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 by Order in Council made on the twenty-
second day of October, one thousand nine hundred
and thirty-six, and subject to the determinations as to
borrowing and repayment therein set out, consent was given
to the raising by the South Taranaki Electric-power Board
(hereinafter called “the said local authority”) of the sum
of eighteen thousand seven hundred and fifty pounds
(£18,750) (hereinafter called “the said loan”):
And whereas the authority conferred by the said Order
in Council has not been exercised to the extent of three
thousand seven hundred and fifty pounds (£3,750) (hereinafter
called “the said sum”):
And whereas the authority has lapsed in accordance with
the provisions of clause (6) thereof and it is not now lawful
or competent for the said local authority to raise the said
sum except in accordance with the provisions of a further
Order in Council that may be issued pursuant to section
eleven of the Local Government Loans Board Act, 1926
(hereinafter called “the said Act”):
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
consent to the raising in New Zealand by the said local
authority of the said sum up to the amount of three thousand
seven hundred and fifty pounds (£3,750), and in giving such
consent doth hereby determine as follows:-
(1) The term for which the said sum or any part thereof
may be raised shall not exceed ten (10) years.
(2) The rate of interest that may be paid in respect of
the said sum or any part thereof shall be such as shall not
produce to the lender or lenders a rate exceeding three pounds
ten shillings (£3 10s.) per centum per annum.
(3) The said sum or any part thereof together with interest
on the outstanding balance thereof shall be repaid by equal
annual instalments of principal of not less than three hundred
and seventy-five pounds (£375) each, extending over the term
as determined in (1) above.
(4) The payment of such instalments and interest shall
be made in New Zealand and no such instalment or interest
shall be paid out of loan-money.
(5) The rate payable for brokerage, underwriting, and
procuration fees in respect of the borrowing of the said sum
or any part 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.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/474.)

Consenting to the Raising of the Balance, £30,000, of the Hawke’s
Bay Electric-power Board’s Loans of £300,000 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 by Orders in Council made on the twenty-
seventh day of January, one thousand nine hundred
and twenty-six, and the sixteenth day of October, one
thousand nine hundred and twenty-eight, consent was given
to the raising by the Hawke’s Bay Electric-power Board
(hereinafter called “the said local authority”) of the sums
of two hundred thousand pounds (£200,000) and one hundred
thousand pounds (£100,000) respectively (hereinafter called
“the said loans”), of which the amount of thirty thousand
pounds (£30,000) has not been borrowed :

And whereas by section nine of the Local Authorities
Interest Reduction and Loans Conversion Amendment Act,
1934, the consents given by the said Orders in Council were
revoked in so far as the authority conferred thereby had not
been exercised, and it is not now lawful or competent for the
said local authority to borrow moneys to which such consents
relate except in accordance with the provisions of an Order
in Council under section eleven of the Local Government
Loans Board Act, 1926 :
And whereas it is expedient to authorize the said local
authority to borrow on the conditions hereinafter mentioned
the sum of thirty thousand pounds (£30,000) (hereinafter
called “the said sum”), being the balance of the moneys
to which the said Orders in Council relate for the purpose of
further reticulation :
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, and by section nine of
the Local Authorities Interest Reduction and Loans Con-
version Amendment Act, 1934, and of all other powers and
authorities enabling him in this behalf, doth hereby consent
to the borrowing in New Zealand by the said local authority
of the said sum or any part thereof for the above purpose,
and in giving such consent doth hereby determine as follows :-
(1) The term for which the said sum or any part thereof
may be borrowed shall not exceed twenty-five (25) years.
(2) The rate of interest that may be paid in respect of the
said sum or any part thereof shall be such as shall not produce
to the lender or lenders a rate exceeding three pounds ten
shillings (£3 10s.) per centum per annum.
(3) The said sum or any part thereof, together with interest
thereon, shall be repaid by equal aggregate annual or half-
yearly instalments extending over the term of the loan as
determined in (1) above.
(4) The payment of such instalments shall be made in
New Zealand, and no such instalments shall be paid out of
loan-money.
(5) The rate payable for brokerage, underwriting, and
procuration fees in respect of the borrowing of the said sum
or any part 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.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/439.)

Consenting to the Raising of the Balance (£3,000) of the
Poverty Bay Electric-power Board's Loan of £68,000 and
prescribing the Conditions thereof.

GALWAY Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 17th day
of December, 1938.
Present:
THE RIGHT Hon. M. J. SAVAGE PRESIDING IN COUNCIL.
WHEREAS by Order in Council made on the twenty-
seventh day of April, one thousand nine hundred
and thirty-one, consent was given to the raising by the
Poverty Bay Electric-power Board (hereinafter called “the
said local authority”) of the sum of sixty-eight thousand
pounds (£68,000) by a loan to be known as “Extensions
Loan, 1930” (hereinafter called “the said loan”), of which
the sum of sixty-five thousand pounds (£65,000) has been
borrowed :
And whereas by section nine of the Local Authorities
Interest Reduction and Loans Conversion Amendment Act,
1934, the authority conferred by the said Order in Council
was revoked, in so far as it had not been exercised, and it is
not now lawful or competent for the said local authority to
borrow any moneys to which such Order in Council relates
except in accordance with the provisions of an Order in
Council that may be made under section eleven of the Local
Government Loans Board Act, 1926 :
And whereas the said local authority is desirous of borrowing
the balance, three thousand pounds (£3,000) (hereinafter
called “the said sum”), and it is expedient to authorize the
said local authority to borrow the said sum on the conditions
hereinafter mentioned :