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 said local authority of the said loan for the said purpose
to the amount of one hundred and eight thousand seven
hundred pounds (£108,700), and in giving such consent doth
hereby determine as follows:

(1) The term for which the said loan or any part thereof
may be raised shall not exceed fifteen (15) years.

(2) The rate of interest that may be paid in respect of the
said loan or any part thereof shall be such as shall not produce
to the lender or lenders a rate exceeding four pounds five
shillings (£4 5s.) per centum per annum.

(3) The said local authority shall, before raising the said
loan or any part thereof, make provision for the repayment
thereof by establishing a sinking fund under the Local Bodies’
Loans Act, 1926, or under such other statutory enactment as
may be applicable, and shall make payments to such sinking
fund at intervals of not more than one year at a rate or rates
per centum which shall be not less than five pounds four
shillings (£5 4s.), such payments to be made in respect of
every part of the said loan for the time being so borrowed
and not repaid, and the first such payment to be made not
later than one year after the first day from which interest
to the lender or lenders is computed on the said loan or any
part thereof so raised.

(4) The payment of interest and the repayment of principal
in respect of the said loan shall be made in New Zealand.

(5) No amount payable as either interest or sinking fund
in respect of the said loan shall be paid out of loan-moneys.

(6) The rate payable for brokerage, underwriting, and
procuration fees in respect of the raising of the said loan or
any part thereof shall not in the aggregate exceed one-half
per centum of any amount raised.

(7) 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. 49/254/31.)

Consenting to the Raising of a Loan of £310 by the Warkworth
Town Board and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 5th day of
July, 1939.
Present:
His Excellency the Governor-General in Council.

WHEREAS the Warkworth Town Board (hereinafter
called “the said local authority”) proposes, pursuant
to the provisions of section three of the Main Highways
Amendment Act, 1928, to borrow the sum of three hundred
and ten pounds (£310) by a loan to be known as “Main
Highways Loan, 1939” (hereinafter called “the said loan”),
for the purpose of paying its portion of the cost of certain
kerbing, channelling, and footpath work on the Birkenhead-
Maungatotoro State Highway:

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 by the said local authority of the said loan
for the said purpose up to the amount of three hundred and
ten pounds (£310), and in giving such consent doth hereby
determine as follows:

(1) The term for which the said loan or any part thereof
may be raised shall be six (6) years.

(2) The rate of interest that may be paid in respect of the
said loan 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 loan, together with interest thereon, shall be
repaid by equal aggregate annual instalments extending over
the term as determined in (1) above.

(4) 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. 49/328.)

Consenting to the Raising of a Loan of £6,000 by the Akaroa
County Council and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 5th day of
July, 1939.
Present:
His Excellency the Governor-General in Council.

WHEREAS the Akaroa County Council (hereinafter
called “the said local authority”) proposes, pursuant
to the provisions of section three of the Main Highways
Amendment Act, 1928, to borrow the sum of six thousand
pounds (£6,000) by a loan to be known as “Main Highways
Loan, 1939” (hereinafter called “the said loan”), for the
purpose of paying its portion of the cost of reconstructing
and sealing the Christchurch-Akaroa Main Highway:

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 by the said local authority of the said loan for
the said purpose up to the amount of six thousand pounds
(£6,000), and in giving such consent doth hereby determine
as follows:

(1) The term for which the said loan or any part thereof
may be raised shall be seven (7) years.

(2) The rate of interest that may be paid in respect of the
said loan 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 loan, together with interest thereon, shall be
repaid by equal aggregate annual instalments extending over
the term as determined in (1) above.

(4) 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. 49/404.)

Varying the Determinations in respect of Portion (£200,000)
of the Auckland Transport Board’s Loan of £500,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 5th day of
July, 1939.
Present:
His Excellency the Governor-General in Council.

WHEREAS by Order in Council made on the twentieth
day of July, one thousand nine hundred and thirty-
eight, 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 Transport Board
(hereinafter called “the said local authority”), of the sum
of five hundred thousand pounds (£500,000) by a loan to
be known as “Transport Consolidated Redemption Loan,
1938” (hereinafter called “the said loan”):

And whereas it was prescribed by the said Order in Council
that the term for which a portion thereof, viz., four hundred
thousand pounds (£400,000) may be raised shall not exceed
fifteen (15) years:

And whereas a portion, three hundred and ninety-five
thousand pounds (£395,000) of this sum of four hundred
thousand pounds (£400,000) has not yet been raised:

And whereas it is expedient to vary certain of the deter-
minations in respect of two hundred thousand pounds
(£200,000) (hereinafter called “the said sum”) of the
amount of three hundred and ninety-five thousand pounds
(£395,000) above referred to:

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 sum by prescribing as follows:

(1) In lieu of a term of fifteen (15) years specified in clause
one of the said Order in Council, the term for which the
said sum may be raised shall be ten (10) years.