3728

SCHEDULE.

WESTLAND LAND DISTRICT.

ALL that area containing 23 acres 3 roods 20 perches, more or less, being portion of Reserve 1622 (provisional State forest), situated in Block VI, Kaniere Survey District, and bounded as follows: On the north and north-east by the Kaniere Lake Road; on the south and south-west by the right bank of the Kaniere River; on the west by a river-bank reserve and Section 3182, Block VI, Kaniere Survey District. As the same is more particularly delineated on plan marked L. and S. X/98/105A, deposited in the Head Office, Department of Lands and Survey, at Wellington, and thereon bordered red.

Given under the hand of His Excellency the Governor-General of the Dominion of New Zealand, and issued under the Seal of that Dominion, this 13th day of December, 1940.

D. WILSON,
For the Minister of Lands.

GOD SAVE THE KING!
(L. and S. X/98/105.)

Land subject to the Housing Act, 1919, declared Crown Land available for Reservation under the Land Act, 1924.

[L.S.] GALWAY, Governor-General.

A PROCLAMATION.

IN pursuance and exercise of the power and authority conferred upon me by subsection one of section eight of the Housing Amendment Act, 1940, I, George Vere Arundell, Viscount Galway, Governor-General of the Dominion of New Zealand, do hereby proclaim and declare the land described in the Schedule hereto, being land subject to the Housing Act, 1919, to be Crown land available for reservation under the Land Act, 1924.

SCHEDULE.

HAWKE'S BAY LAND DISTRICT.

ALL that area containing by admeasurement 38·85 perches, more or less, situated in the Borough of Waipukurau, being part Block 16, Waipukurau Crown Grant District, and being all the land marked Reserve on Survey Office plan 1918, red.

Given under the hand of His Excellency the Governor-General of the Dominion of New Zealand, and issued under the Seal of that Dominion, this 13th day of December, 1940.

D. WILSON,
For the Minister of Lands.

GOD SAVE THE KING!
(L. and S. 30/228/54.)

Consenting to the Borrowing of Moneys by the King-country Electric-power Board by way of Bank Overdraft.

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 18th day of December, 1940.

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS the King-country Electric-power Board (hereinafter called “the said local authority”) being desirous of borrowing moneys by way of bank overdraft under section seventy-one of the Electric-power Boards Act, 1925, has 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 borrowing as aforesaid:

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 borrowing of moneys by the said local authority under the said section seventy-one, and in giving such consent doth hereby determine as follows:

1. Such borrowing may be from time to time by way of bank overdraft.

2. The rate of interest payable from time to time shall not exceed the current bank overdraft rate of interest to best customers.

3. No moneys shall be borrowed under this authority at any time after the thirty-first day of March, one thousand nine hundred and forty-one.

4. The total amount owing (including unpaid interest, if any) of moneys borrowed under this consent shall not, on the thirty-first day of March, one thousand nine hundred and forty-one, exceed the sum of two thousand pounds (£2,000).

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

(T. 49/692.)

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 18th day of December, 1940.

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS the several local authorities enumerated in the Schedule hereto are desirous of raising loans to be known in each case as “Rural Housing Loan, 1940,” of the respective amounts stated opposite their names in the second column of the said Schedule from the State Advances Corporation of New Zealand (hereinafter referred to as “the Corporation”) for the purpose of enabling the said local authorities out of the respective loans so raised to make advances to farmers under the Rural Housing Act, 1939:

And whereas the said local authorities 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 by the respective local authorities mentioned in the first column of the said Schedule from the Corporation of the said loans up to the respective amounts specified in the second column of the said Schedule, and in giving such consent doth hereby determine as follows:

(1) Each local authority shall pay to the Corporation each half-year in reduction of the principal moneys advanced by the Corporation to such local authority an amount equal to the sum of all the amounts which are expressed to be payable to that local authority during such half-year by the agreements entered into with the local authority by the various farmers to whom the said local authority has advanced any of the loan-moneys.

(2) The rate of interest that may be paid in respect of each of the said loans or so much thereof as is for the time being raised and not repaid shall be three pounds (£3) per centum per annum, payable half-yearly, the first such payment to be made in each case not later than six months after the date of the payment of the first instalment of the loan by the Corporation to the local authority, such interest to be calculated on the daily-debtor balances in the books of the Corporation.

(3) No amount payable as either interest or principal in respect of the said respective loans shall be paid out of loan-moneys.

(4) No amount shall be payable for brokerage, under-writing, or procurement fees in respect of the raising of the said respective loans or any parts thereof.

SCHEDULE.

First Column.                                 Second Column.
Name of Local Authority.                   Amount of Loan.

• Cook County Council                         £10,000
• Eyre County Council                         £5,000
• Featherston County Council                £10,000
• Mauriceville County Council               £3,000
• Piako County Council                        £20,000
• Waimate West County Council             £10,000
• Wairarapa South County Council         £10,000

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

(T. 40/416/4.)