DEC. 19.] THE NEW ZEALAND GAZETTE. 3731

Consenting to the Raising of a Loan of £25,000 by the Christ-
church City Council 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 Christchurch City Council (hereinafter
called “the said local authority”) being desirous
of raising the sum of twenty-five thousand pounds (£25,000)
by a loan to be known as “Housing Loan No. 2, 1940”
(hereinafter called “the said loan”), for the purpose of
purchasing land and erecting cottages thereon for aged
persons, is 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 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 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 up to the amount of twenty-five thousand pounds
(£25,000), 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 not exceed thirty (30) 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 pro-
duce to the lender or lenders a rate or rates exceeding three
pounds (£3) per centum per annum.

(3) 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.

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

(5) No amount shall be payable for brokerage, under-
writting, or procuration fees in respect of the raising of the
said loan or any part thereof.

(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. 49/268/39.)

—

Varying the Determinations in respect of the One Tree Hill
Borough Council’s Loan of £30,000.

—

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 10th day
of December, 1940.

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the thirteenth
day of November, one thousand nine hundred and
forty, and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising
in New Zealand by the One Tree Hill Borough Council of a
loan of thirty thousand pounds (£30,000) to be known as
“Water-supply Loan, 1940” (hereinafter called “the said
loan”) :

And whereas the authority conferred by the said Order in
Council has not yet 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 the determinations in respect of the said
loan by prescribing as follows :—

(1) In lieu of a rate of interest not exceeding four pounds
(£4) per centum per annum, as specified in clause two of the
said Order in Council, the rate of interest that may be paid
in respect of the said loan 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.

(2) In lieu of provision being made for the repayment of
the said loan by the establishment of a sinking fund, 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 instal-
ments extending over the term of twenty-five (25) years.

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

(T. 49/164.)

—

Varying the Determinations in respect of the Hamilton Borough
Council’s Loan of £12,500.

—

GALWAY, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 10th day
of December, 1940.

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.

WHEREAS by Order in Council made on the twenty-
eighth day of August, one thousand nine hundred
and forty, and subject to the determinations as to borrowing
and repayment therein set out, consent was given to the
raising in New Zealand by the Hamilton Borough Council
(hereinafter called “the said local authority”) of the sum of
twelve thousand five hundred pounds (£12,500) by a loan
to be known as “Aerodrome Loan, 1940” (hereinafter
called “the said loan”) :

And whereas the authority conferred by the said Order
in Council has not yet 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 a term of thirty (30) years, as specified in
clause one of the said Order in Council, the term for which
the said loan or any part thereof may be raised shall not
exceed twenty-five (25) years.

(2) In lieu of a rate of interest not exceeding four pounds
(£4) per centum per annum, as specified in clause two of
the said Order in Council, the rate of interest that may be paid
in respect of the said loan 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) In lieu of provision being made for the repayment of
the said loan by the establishment of a sinking fund in respect
thereof, as provided in clause three of the said Order in Council,
the said loan, together with interest thereon, shall be repaid
by equal aggregate annual or half-yearly instalments extending
over the term of twenty-five (25) years as specified in clause
one above.

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

(T. 49/307/22.)