seventeenth day of April, one thousand nine hundred and forty,

in so far as such determinations apply to the raising of the
above-mentioned sums of one hundred and six thousand six
hundred pounds (£106,600) and ten thousand pounds (£10,000)
respectively, and doth hereby consent to the raising in New
Zealand by the said local authority of the said sum of one
hundred and sixteen thousand six hundred pounds (£116,600)
(hereinafter called “the said sum”), or any part thereof, 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 twenty (20) 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 four pounds (£4) per
centum per annum.

(3) The said sum or any part thereof together with interest
thereon shall be repaid as follows:

(a) By forty equal payments of three thousand one hundred
and nine pounds nine shillings (£3,109 9s.) one of
such payments to be made at the end of every half-
year commencing from the date on which the said sum
is raised. Each such half-yearly payment shall be
applied firstly in payment of interest computed at the
rate of four pounds (£4) per centum per annum on
the amount of principal for the time being outstanding at the beginning of each such half-year,
and the balance of such half-yearly payment in
reduction of such principal.

(b) By a payment at the end of the twentieth year from the
date of the raising of the said sum of a sum equal to
the amount to which the principal has been reduced
in accordance with the preceding paragraph (a)
hereof after payment of the aforesaid forty (40) half-
yearly payments.

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

(5) The rate payable for brokerage, underwriting, and
procuration fees in respect of the raising 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. 49/596/2.)

Consenting to the Raising of a Loan of £464 by the Geraldine
Borough Council and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 22nd day of
May, 1940.
Present:

His Excellency THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Geraldine Borough 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 four hundred
and sixty-four pounds (£464) by a loan to be known as “Main
Highways Loan, 1940” (hereinafter called “the said loan”),
for the purpose of paying its portion of the cost of preparation
and sealing work on the Borough section of the Geraldine-
Fairlie 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,
dothe hereby consent to the raising by the said local authority
of the said loan for the said purpose up to the amount of
four hundred and sixty-four pounds (£464), 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 five (5) 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 a rate exceeding four pounds (£4) 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. 49/110.)

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

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 22nd day of May, 1940.
Present:

His Excellency THE GOVERNOR-GENERAL 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 procuration 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.
Second Column.
Third Column.
Fourth Column.
Fifth Column.
Name of Local Authority.
Name of Loan.
Amount of
Loan.
Term of
Loan.
(Rate of
Interest).

Gisborne Borough Council .. .. Sewerage and Other Miscellaneous Works
Renewal Loan, 1940
£151,800
30
4 0 0
Waiitemata Electric-power Board .. .. Reticulation Extension Loan, 1940,
£45,000
25
4 0 0
Pahiatua County Council .. .. Vowell's Road Deviation Loan, 1940 ..
£1,000
20
4 0 0

(T. 40/416/6.)

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