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

C. L. N. NEWALL, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of December, 1941.

Present:

His Excellency THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Hastings Borough Council (hereinafter called “the said local authority”) being desirous of raising the sum of six thousand pounds (£6,000) by a loan to be known as “Water-mains Completion Loan, 1941” (hereinafter called “the said loan”), for the purpose of completing the duplication of water-mains from the pumping-station at Hastings to the reservoir at Havelock North, 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 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 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 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 produce to the lender or lenders a rate or rates exceeding three pounds twelve shillings and sixpence (£3 12s. 6d.) per centum per annum.

(3) The said loan or any part thereof, together with interest thereon, shall be repaid by equal aggregate annual of 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-moneys.

(5) The rate payable for brokerage, underwriting, and procurement 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.

(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

T. R. AICKIN,

Acting Clerk of the Executive Council.

(T. 49/132/6.)

Consenting to the Raising of a Loan of £1,500 by the Waitaki County Council and prescribing the Conditions thereof.

C. L. N. NEWALL, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 17th day of December, 1941.

Present:

His Excellency THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Waitaki County Council (hereinafter called “the said local authority”) being desirous of raising the sum of one thousand five hundred pounds (£1,500) by a loan to be known as “Highways Construction Supplementary Loan, 1941” (hereinafter called “the said loan”), for the purpose of completing the work for which the Highways Construction Loan No. 2, 1938, was raised, 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 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 the 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 one thousand five hundred pounds (£1,500), 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 eight (8) 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 fifteen shillings (£3 15s.) per centum per annum.

(3) The said loan shall be free of principal repayments for the first five (5) years from the date of the raising thereof, and shall thereafter be repaid by three annual payments of five hundred pounds (£500) each, the first such payment to be made not later than six (6) years from the date of the raising of the said loan.

(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 as repayment of principal in respect of the said loan shall be paid out of loan-moneys.

(6) The rate payable for brokerage, underwriting, and procurement 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.

T. R. AICKIN,

Acting Clerk of the Executive Council.

(T. 49/481/5.)

Consenting to the Raising of a Loan of £2,500 by the Waitaki County Council and prescribing the Conditions thereof.

C. L. N. NEWALL, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 17th day of December, 1941.

Present:

His Excellency THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Waitaki 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 two thousand five hundred pounds (£2,500) by a loan to be known as “Main Highways Loan, 1941” (hereinafter called “the said loan”) for the purpose of paying its portion of the cost of reconstructing and sealing the Pukeuri-Kurow-Omarama 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 two thousand five hundred pounds (£2,500), 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,

Consenting to the Raising of a Rural Housing Loan of £5,000 by the Coromandel County Council and prescribing the Conditions thereof.

C. L. N. NEWALL, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 10th day of December, 1941.

Present:

His Excellency THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS the Coromandel County Council is desirous of raising from the State Advances Corporation of New Zealand (hereinafter referred to as “the Corporation”) a loan of five thousand pounds (£5,000) to be known as “Rural Housing Loan, 1941” (hereinafter called “the said loan”) for the purpose of enabling the said Council out of the loan so raised to make advances to farmers under the Rural Housing Act, 1939 ;

(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 three pounds fifteen shillings (£3 15s.) per centum per annum.

(3) The said loan or any part thereof, 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.

T. R. AICKIN,

Acting Clerk of the Executive Council.