MAY 22.] THE NEW ZEALAND GAZETTE. 1363

Consenting to the Raising of a Loan of £125,000 by the Auckland City Council and prescribing the Conditions thereof.

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

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 14th day of May, 1941.

Present:

THE HON. W. NASH PRESIDING IN COUNCIL.

WHEREAS the Auckland City Council (hereinafter called “the said local authority”) being desirous of raising the sum of one hundred and twenty-five thousand pounds (£125,000) by a loan to be known as “North Shore Boroughs (Auckland) Water-supply Loan, 1941” (hereinafter called “the said loan”), for the purpose of carrying out works necessary to enable water to be supplied to the North Shore Boroughs, has complied with the provisions of the Local Government Loans Board Act, 1920 (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 one hundred and twenty-five thousand pounds (£125,000), 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 exceeding four pounds (£4) 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 thereafter 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 two pounds (£2), such payments to be made in respect of every part of the said loan for the time being so borrowed and not repaid, 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.

T. R. AICKIN,
Acting Clerk of the Executive Council.

(T. 49/121/53.)

Consent to the Establishment and Maintenance of an Aerodrome by the Maniototo County Council.

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

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 7th day of May, 1941.

Present:

THE HON. W. NASH PRESIDING IN COUNCIL.

IN pursuance and exercise of the powers and authorities vested in him by the Local Authorities Empowering (Aviation Encouragement) Act, 1929, 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, doth hereby consent to the acquisition by the Maniototo County Council of the land described in the Schedule hereto and to the establishment and maintenance by the said council of an aerodrome thereon.

SCHEDULE.

LAND REGISTRATION DISTRICT OF OTAGO, BLOCK I, TOWN OF RANFURLY.

SECTIONS 8, 9, 10, and 37, and the closed road lying between the above-mentioned Sections 8 and 9. Area, 78 acres 2 roods 4-6 perches, more or less.

T. R. AICKIN,
Acting Clerk of the Executive Council.

(Air 36/2/65.)

Consenting to stopping Portions of a Road in Blocks XIII and XIV, Hapuakohe Survey District, Waikato County.

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

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 14th day of May, 1941.

Present:

THE HON. W. NASH PRESIDING IN COUNCIL.

IN pursuance and exercise of the powers and authorities conferred by the Public Works Act, 1928, and of all other powers in anywise enabling him in this behalf, 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, doth hereby consent to the Waikato County Council stopping the portions of road described in the Schedule hereto.

SCHEDULE.

In the Auckland Land District; as the same are more particularly delineated on the plan marked P.W.D. 110349, deposited in the office of the Minister of Public Works at Wellington, and thereon coloured green.

T. R. AICKIN,
Acting Clerk of the Executive Council.

(P.W. 62/2/493/0.)