3724

THE NEW ZEALAND GAZETTE.

[No. 94

SCHEDULE.

First Column.
Name of Local Authority.
Manukau County Council
Mangapu Drainage Board
Northcote Borough Council
Hobson County Council

Second Column.
Name of Loan.
Quarry and Buildings Loan, 1941
Orahiri Drainage Board Repayment Loan,
1941
Water-meter Loan, 1941
Bridge Loan, 1941

Third Column.
Amount of Loan.
£
4,500
500
1,800
1,000

Fourth
Column.
Term of
Loan
(Years).
20
15
15
30

Fifth Column.
Rate of
Interest.
£ s. d.
3 15 0
3 15 0
3 10 0
3 15 0

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

(T. 40/416/6.)

Consenting to the Raising of a Loan of £216,500 by the Dunedin
City Council and prescribing the Conditions thereof.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 19th day
of November, 1941.

Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.
WHEREAS under the authority of clause sixteen of
the Dunedin City Loans Conversion Order, 1934,
the Dunedin City Council (hereinafter called "the said local
authority") stipulated in certain of the securities issued
pursuant to such Order for the redemption thereof at the
option of the said local authority on such date prior to
that specified in the said securities as the said local authority
might fix by notice in that behalf to be published in the
Gazette at least three (3) months before such prior date:
And whereas the said local authority proposes, in exercise
of the said option, to redeem on the first day of April, one
thousand nine hundred and forty-two, certain of such
securities amounting in the aggregate to the sum of two
hundred and sixteen thousand five hundred pounds (£216,500),
namely, securities amounting to sixty-nine thousand four
hundred pounds (£69,400), the date for the redemption of
which is specified in such securities as the first day of April,
one thousand nine hundred and forty-three, securities
amounting to seventy-two thousand one hundred pounds
(£72,100), the date for the redemption of which is specified
in such securities as the first day of April, one thousand
nine hundred and forty-four, and securities amounting to
seventy-five thousand pounds (£75,000), the date for the
redemption of which is specified in such securities as the first
day of April, one thousand nine hundred and forty-five:
And whereas the said local authority being desirous, in
order to give effect to such proposal, of raising a loan of two
hundred and sixteen thousand five hundred pounds (£216,500)
to be known as the "Conversion Loan Repayment Loan,
1942" (hereinafter called "the said loan") has complied
with the provisions of the Local Government Loans Board
Act, 1926, and it is expedient that the precedent consent of
the Governor-General in Council as required by such 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 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 in New Zealand by the said local authority
of the said loan for the said purpose up to the amount of
two hundred and sixteen thousand five hundred pounds
(£216,500), 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 three (3) 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 of lenders a rate exceeding three pounds
five shillings (£3 5s.) per centum per annum.
(3) The said loan shall be repaid by annual instalments of
principal on each date set out in the first column of the
Schedule hereto of the amount stated opposite such date in
the second column of the said Schedule.

SCHEDULE.
First Column.
Date.
1st April, 1943
1st April, 1944
1st April, 1945

Second Column.
Amount.
£
69,400
72,100
75,000

(4) It shall not be necessary to establish a separate sinking
fund for the repayment loan of two hundred and sixteen
thousand five hundred pounds (£216,500), and the proviso
to subsection three of section thirty-two of the Finance Act,
1938 (as set out in subsection two of section twenty-nine of
the Finance Act, 1941) shall apply, and accordingly the
provisions of subclause two of clause twenty of the Dunedin
City Loans Conversion Order, 1934, shall be construed as
if the debentures amounting to two hundred and sixteen
thousand five hundred pounds (£216,500) redeemed on the
first day of April, one thousand nine hundred and forty-two,
had not been redeemed as at that date but had been redeemed
on the dates specified in clause three hereof.
(5) The payment of interest and instalments of principal
in respect of the said loan shall be made in New Zealand,
and no amount payable as interest or principal shall be paid
out of loan-moneys.
(6) No amount shall be payable for brokerage, under-
writing, or procurement fees in respect of the raising of the
said loan or any part thereof.
(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. 49/254/25.)

Consenting to the Raising of a Loan of £234,500 by the
Christchurch Drainage Board and prescribing the Conditions
thereof.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 19th day
of November, 1941.

Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.
WHEREAS under the authority of clause sixteen of the
Christchurch Drainage Board Loans Conversion
Order, 1934 (No. 2), the Christchurch Drainage Board (herein-
after called "the said local authority") stipulated in certain
of the securities issued pursuant to such Order for the
redemption thereof at the option of the said local authority
on such date prior to that specified in the securities as the
said local authority might fix in that behalf by notice to be
published in the Gazette at least six (6) months before such
prior date:
And whereas the said local authority proposes, in exercise
of such option, to redeem on the thirtieth day of June, one
thousand nine hundred and forty-two, certain of such
securities amounting in the aggregate to the sum of two
hundred and thirty-four thousand five hundred pounds
(£234,500), the dates specified in such securities for the
redemption thereof being between the thirty-first day of
December, one thousand nine hundred and forty-two, and
the thirty-first day of December, one thousand nine hundred
and fifty-three (both dates inclusive):