MAR. 30]

As the same are more particularly delineated on the plans marked and coloured as above mentioned, and deposited in the office of the Minister of Works at Wellington.

Given under the hand of His Excellency the Governor-General of the Dominion of New Zealand, and issued under the Seal of that Dominion, this 29th day of March, 1944.

R. SEMPYLE, Minister of Works

GOD SAVE THE KING!

(P.W. 28/31/4.)

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

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of March, 1944
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 procurement 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

(T. 40/416/6.)

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

Validating Proceedings in connection with the Manawatu-Oroua River Board's Loan of £4,000

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of March, 1944
Present:
His Excellency the Governor-General in Council
WHEREAS the Manawatu-Oroua River Board is proceeding by way of special order to raise a loan of four thousand pounds (£4,000), to be known as "No. 2 Separate Area Loan, 1943" (hereinafter called "the said loan"):
And whereas the proceedings in connection with the said loan were irregular or defective in that although public notification of the resolution to raise the loan was given once during each of the four weeks immediately preceding the meeting at which the resolution was proposed, in accordance with section sixty of the River Boards Act, 1908, only three of such notices specified the correct date on which the meeting was to be held:
And whereas it appears that the ratepayers of the district have not been misled by such irregularity or defect as aforesaid, and it is expedient to validate the same:
Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the powers and authorities conferred on him by section one hundred and twenty-two of the Local Bodies' Loans Act, 1926, and acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby order and declare that the proceedings in connection with the said loan shall be valid to all intents and purposes as though the said public notifications had been correctly given, and that the validity of the proceedings in connection with the said loan, or of the security for the said loan, shall not be called in question by reason only of the irregularity aforesaid.

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