898
THE NEW ZEALAND GAZETTE
[No. 60

loan of thirty-five thousand pounds (£35,000), to be known as “Municipal Buildings Loan, 1942,” for the purpose of demolishing the old portion of the existing building and erecting on the present site a new municipal building, strengthening the remaining portion of the old building, and the purchase of furnishings—i.e., floor-coverings :

And whereas the said local authority is desirous of raising a further loan of ten thousand pounds (£10,000), for the purpose of meeting additional costs of the work, and has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”):

And whereas the said loan of thirty-five thousand pounds (£35,000) has not yet been raised, and the local authority is desirous of raising the amounts of thirty-five thousand pounds (£35,000) and ten thousand pounds (£10,000) in one loan of forty-five thousand pounds (£45,000), to be known as “Municipal Buildings Loan, 1944” (hereinafter called “the said loan”), 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 purposes hereinbefore mentioned up to the amount of forty-five thousand pounds (£45,000), and in giving such consent doth hereby determine as follows :—

(1) The term for which the said loan or any part thereof may be borrowed shall be twenty-five (25) 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 five shillings (£3 5s.) per centum per annum.

(3) The said loan shall be repaid by the half-yearly redemption of debentures in the half-years set out in the first column of the Schedule hereunder of the amounts stated opposite such half-years in the second column of the said Schedule.

SCHEDULE OF REDEMPTIONS

(4) The payment of interest and the redemptions in respect of the said loan shall be made in New Zealand.

(5) No amount payable as interest or as a redemption 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.

(8) This consent shall be deemed to be in substitution for the consent given by the Order in Council made on the third day of March, one thousand nine hundred and forty-three, and no moneys shall be borrowed under the authority given by the Order in Council made on the third day of March, one thousand nine hundred and forty-three, after the date hereof.

C. A. JEFFERY, Clerk of the Executive Council.
(T. 49/284/23).

Varying the Determinations in respect of the Otago Hospital Board’s Loan of £183,000

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 19th day of July, 1944
Present:
His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the twenty-eighth day of June, one thousand nine hundred and forty-four, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Otago Hospital Board (hereinafter called “the said local authority”) of a loan of one hundred and eighty-three thousand pounds (£183,000), to be known as “Hospital (No. 1) Loan, 1943” (hereinafter called “the said loan”):

And whereas the authority conferred by the said Order in Council has not yet been exercised, and it is expedient to vary certain of the determinations aforesaid in respect 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 vary the determinations aforesaid in respect of the said loan by prescribing that in lieu of repayment by equal half-yearly instalments of principal of not less than four thousand five hundred and seventy-five pounds (£4,575), each extending over the term of twenty (20) years, as specified in clause three of the said Order in Council, the said loan shall be repaid by forty (40) half-yearly instalments of principal extending over the term of twenty (20) years, the first thirty-nine (39) instalments being of an amount of four thousand six hundred pounds (£4,600) each and the fortieth instalment being of an amount of three thousand six hundred pounds (£3,600).

C. A. JEFFERY, Clerk of the Executive Council.
(T. 49/703.)

Varying the Determinations in respect of the Wellington City Council’s Loan of £40,000 by extending the Term within which the said Loan may be borrowed

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 12th day of July, 1944
Present:
His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the tenth day of November, one thousand nine hundred and forty-two, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising by the Wellington City Council (hereinafter called “the said local authority”), of a loan of forty thousand pounds (£40,000), to be known as “Wellington City New Office Building Loan, 1942” (hereinafter called “the said loan”):

And whereas by Orders in Council made on the third day of December, one thousand nine hundred and forty-two, and the twentieth day of January, one thousand nine hundred and forty-three, and the fifteenth day of March, one thousand nine hundred and forty-four, the determinations aforesaid were varied:

And whereas the said loan has not yet been raised, and it is expedient to extend the term, as specified in clause seven of the Order in Council made on the tenth day of November, one thousand nine hundred and forty-two, within which the said loan or any portion thereof may be raised:

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 again vary the determinations aforesaid in respect of the said loan by prescribing that no moneys shall be borrowed under the consent given by the Order in Council made on the tenth day of November, one thousand nine hundred and forty-two, after the expiration of three (3) years from the date thereof.

C. A. JEFFERY, Clerk of the Executive Council.
(T. 49/168/86.)

The South-eastern, Southern, and South-western Sides of Portions of Queen’s Road, in the City of Nelson, exempted from the Provisions of Section 128 of the Public Works Act, 1928, subject to a Condition as to Building-line

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 19th day of July, 1944
Present:
His Excellency the Governor-General in Council

IN pursuance and exercise of the powers conferred by the Public Works Act, 1928, and of every other power 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