1088
THE NEW ZEALAND GAZETTE
[No. 78

Land taken and Crown Land set apart for Public Works

C. L. N. NEWALL, Governor-General

A PROCLAMATION

IN pursuance and exercise of the powers and authorities vested in me by the Public Works Act, 1928, and of every other power and authority in anywise enabling me in this behalf, I, Cyril Louis Norton Newall, the Governor-General of the Dominion of New Zealand, do hereby proclaim and declare that the land described in the First Schedule hereto is hereby taken for public works, and that the Crown land described in the Second Schedule hereto is hereby set apart for a public work ; and I do also hereby declare that this Proclamation shall take effect on and after the seventh day of September, one thousand nine hundred and forty-four.

FIRST SCHEDULE

SECOND SCHEDULE

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 5th day of September, 1944.

R. SEMPLE, Minister of Works.

GOD SAVE THE KING!

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

Consenting to the Raising of the Balance (£3,000) of the Waitaki Electric-power Board’s Loan of £20,000 and prescribing the Conditions thereof

C. L. N. NEWALL, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 23rd day of August, 1944

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the twenty-second day of December, one thousand nine hundred and forty-one, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising by the Waitaki Electric-power Board (hereinafter called “the said local authority”) of a loan of twenty thousand pounds (£20,000), to be known as “Extension Loan, 1941”:

And whereas the authority conferred by the said Order in Council has not been exercised to the extent of three thousand pounds (£3,000) (hereinafter called “the said sum”):

And whereas the authority has lapsed in accordance with the provisions of clause six of the said Order in Council, and it is not now lawful or competent for the said local authority to raise the said sum or any portion thereof except in accordance with the provisions of a further Order in Council that may be issued pursuant to section eleven of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”):

And whereas the said local authority is now desirous of raising the said sum, and it is expedient to authorize the said local authority to raise the said sum on the conditions hereinafter set out:

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 sum up to the amount of three thousand pounds (£3,000), and in giving such consent doth hereby determine as follows:—

(1) The term for which the said sum or any part thereof may be borrowed shall not exceed twenty-five (25) years.

(2) The rate of interest that may be paid in respect of the said sum or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.

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

(5) The rate payable for brokerage, underwriting, and procurement fees in respect of the borrowing of the said sum 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.

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

(T. 49/416/5.)