1502
THE NEW ZEALAND GAZETTE
[No. 96

SCHEDULE

(4) The payment of such instalments shall be made in New Zealand, and no instalments shall be paid out of loan-moneys.

(5) The rate payable for brokerage, underwriting, and pro-curation 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.

(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. 49/805/5.)

Consenting to the Raising of a Loan of £1,000 by the Hawke’s Bay Catchment Board and prescribing the Conditions thereof

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 6th day of December, 1944

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Hawke’s Bay Catchment Board (hereinafter called “the said local authority”) proposes, pursuant to the provisions of section thirty of the Soil Conservation and Rivers Control Act, 1941, to raise a loan of one thousand pounds (£1,000), to be known as “Administration Loan, 1944” (hereinafter called “the said loan”), for the purpose of paying administration-expenses:

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 by the said local authority of the said loan for the said purpose up to the amount of one thousand pounds (£1,000), and in giving such consent doth hereby determine as follows:—

(1) 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 a rate exceeding £3 10s. per centum per annum.

(2) The said loan or any part thereof shall be repaid prior to the thirty-first day of March, one thousand nine hundred and forty-six.

C. A. JEFFERY, Clerk of the Executive Council.
(T. 49/713.)

Consenting to the Raising of Portion (£6,000) of the Te Awamutu Electric-power Board’s Loan of £25,000 and prescribing the Conditions thereof

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 13th day of December, 1944

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the twenty-ninth day of January, 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 Te Awamutu Electric-power Board (hereinafter called “the said local authority”) of the sum of twenty-five thousand pounds (£25,000), to be known as “Extension Loan, 1940” (hereinafter called “the said loan”):

And whereas the authority conferred by the said Order in Council has not been exercised to the extent of twelve thousand pounds (£12,000):

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 amount of twelve thousand pounds (£12,000) 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 a portion amounting to six thousand pounds (£6,000) (hereinafter called “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 six thousand pounds (£6,000) for the purpose for which the said loan was authorized, 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 not exceed 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 ten shillings (£3 10s.) per centum per annum.

(3) The said loan 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 pro-curation fees in respect of the borrowing of the said loan 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. 49/142/5.)

Varying the Determinations in respect of the Tauranga Electric-power Board’s Loan of £20,000

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 29th day of November, 1944

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the eighth day of November, one thousand nine hundred and forty-four (hereinafter called “the said Order in Council”), and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Tauranga Electric-power Board (hereinafter called “the said local authority”) of a loan of twenty thousand pounds (£20,000), to be known as “Extension Loan, 1944” (hereinafter called “the said loan”):

And whereas the said loan has not yet been raised and it is expedient to vary 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 as follows:—

(1) In lieu of a rate of interest not exceeding three pounds ten shillings (£3 10s.) per centum per annum, as specified in clause two of the said Order in Council, the rate of interest that may be paid in respect of the said loan shall be such as shall not produce to the lender or lenders a rate exceeding three pounds (£3) per centum per annum for the first five (5) years of the term, a rate exceeding three pounds two shillings and sixpence (£3 2s. 6d.) per centum per annum for the next five years thereafter, and a rate exceeding three pounds five shillings (£3 5s.) per centum per annum for the remaining ten (10) years of the term.

(2) In lieu of repayment by equal aggregate annual or half-yearly instalments of principal and interest, as specified in clause three of the said Order in Council, the said loan shall be repaid by the half-yearly redemption of debentures on the dates set out in the first column of the Schedule hereunder of the amounts stated opposite such dates in the second column of the said Schedule.