Nov. 22] THE NEW ZEALAND GAZETTE 1451

to Lyttelton, has 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 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 said purpose up to the amount of three thousand
three hundred pounds (£3,300), 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 four (4) 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 or rates exceeding three pounds ten
shillings (£3 10s.) per centum per annum.

(3) The said loan or any part thereof shall be repaid by equal
annual instalments of principal of not less than eight hundred and
twenty-five pounds (£825) each extending over the term as
determined in (1) above.

(4) The payment of interest and the repayment 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.

(5) No amount shall be payable for brokerage, underwriting,
and procurement fees in respect of the raising of the said loan or
any part thereof.

(6) No moneys shall be borrowed under this consent after the
expiration of two years from the date thereof.

W. O. HARVEY,
Acting Clerk of the Executive Council.

(T. 49/335/7.)

Consenting to the Raising of a Loan of £4,000 by the Hawke’s Bay
Rivers Board and prescribing the Conditions thereof

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

At the Government Buildings at Wellington, this 14th day of
November, 1945

Present :

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS the Hawke’s Bay Rivers 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 borrow the sum of four thousand pounds
(£4,000), by a loan to be known as “ Plant Loan, 1945 ” (hereinafter
called “ the said loan ”), for the purpose of purchasing a tractor :

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 four thousand pounds (£4,000), and in giving such consent doth
hereby determine as follows :—

(1) The term for which the said loan or any part thereof may
be raised shall be five (5) 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 a rate exceeding three pounds fifteen shillings (£3 15s.)
per centum per annum.

(3) The said loan, together with interest thereon, shall be
repaid by equal aggregate annual instalments extending over the
term as determined in (1) above.

(4) No moneys shall be borrowed under this consent after the
expiration of two years from the date hereof.

W. O. HARVEY,
Acting Clerk of the Executive Council.

(T. 49/316.)

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 Buildings at Wellington, this 14th day of November, 1945

Present :

THE RIGHT HON. P. FRASER PRESIDING 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 local authorities shall, before raising the said respective loans or any parts thereof, make provision for the repayment thereof
by establishing sinking funds under the Local Bodies’ Loans Act, 1926, or under such other statutory enactment as may be applicable in any
respective case, and shall thereafter make payments to such sinking funds at intervals of not more than one year, at a rate or rates per centum
which shall be not less than the respective rates stated in the sixth column of the said Schedule, such payments to be made in respect of
every part of the said respective loans for the time being so borrowed and not repaid, the first such payment in each respective case to be
made not later than one year after the first day from which interest to the lender or lenders is computed on any loan or part thereof so raised.

(4) No amount payable as either interest or sinking fund in respect of the said loans 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) The payment of interest and repayment of principal in respect of the said loans shall be made in New Zealand.

(7) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE

W. O. HARVEY,
Acting Clerk of the Executive Council

(T. 40/416/6.)