1540

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 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. 49/547.)

Consenting to the Raising of a Loan of £8,000 by the Carterton Fire
Board and prescribing the Conditions thereof
C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 5th day of
December, 1945
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL
WHEREAS the Carterton Fire Board (hereinafter called " the
said local authority "), being desirous of raising a loan of
eight thousand pounds (£8,000), to be known as " Fire-station Loan,
1945 " (hereinafter called " the said loan "), for the purpose of
purchasing land and erecting a fire-station and the provision of
fittings and furnishings therefor, 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 eight thousand pounds (£8,000), 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 thirty (30) years.

THE NEW ZEALAND GAZETTE
[No. 79

(2) The loan shall be free of interest for the first five (5) years of
the term, and thereafter 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 ten shillings
(£3 10s.) per centum per annum.
(3) The said loan, together with interest thereon, shall be repaid
by annual instalments in the years set out in the first column of the
Schedule hereunder of the amounts set opposite each year in the
second column of the said Schedule, each such yearly instalment
for the first five years consists of principal only and for the remaining
twenty-five years includes a repayment of principal amounting to
two hundred and thirty pounds and a year's interest calculated at
the rate of three pounds ten shillings (£3 10s.) per centum per annum,
as determined in clause two above, on the amount of principal out-
standing immediately prior to the date of payment of such instalment.
SCHEDULE

First Column. Second Column. | First Column. Second Column.
Year. Amount. Year. Amount.
1st ... 450 0 0 16th ... 350 15 0
2nd ... 450 0 0 17th ... 342 14 0
3rd ... 450 0 0 18th ... 334 13 0
4th ... 450 0 0 19th ... 326 12 0
5th ... 450 0 0 20th ... 318 11 0
6th ... 431 5 0 21st ... 310 10 0
7th ... 423 4 0 22nd ... 302 9 0
8th ... 415 3 0 23rd ... 294 8 0
9th ... 407 2 0 24th ... 286 7 0
10th ... 399 1 0 25th ... 278 6 0
11th ... 391 0 0 26th ... 270 5 0
12th ... 382 19 0 27th ... 262 4 0
13th ... 374 18 0 28th ... 254 3 0
14th ... 366 17 0 29th ... 246 2 0
15th ... 358 16 0 30th ... 238 1 0

(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) No amount shall be payable for brokerage, underwriting, or
procuration fees in respect of the raising of the said loan or any part
thereof.
(7) 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. 49/706.)

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 5th day of December, 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 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) No amount shall be payable for brokerage, underwriting, or procuration fees in respect of the raising of the said respective loans or
any parts thereof.
(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
SCHEDULE

First Column. Second Column. Third Column. Fourth Column. Fifth Column.
Name of Local Authority. Name of Loan. Amount of Loan. Term of Rate of
Loan (Years). Interest.
Auckland City Council Victoria Park Transit Housing Loan, 1945 £14,000 10 £ s. d.
Wellington City Council Wellington City Transit Housing Loan, 1945 £17,000 10 £ s. d.

W. O. HARVEY,
Acting Clerk of the Executive Council.
(T. 40/416/6.)