Consenting to the Raising of a Loan of £150,000 by the Dunedin
Drainage and Sewerage Board and prescribing the Conditions
thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 18th day of
December, 1946
Present:

His Excellency The Governor-General in Council
WHEREAS under the authority of clause sixteen of the Dunedin
Drainage and Sewerage Board Loans Conversion Order, 1933,
the Dunedin Drainage and Sewerage Board (hereinafter called the
said local authority) stipulated in certain of the securities issued
pursuant to such Order for the redemption thereof at the option
of the said local authority on such date prior to that specified in the
said securities as the said local authority might fix by notice in that
behalf to be published in the Gazette at least three (3) months before
such prior date:
And whereas the said local authority proposes, in exercise of
the said option, to redeem on the first day of April, one thousand
nine hundred and forty-seven, certain of such securities amounting
in the aggregate to the sum of one hundred and fifty thousand
pounds (£150,000), the date specified in such securities for the
redemption thereof being the first day of April, one thousand nine
hundred and fifty:
And whereas the said local authority being desirous, in order
to give effect to such proposal, of raising a loan of one hundred and
fifty thousand pounds (£150,000), to be known as "Conversion
Loan, First Repayment Loan, 1947" (hereinafter called the said
loan), has complied with the provisions of the Local Government
Loans Board Act, 1926, and it is expedient that the precedent
consent of the Governor-General in Council, as required by such 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 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 in New Zealand by the said
local authority of the said loan for the said purpose up to the amount
of one hundred and fifty thousand pounds (£150,000), 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 not exceed three (3) 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 (£3) per centum per
annum.
(3) The said loan shall be repaid on the first day of April, one
thousand nine hundred and fifty.
(4) It shall not be necessary to establish a separate sinking
fund for the repayment loan of one hundred and fifty thousand
pounds (£150,000), and the proviso to subsection three of section
thirty-two of the Finance Act, 1938 (as set out in subsection two
of section twenty-nine of the Finance Act, 1941) shall apply, and,
accordingly, the provisions of subclause two of clause twenty of the
Dunedin Drainage and Sewerage Board Loans Conversion Order,
1933, shall be construed as if the debentures amounting to one
hundred and fifty thousand pounds (£150,000) redeemed on the
first day of April, one thousand nine hundred and forty-seven, had
not been redeemed as at that date, but had been redeemed on the
first day of April, one thousand nine hundred and fifty.
(5) The payment of interest and instalments 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.
(6) The amount 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-quarter 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.
W. O. HARVEY, Clerk of the Executive Council.
(T. 49/362/5.)

Consenting to the Raising of a Loan of £4,000 by the Warkworth
Town Board and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 18th day of
December, 1946
Present:

His Excellency The Governor-General in Council
WHEREAS the Warkworth Town Board (hereinafter called the
said local authority) proposes, pursuant to the terms of a
requisition issued under section twenty-two of the Health Act, 1920,
to raise a loan of four thousand pounds (£4,000), to be known as
"Water-supply Loan, 1946" (hereinafter called the said loan), for
the purpose of providing waterworks for the improvement of the
Town District water-supply, including the provision of a new pump,
the sinking of a bore, the erection of reservoirs, and the provision
of new water-mains:
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 in New Zealand 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 not exceed twenty (20) 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 five shillings
(£3 5s.) 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 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.
W. O. HARVEY, Clerk of the Executive Council.
(T. 49/141/16)

Consenting to the Raising of a Loan of £60,400 by the Whangarei
Borough Council and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 18th day of
December, 1946
Present:

His Excellency The Governor-General in Council
WHEREAS the Whangarei Borough Council (hereinafter called
the said local authority), being desirous of raising a loan
of sixty thousand four hundred pounds (£60,400), to be known as
"Electricity Reticulation Loan, 1946" (hereinafter called the said
loan), for the purpose of extending and improving the electrical
system of the borough, 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 sixty thousand four
hundred pounds (£60,400), 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 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 or rates exceeding three pounds five shillings
(£3 5s.) per centum per annum.
(3) The said loan shall be repaid by the annual redemption of
debentures in the years set out in the first column of the Schedule
hereunder of the amounts stated opposite each such year in the
second column of the said Schedule.

SCHEDULE OF REDEMPTIONS
| Year | Amount | Year | Amount |
|---|---|---|---|
| 1st | 1,500 | 14th | 2,400 |
| 2nd | 1,600 | 15th | 2,500 |
| 3rd | 1,600 | 16th | 2,600 |
| 4th | 1,800 | 17th | 2,700 |
| 5th | 1,700 | 18th | 2,800 |
| 6th | 1,900 | 19th | 2,900 |
| 7th | 1,900 | 20th | 3,000 |
| 8th | 1,900 | 21st | 3,100 |
| 9th | 2,100 | 22nd | 3,200 |
| 10th | 2,100 | 23rd | 3,300 |
| 11th | 2,200 | 24th | 3,400 |
| 12th | 2,200 | 25th | 3,600 |
| 13th | 2,400 | | |

(4) The redemption of such debentures and the payment of
interest shall be made in New Zealand, and no redemptions or
interest 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 raised under this consent after the
expiration of two years from the date hereof.
W. O. HARVEY, Clerk of the Executive Council.
(T. 49/328.)