Dec. 19] THE NEW ZEALAND GAZETTE 1921

Consenting to the Raising of a Loan of £4,000 by the South Canterbury Hospital 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 South Canterbury Hospital Board (hereinafter called the said local authority), being desirous of raising a loan of four thousand pounds (£4,000), to be known as “Lister Maternity Hospital, Waimate, Loan, 1946” (hereinafter called the said loan), for the purpose of purchasing the Lister Maternity Hospital at Waimate, together with furniture and fittings, 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 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 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 five shillings (£3 5s.) per centum per annum.
(3) The said loan or any part thereof shall be repaid by equal annual instalments of principal extending over the term of the loan as determined in (1) above.
(4) The payment of interest and principal in respect of the said loan shall be made in New Zealand.
(5) No amount payable either as interest or as principal in respect of the said loan shall be paid out of loan-money.
(6) The rate payable for brokerage, underwriting, and procurement 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.
(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. 49/482/6.)

Consenting to the Raising of Loans of £1,500 and £900 by the Woodville Borough Council and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General ORDER IN COUNCIL
At the Government Buildings at Wellington, this 11th day of December, 1946
Present:
The Right Hon. P. FRASER PRESIDING IN COUNCIL
WHEREAS the Woodville Borough Council (hereinafter called the said local authority) proposes, pursuant to the terms of requisitions issued under section twenty-two of the Health Act, 1920, to raise the sum of one thousand five hundred pounds (£1,500) by a loan to be known as “Water-supply Extensions Loan, 1946,” for the purpose of providing waterworks for the purpose of extending the borough water-supply system, and the sum of nine hundred pounds (£900) by a loan to be known as “Water-supply Additional Loan, 1946,” for the purpose of completing waterworks to improve the borough water-supply (hereinafter called 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 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 loans for the said respective purposes up to the respective amounts of one thousand five hundred pounds (£1,500) and nine hundred pounds (£900), 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 not exceed twenty-five (25) years.
(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 rates exceeding three pounds five shillings (£3 5s.) per centum per annum.
(3) The said loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the terms 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 procurement fees in respect of the raising of the said loans or any parts thereof shall not in the aggregate exceed one-half per centum of any amounts 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. 49/135.)

Consenting to the Raising of Loans by certain Local Authorities 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 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
First Column.
Name of Local Authority.
Second Column.
Name of Loan.
Third Column.
Amount of Loan.
Fourth Column.
Term of Loan
(Years).
Fifth Column.
Rate of Interest.
Sixth Column.
Rate of Sinking Fund.
Dunedin City Council .. Public Works Supplementary Loan, 1946 .. £10,000 15 £3 5 0 £5 5 7
Dunedin City Council .. Electricity Loan, 1946 .. £120,000 20 £3 5 0 £3 12 7
Dunedin City Council .. Electricity Distribution Loan, 1946 .. £280,000 20 £3 5 0 £3 12 7
Dunedin Drainage and Sewerage Board .. Drainage Extension Loan, 1946 .. £130,000 15 £3 5 0 £5 5 7
Banks Peninsula Electric-power Board .. Workers' Dwellings Loan, 1946 .. £3,600 25 £3 5 0 £3 0 0
(T. 40/416/6.)

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