JAN. 16] THE NEW ZEALAND GAZETTE 27

Consenting to the Raising of £475 by the Temuka Borough Council and prescribing the Conditions thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 8th day of January, 1947

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Temuka Borough Council (hereinafter called the said local authority) proposes, pursuant to the provisions of section three of the Main Highways Amendment Act, 1925, to borrow the sum of four hundred and seventy-five pounds (£475), by a loan to be known as, “Main Highways Loan, 1946” (hereinafter called the said loan), for the purpose of meeting its portion of the cost of kerbing and channelling along the Christchurch-Timaru Main Highway through the Temuka Borough ; and

WHEREAS the Governor-General, acting by and with the advice and consent of the Executive Council, has approved the said proposal on the part of the said local authority, subject to the conditions hereinafter set out ;

NOW, THEREFORE, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, does hereby assent to the raising of the said loan of four hundred and seventy-five pounds (£475) by the said local authority, on the conditions hereinafter set out :

(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 not exceed three pounds ten shillings (£3 10s.) 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 monies shall be borrowed under this consent after the expiration of two years from the date hereof.

(5) The said local authority shall not, without the prior consent of the Governor-General, acting by and with the advice and consent of the Executive Council, borrow any further sum or sums for the purpose of the said works or any works in connection therewith, whether by way of additional loans under the provisions of the Local Government Loans Board Act, 1926, or otherwise.

(6) The said local authority shall not, without the like prior consent, enter into any agreement or agreements for the repayment of the said loan or any part thereof, or for the payment of interest thereon, other than as herein provided.

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

T. J. SHERRARD,
Acting Clerk of the Executive Council.

(T. 49/387.)

Consenting to the Raising of a Loan of £1,000 by the Wairarapa Catchment Board and prescribing the Conditions thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 8th day of January, 1947

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Wairarapa 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 “Vehicle Loan, 1946” (hereinafter called the said loan), for the purpose of purchasing vehicles and plant ; and

WHEREAS the Governor-General, acting by and with the advice and consent of the Executive Council, has approved the said proposal on the part of the said local authority, subject to the conditions hereinafter set out ;

NOW, THEREFORE, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, does hereby assent to the raising of the said loan of one thousand pounds (£1,000) by the said local authority, on the conditions hereinafter set out :

(1) The rate of interest that may be paid in respect of the said loan or any part thereof shall not exceed three pounds ten shillings (£3 10s.) per centum per annum.

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

T. J. SHERRARD,
Acting Clerk of the Executive Council.

(T. 49/710.)

Consenting to the Raising of a Loan of £40,000 by the Franklin Electric-power Board and prescribing the Conditions thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 8th day of January, 1947

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Franklin Electric-power Board (hereinafter called the said local authority) proposes to raise a loan of forty thousand pounds (£40,000), to be known as “Reticulation Loan, 1946” (hereinafter called the said loan), for the purpose of reticulation within its area of supply ; and

WHEREAS the Governor-General, acting by and with the advice and consent of the Executive Council, has approved the said proposal on the part of the said local authority, subject to the conditions hereinafter set out ;

NOW, THEREFORE, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, does hereby assent to the raising of the said loan of forty thousand pounds (£40,000) by the said local authority, on the conditions hereinafter set out :

(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 not exceed three pounds five shillings (£3 5s.) 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 monies shall be borrowed under this consent after the expiration of two years from the date hereof.

(5) The said local authority shall not, without the prior consent of the Governor-General, acting by and with the advice and consent of the Executive Council, borrow any further sum or sums for the purpose of the said works or any works in connection therewith, whether by way of additional loans under the provisions of the Local Government Loans Board Act, 1926, or otherwise.

(6) The said local authority shall not, without the like prior consent, enter into any agreement or agreements for the repayment of the said loan or any part thereof, or for the payment of interest thereon, other than as herein provided.

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

T. J. SHERRARD,
Acting Clerk of the Executive Council.

(T. 49/430/11.)

Authorizing the Borrowing by the Grey Electric-power Board by Way of Hypothecation of Debentures issued in respect of a Loan of £20,000

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 8th day of January, 1947

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the eighteenth day of December, one thousand nine hundred and forty-six, consent was given to the raising in New Zealand by the Grey Electric-power Board (hereinafter called the said local authority) of a loan of twenty thousand pounds (£20,000), to be known as “Reflexion Company Purchase Loan, 1945” (hereinafter called the said loan), for the purpose of enabling the said local authority to purchase from the Reflexion Company Limited debentures of the nominal value of twenty thousand pounds (£20,000) ; and

WHEREAS the said local authority now desires to borrow the said sum of twenty thousand pounds (£20,000) by way of hypothecation of the said debentures ; and

WHEREAS the Governor-General, acting by and with the advice and consent of the Executive Council, is satisfied that the provisions of the Local Government Loans Board Act, 1926 (hereinafter called the said Act), and in particular the provisions contained in section eleven of the said Act, as amended by section seven of the Local Authorities Interest Reduction and Loans Conversion Act, 1932-33, and by section eight of the Local Authorities Interest Reduction and Loans Conversion Amendment Act, 1933, are applicable to the borrowing and repayment of the said loan ; and

WHEREAS the Governor-General, acting by and with the advice and consent of the Executive Council, is further satisfied that the said loan should be raised on the terms and conditions hereinafter set out ;

NOW, THEREFORE, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, does hereby authorize the said local authority to borrow the said sum of twenty thousand pounds (£20,000) by way of hypothecation of the said debentures, on the terms and conditions hereinafter set out :

(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 not exceed three pounds five shillings (£3 5s.) 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 monies shall be borrowed under this consent after the expiration of two years from the date hereof.

(5) The said local authority shall not, without the prior consent of the Governor-General, acting by and with the advice and consent of the Executive Council, borrow any further sum or sums for the purpose of the said works or any works in connection therewith, whether by way of additional loans under the provisions of the said Act or otherwise.

(6) The said local authority shall not, without the like prior consent, enter into any agreement or agreements for the repayment of the said loan or any part thereof, or for the payment of interest thereon, other than as herein provided.

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

T. J. SHERRARD,
Acting Clerk of the Executive Council.

(T. 49/198/7.)