APRIL 24]

Consenting to the Assignment to Charles Kenneth Bruce, of Rai Valley,
Tea-room Proprietor, by Alfred Edmond Borgfeldt, of Rai Valley,
of his Rights, Powers, and Privileges under an Order in Council
dated the 3rd December, 1935

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 16th day of
April, 1947
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL
PURSUANT to the Public Works Act, 1928, 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, doth hereby consent to the assignment to Charles
Kenneth Bruce, of Rai Valley, Tea-room Proprietor, by Alfred
Edmond Borgfeldt, of Rai Valley, of his rights, powers, and privileges
under an Order in Council dated the third day of December, one
thousand nine hundred and thirty-five, and published in the Gazette
on the fifth day of the same month, at page 3587, authorizing Leonard
Cooper, of Rai Valley, to erect electric lines in the Township of
Rai Valley, which rights, powers, and privileges were previously
assigned by the said Leonard Cooper to Francis Leonard Taylor,
and by the said Francis Leonard Taylor to the said Alfred Edmond
Borgfeldt.
W. O. HARVEY, Clerk of the Executive Council.
(S.H.D. 11/20/20.)

Order in Council 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 Buildings at Wellington, this 16th day of April, 1947
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 exceeding the respective rates per centum per annum stated in the fifth column of the said Schedule.

(3) The said respective loans shall be free of principal repayments during the first year from the date of the borrowing thereof.

(4) Thereafter 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 balance of the said respective terms as determined in (1) above.

(5) The payment of interest for the first year and thereafter the payment of instalments of principal and interest shall be made
in New Zealand.

(6) No interest after the first year and no instalments of principal and interest shall be paid out of loan-moneys.

(7) 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.

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

(9) In respect of the works to be undertaken from the loans herein authorized, guarantees as described in clauses 21–43 of the
Electrical Supply Regulations 1935 shall first be given in favour of the Power Boards for payments amounting in each of not less than
five (5) consecutive years from the completion of such respective works to at least fourteen (14) per centum of the estimated capital
cost in each respective case.

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.
Bay of Islands Electric-power Board .. Additional Areas Loan, 1945 (£200,000) .. .. £23,000 25 3 5 0
King-country Electric-power Board .. General Purposes Loan, 1941 (£120,000) .. .. £80,000 25 3 5 0
(T. 40/416/6.)

Varying the Determinations in respect of the Kamo Town Board's
Loan of £1,200

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 16th day of
April, 1947
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the twenty-ninth
day of May, one thousand nine hundred and forty-six
(hereinafter called the said Order in Council), and subject to the
determinations as to borrowing and repayment therein set out,
consent was given to the raising in New Zealand by the Kamo
Town Board (hereinafter called the said local authority) of a loan
of one thousand two hundred pounds (£1,200), to be known as
“Waterworks Supplementary Loan, 1946” (hereinafter called the
said loan):

And whereas the authority conferred by the said Order in
Council has not yet been exercised, and it is expedient to vary
certain of the determinations aforesaid in respect 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 vary certain of the determinations afore-
said in respect of the said loan by prescribing that in lieu of making
provision for the repayment of the said loan by establishing a sinking
fund in respect thereof, as specified in clause three of the said Order
in Council, the said local authority may raise the said loan or any
portion thereof upon terms of making the same, together with
interest thereon, repayable by equal aggregate annual or half-
yearly instalments extending over the term of twenty (20) years, as
specified in clause one of the said Order in Council.

W. O. HARVEY, Clerk of the Executive Council.
(T. 49/406/2.)

Consenting to Land being taken for Housing Purposes in the City
of Nelson

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 16th day of
April, 1947
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL
PURSUANT to the Public Works Act, 1928, 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, doth hereby consent to the land described in the
Schedule hereto being taken for housing purposes.

SCHEDULE

APPROXIMATE area of the piece of land permitted to be taken:
13 acres 2 perches.

Being part Sections 1, 2, 3, 7, and 8, Block H, District of Wakatu,
and Sections 255 and 256, and part Section 254, City of Nelson,
and being the whole of the land comprised and described in
Certificate of Title, Volume 92, folio 55 (Nelson Land Registry).
W. O. HARVEY, Clerk of the Executive Council.
(P.W. 80/34.)