300 THE NEW ZEALAND GAZETTE [No. 15

Consenting to the Raising of a Loan of £6,560 by the Christchurch
City Council and prescribing the Conditions thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 10th day of
March, 1948.

Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS the Christchurch City Council (hereinafter called
the said local authority), being desirous of raising a loan
of six thousand five hundred and sixty pounds (£6,560), to be known
as Abattoir Improvements Loan, 1947 (hereinafter called the said
loan), for the purpose of effecting improvements to the abattoir
accommodation and water-supply, 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 six thousand five hundred
and sixty pounds (£6,560), 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 (£3) 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

(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 procuration 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.

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

(T. 49/268/43.)

Consenting to the Raising of a Portion (£12,500) of the Central
Hawke's Bay Electric-power Board's Loan of £50,000 and
prescribing the Conditions thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 3rd day of
March, 1948

Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS the Central Hawke's Bay Electric-power Board
(hereinafter called the said local authority), being desirous
of raising a loan of fifty thousand pounds (£50,000), to be known
as “Reticulation Loan, 1947” (hereinafter called the said loan), for
the purpose of further reticulating the Board's district, has complied
with the provisions of the Local Government Loans Board Act,
1926 (hereinafter called the said Act) :

And whereas consent has already been given to the raising of
a portion of the said loan amounting to twelve thousand five hundred
pounds (£12,500), and the said local authority is arranging to raise
a further portion amounting to twelve thousand five hundred pounds
(£12,500) (hereinafter called the said sum), 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 sum :

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 sum
for the said purpose up to the amount of twelve thousand five hundred
pounds (£12,500), and in giving such consent doth hereby determine
as follows :—

(1) The term for which the said sum 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 sum or any part thereof shall be such as shall not produce to
the lender or lenders a rate or rates exceeding three pounds two
shillings and sixpence (£3 2s. 6d.) per centum per annum.

(3) The said sum or any part thereof shall be repaid by the
half-yearly redemption of debentures in the half-years set out in
the first column of the Schedule hereunder of the amounts stated
opposite each such half-year in the second column of the said
Schedule.

SCHEDULE

(4) The payment of interest and redemptions in respect of
the said sum shall be made in New Zealand.

(5) No amount payable either as interest or as a redemption
in respect of the said sum shall be paid out of loan-money.

(6) The rate payable for brokerage, underwriting, and procuration fees in respect of the raising of the said sum 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.

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

(T. 49/224/8.)

Consenting to the Raising of the Balance (£5,000) of the Waipa
County Council's Loan of £10,000 and prescribing the Conditions
thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 10th day of
March, 1948

Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the eighteenth day
of December, one thousand nine hundred and forty-five,
and subject to the determinations as to borrowing and repayment
therein set out, consent was given to the raising by the Waipa
County Council (hereinafter called the said local authority) of a loan
of ten thousand pounds (£10,000), to be known as “Workers'
Dwellings Loan, 1945” (hereinafter called the said loan) :

And whereas the authority conferred by the said Order in
Council has not yet been exercised to the extent of five thousand
pounds (£5,000) :

And whereas the authority has lapsed in accordance with the
provisions of clause six of the said Order in Council, and it is not
now lawful or competent for the said local authority to raise the
balance of the said loan or any portion thereof, except in accordance
with the provisions of a further Order in Council that may be issued
pursuant to section eleven of the Local Government Loans Board
Act, 1926 (hereinafter called the said Act) :