Consenting to the Raising of a Loan of £1,667 by the Levels County Council and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General
By his Deputy,
H. F. O'LEARY
ORDER IN COUNCIL
At the Government House at Wellington, this 14th day of July, 1948
Present:
His Excellency the Governor-General in Council
WHEREAS the Levels County Council (hereinafter called the said local authority) proposes, pursuant to the provisions of section three of the Main Highways Amendment Act, 1928, to borrow the sum of one thousand six hundred and sixty-seven pounds (£1,667), by a loan to be known as "Main Highways Loan, 1948" (hereinafter called the said loan), for the purpose of providing the Council's share of the cost of reconstructing and sealing portion of the Saltwater Creek - Otipua section of the Main Otipua Main Highway:
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 by the said local authority of the said loan for the said purpose up to the amount of one thousand six hundred and sixty-seven pounds (£1,667), 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 be five (5) 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 a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.
(3) The said loan or any part thereof, together with interest thereon, shall be repaid by equal aggregate annual instalments extending over the term as determined in (1) above.
(4) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
T. J. SHERRARD, Clerk of the Executive Council.
(T. 49/256.)
Consenting to the Raising of a Loan of £445 by the Southbridge Town Board and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General
By his Deputy,
H. F. O'LEARY
ORDER IN COUNCIL
At the Government House at Wellington, this 14th day of July, 1948
Present:
His Excellency the Governor-General in Council
WHEREAS the Southbridge Town Board (hereinafter called the said local authority) proposes, pursuant to the provisions of section three of the Main Highways Amendment Act, 1928, to borrow the sum of four hundred and forty-five pounds (£445), by a loan to be known as "Main Highways Loan, 1948" (hereinafter called the said loan), for the purpose of paying its portion of the cost of reconstruction and sealing work on the Sockburn -Southbridge-Rakaia Huts Main Highway :
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 by the said local authority of the said loan for the said purpose up to the amount of four hundred and forty-five pounds (£445), 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 be five (5) 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 a rate exceeding 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 moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
T. J. SHERRARD, Clerk of the Executive Council.
(T. 49/448.)
Consenting to the Raising of Loans by certain Local Authorities and prescribing the Conditions thereof
B. C. FREYBERG, Governor-General
By his Deputy,
H. F. O'LEARY
ORDER IN COUNCIL
At the Government House at Wellington, this 14th day of July, 1948
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 respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the respective terms as determined in (1) above.
(4) The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.
(5) No amount shall be payable for brokerage, underwriting, or procurement fees in respect of the raising of the said respective loans or any parts thereof.
(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
SCHEDULE
|First Column.|Second Column.|Third Column.|Fourth Column.|Fifth Column.|
|---|---|---|---|---|
|Name of Local Authority.|Name of Loan|Amount of Loan.|Term of Loan|(Years).|Rate of Interest.|
|Rotorua Borough Council|Transit Housing Loan, 1948|£12,150|10|£ s. d.|
|Wellington City Council|Transit Housing Loan No. 2, 1948.|£10,000|10|3 0 0|
T. J. SHERRARD, Clerk of the Executive Council.
(T. 40/416/6.)