Oct. 7] THE NEW ZEALAND GAZETTE 1255

authority of the said loan for the said purpose up to the amount of
one hundred and fifty-one thousand pounds (£151,000), 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 thirty (30) 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 exceeding three pounds five shillings (£3 5s.)
per centum per annum.

(3) The said loan or any part thereof 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 payment of interest and the redemptions in respect
of the said loan shall be made in New Zealand.

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

(6) The rate payable for brokerage, underwriting, and procu-
ration 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.

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

(T. 49/268.)

Consenting to the Raising of a Loan of £15,500 by the Hawke’s Bay
Hospital Board and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 29th day of
September, 1948
Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Hawke’s Bay Hospital Board (hereinafter
called the said local authority), being desirous of raising a
loan of fifteen thousand five hundred pounds (£15,500), to be known
as “Laundry Equipment Loan, 1948” (hereinafter called the said
loan), for the purpose of purchasing equipment for the laundry at
Napier Hospital, 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 autho-
rities 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 fifteen thousand five hundred
pounds (£15,500), 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 ten (10) 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 pro-
curation 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.

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

(T. 49/237/8.)

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 29th day of September, 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) 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) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE

(T. 40/416/6.) T. J. SHERRARD, Clerk of the Executive Council.