OCT. 14]

THE NEW ZEALAND GAZETTE

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 6th day of October, 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

| First Column.
| Second Column.
| Third Column.
| Fourth Column.
| Fifth Column.
| Name of Local Authority.
| Name of Loan.
| Amount of Loan.
| Term of Loan
| Rate of Interest.
|
|
|
|
| (Years).
| £
|
| £ s. d.
| Castlepoint County Council ...
| Tinui River Bridge Loan, 1948
| 5,000
| 20
| 3 5 0
| Central Waikato Electric-power Board ..
| Special Loan, 1948
| 60,000
| 20
| 3 5 0
| Wairere Electric-power Board ..
| Rural Reticulation Loan, 1948
| 20,000
| 25
| 3 5 0
|
T. J. SHERRARD, Clerk of the Executive Council.
(T. 40/416/6.)

Varying the Determinations in Respect of Portion (£25,000) of the New Plymouth Harbour Board's Loan of £600,000 by Extending the Term Within Which the Said Sum May be Borrowed

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 6th day of October, 1948
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 (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 New Plymouth Harbour Board (hereinafter called the said local authority) of the sum of twenty-five thousand pounds (£25,000) (hereinafter called the said sum), being portion of a loan of six hundred thousand pounds (£600,000):
And whereas the said sum has not yet been raised, and it is expedient to extend the term, as specified in clause six of the said Order in Council, within which the said sum or any portion thereof may be raised:
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 the determinations aforesaid in respect of the said sum by prescribing that no moneys shall be borrowed under the consent given by the said Order in Council after the expiration of three (3) years from the date thereof.
T. J. SHERRARD, Clerk of the Executive Council.
(T. 49/202/6.)

Varying the Determinations in Respect of Portion (£20,000) of the Tararua Electric-power Board's Loan of £38,000

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 6th day of October, 1948
Present:
His Excellency THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Order in Council made on the twenty-sixth day of May, one thousand nine hundred and forty-eight (hereinafter referred to as 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 Tararua Electric-power Board (hereinafter referred to as the said local authority) of the sum of twenty thousand pounds (£20,000) (hereinafter referred to as the said sum), being portion of a loan to be known as “Supplementary Loan, 1947, £38,000”:
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 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 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 aforesaid in respect of the said sum by prescribing that in lieu of repayment by equal aggregate annual or half-yearly instalments of principal and interest, as specified in clause three of the said Order in Council, the said sum shall be repaid by equal half-yearly instalments of principal extending over the term as determined in clause one of the said Order in Council.
T. J. SHERRARD, Clerk of the Executive Council.
(T. 49/188/5.)