Nov. 4]

Amending an Order in Council Authorizing the Karamea Co-operative Dairy Factory Company, Limited, to Erect Certain Electric Lines in Portion of the County of Buller

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 3rd day of November, 1948

Present:

His Excellency The Governor-General In Council

PURSUANT to the Public Works Act, 1928, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, doth hereby amend, as set forth in the Schedule hereto, the Order in Council dated the eighth day of March, one thousand nine hundred and thirty-nine, and published in the Gazette on the ninth day of the same month at page 353, authorizing the Karamea Co-operative Dairy Factory Company, Limited, to lay, construct, put up, place, and use the electric lines therein referred to.

SCHEDULE

1. CLAUSE 3 of the Conditions is deleted, and the following clause is substituted therefor:—

“3. SYSTEM OF SUPPLY

“The system of supply shall be a direct-current system as described in paragraph (d) of clause 21-01 of the Electrical Supply Regulations 1935.”

2. Clause 5 of the Conditions is deleted.

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

(S.H.D. 11/20/732.)

Revoking a Licence Authorizing Stephen De Filippi, of Koiterangi, Farmer, to Use Water for the Purpose of Generating Electricity and to Erect Certain Electric Lines

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 27th day of October, 1948

Present:

His Excellency The Governor-General In Council

PURSUANT to the Public Works Act, 1928, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, and with the consent of the licensee, doth hereby revoke the Order in Council dated the second day of November, one thousand nine hundred and thirty-eight, and published in the Gazette on the third day of the same month, at page 2302, authorizing Stephen De Filippi, of Koiterangi, Farmer, to use water for the purpose of generating electricity, and to erect certain electric lines.

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

(S.H.D. 11/20/63.)

Consenting to the Raising of a Loan of £23,400 by the Dunedin City Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 27th day of October, 1948

Present:

His Excellency The Governor-General In Council

WHEREAS the Dunedin City Council (hereinafter called the said local authority), being desirous of raising a loan of twenty-three thousand four hundred pounds (£23,400), to be known as “Repayment Loan, 1949” (hereinafter called the said loan), for the purpose of redeeming on the first day of July, one thousand nine hundred and forty-nine, the Renewal Loan, 1934, £356,000, Part I, £156,000, which matures on the first day of January, one thousand nine hundred and fifty-four, 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 twenty-three thousand four hundred pounds (£23,400), 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 four and one-half (4½) 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 local authority shall, before raising the said loan or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies' Loans Act, 1926, or under such other statutory enactment as may be applicable, and shall thereafter make payments to such sinking fund at intervals of not more than one year at a rate or rates per centum which shall be not less than eighteen pounds sixteen shillings (£18 16s.), such payments to be made in respect of every part of the said loan for the time being so borrowed and not repaid, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on the said loan or any part thereof so raised.

(4) The payment of interest and the repayment of principal in respect of the said loan shall be made in New Zealand.

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

(6) The rate payable for brokerage, underwriting, and procurement 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 the 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. 49/254/24.)

Consenting to the Raising of a Loan of £27,000 by the Rotorua Borough Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 27th day of October, 1948

Present:

His Excellency The Governor-General In Council

WHEREAS the Rotorua Borough Council (hereinafter called the said local authority), being desirous of raising a loan of twenty-seven thousand pounds (£27,000), to be known as “Waterworks Purchase Loan, 1948” (hereinafter called the said loan), for the purpose of purchasing the Rotorua Waterworks and Inner Area Sewer Undertakings from the Department of Tourist and Health Resorts, together with all stock relating to these undertakings, 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 twenty-seven thousand pounds (£27,000), 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 twenty-five (25) 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 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-moneys.

(6) The rate payable for brokerage, underwriting, and procurement 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. 49/427/20.)

Consenting to the Raising of a Loan of £2,250 by the Levels County Council and Prescribing the Conditions thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 27th day of October, 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 two thousand two hundred and fifty pounds (£2,250), by a loan to be known as “Main Highways Loan, No. 2, 1948” (hereinafter called the said loan), for the purpose of providing the Council's share of the additional cost of reconstructing and sealing portion of the Main Otipua Main Highway: