up to an amount of one thousand pounds (£1,000) for the purpose
for which the said loan was authorized, 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 thirty-five (35) 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 five shillings
(£3 5s.) per centum per annum.

(3) The said local authority shall, before raising the said sum
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 one pound thirteen shillings and one penny
(£1 13s. 1d.), such payments to be made in respect of every part of
the said sum 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 sum or any part thereof so raised.

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

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

(6) The rate payable for brokerage, underwriting, and procura-
tion 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,
Clerk of the Executive Council.
(T. 49/319/10.)

Consenting to the Raising of the Balance (£16,350) of the Tararua
Electric-power Board's Loan of £40,000 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 1st day of
December, 1948
Present:

His Excellency The Governor-General In Council
WHEREAS by Order in Council made on the sixth day of
October, one thousand nine hundred and thirty-eight, and
subject to the determinations as to borrowing and repayment
therein set out, consent was given to the raising by the Tararua
Electric-power Board (hereinafter called the said local authority)
of a loan of forty thousand pounds (£40,000) to be known as "Akitio
County Reticulation Loan, 1938" (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 sixteen thousand
three hundred and fifty pounds (£16,350):
And whereas the authority conferred by the said Order in
Council has lapsed in accordance with the provisions of clause (6)
of the said Order in Council, and it is not now lawful or competent
for the said local authority to raise 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):
And whereas the said local authority is now desirous of raising
the balance of the said loan amounting to sixteen thousand three
hundred and fifty pounds (£16,350) (hereinafter called the said sum)
and it is expedient to authorize the said local authority to raise
the said sum on the conditions hereinafter set out:
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 up to the
amount of sixteen thousand three hundred and fifty pounds (£16,350)
for the purpose for which the said loan was authorized, 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 five
shillings (£3 5s.) per centum per annum.

(3) The said sum or any part thereof shall be repaid by equal
half-yearly instalments of principal extending over the term as
determined in (1) above.

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

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

(6) The rate payable for brokerage, underwriting, and procura-
tion 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,
Clerk of the Executive Council.
(T. 49/188/3.)

Validating Proceedings in Connection with the Awatere County
Council's Loan of £4,500

B. C. FREYBERG, Governor-General
By his Deputy,
H. F. O'LEARY
ORDER IN COUNCIL
At the Government House at Wellington, this 1st day of
December, 1948
Present:

His Excellency The Governor-General In Council
WHEREAS the Awatere County Council lately proceeded by
way of Special Order to raise a loan of four thousand five
hundred pounds (£4,500) to be known as "Housing Loan, 1948"
(hereinafter called the said loan):
And whereas the proceedings in connection with the said loan
were irregular or defective in that the public notice of the resolution
to make the Special Order authorizing the raising of the loan
although given once in each of four weeks was not given once in
each of the four weeks immediately preceding the day on which
the meeting was held for the purpose of confirming that resolution
as required by paragraph (c) of subsection (1) of section ninety-nine
of the Counties Act, 1920:
And whereas it appears that the ratepayers of the district have
not been misled by such irregularity or defect as aforesaid and it is
expedient to validate the same:
Now, therefore, His Excellency the Governor-General of the
Dominion of New Zealand, in pursuance and exercise of the powers
and authorities conferred on him by section one hundred and twenty-
two of the Local Bodies' Loans Act, 1926, and acting by and with
the advice and consent of the Executive Council of the said Dominion,
doth hereby order and declare that the proceedings in connection
with the said loan shall be valid to all intents and purposes as though
the said public notice had been correctly given, and that the validity
of the proceedings in connection with the said loan or of the security
for the said loan, shall not be called in question by reason only of
the irregularity or defect aforesaid.

T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/442/9.)

Consenting to Stopping Road in Block X, Kaipara Survey District,
Waitemata County

B. C. FREYBERG, Governor-General
By his Deputy,
H. F. O'LEARY
ORDER IN COUNCIL
At the Government House at Wellington, this 1st day of
December, 1948
Present:

His Excellency The Governor-General In Council
PURSUANT to section one hundred and forty-nine of the Public
Works Act, 1928, 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, doth hereby
consent to the Waitemata County Council stopping the portions
of road described in the Schedule hereto.

SCHEDULE

Approximate Areas of the Adjoining or Passing Through Shown on Plan
Pieces of Road Permitted to be Stopped.

A. R. P.
0 1 23.4 Part Allotment 68, Kaukapakapa Parish, on D.P. 16016, and part
of western portion of Allotment 11, Kaukapakapa Parish
(S.O. 34655.)

1 0 36.8 Part Allotment 6, and part of western portion of Allotment 11,
and Lot 2, D.P. 32837, being part Allotment 6, Kaukapakapa
Parish
(S.O. 34659.)

Situated in Block X, Kaipara Survey District (Auckland R.D.).
In the North Auckland Land District; as the same are more
particularly delineated on the plans marked as above mentioned,
deposited in the office of the Minister of Works at Wellington, and
thereon coloured green.

T. J. SHERRARD,
Clerk of the Executive Council.
(P.W. 34/2048.)