50
THE NEW ZEALAND GAZETTE
[No. 2

Consenting to the Raising of a Loan of £13,000 by the Wairere
Electric-power Board and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of
December, 1948
Present:
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Wairere Electric-power Board (hereinafter
called the said local authority), being desirous of raising a
loan of thirteen thousand pounds (£13,000), to be known as
“Generation Loan, 1947” (hereinafter called the said loan), for the
purpose of purchasing and installing additional generating plant at
Wairere Falls, has complied with the provisions of the Local Govern-
ment 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 thirteen thousand pounds (£13,000),
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 shall be free of principal repayments during
the first year from the date of the borrowing thereof.

(4) Thereafter the said loan, together with interest thereon,
shall be repaid by equal aggregate annual or half-yearly instalments
extending over the balance of the term amounting to twenty-four
(24) years.

(5) The payment of interest for the first year and thereafter
the payment of the instalments of principal and interest shall be
made in New Zealand.

(6) No interest after the first year and no instalments of
principal and interest shall be paid out of loan-moneys.

(7) The rate 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.

(8) 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. 49/398/11.)

Consenting to the Raising of a Loan of £30,000 by the Wellington
City Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of
December, 1948
Present:
His EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Wellington City Council (hereinafter called the
said local authority) proposes, pursuant to the terms of a
requisition issued under section twenty-two of the Health Act,
1920, to raise a loan of thirty thousand pounds (£30,000) to be known
as “Water-supply Loan, 1948” (hereinafter called the said loan),
for the purposes of providing a temporary additional supply of water
for Wellington City :

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 in New Zealand by the said local
authority of the said loan for the said purpose up to the amount of
thirty thousand pounds (£30,000), 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 (20) 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, together with interest
thereon, shall be repaid by equal aggregate annual or half-yearly
instalments extending over the term as determined in (1) above.

(4) The payment of such instalments shall be made in New
Zealand, and no instalments shall be paid out of loan-moneys.

(5) 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.

(6) 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. 49/168.)

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 15th day of December, 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.