APRIL 13] THE NEW ZEALAND GAZETTE 907

Consenting to the Raising of Portion (£6,000) of the Te Kuiti Borough
Council's Loan of £30,000 and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 30th day of
March, 1949

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the twenty-second
day of October, 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 by the Te Kuiti Borough Council
(hereinafter called the said local authority) of the sum of ten thousand
pounds (£10,000), being portion of the balance unraised of a loan of
thirty thousand pounds (£30,000) authorized by Order in Council
made on the tenth day of May, one thousand nine hundred and
thirty-nine, and therein called “Waterworks Improvement Loan,
1939”:

And whereas the authority conferred by the said Order in Council
has lapsed in accordance with the provisions of clause seven thereof,
and it is not now lawful or competent for the said local authority
to raise the said sum of ten thousand pounds (£10,000) 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 an amount of six thousand pounds (£6,000)
(hereinafter called the said sum) has not yet been raised 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 six thousand pounds (£6,000) for the purpose for which
the said loan was authorized and in giving such consent doth hereby
determine as follows:—

(1) 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.

(2) The said sum shall be repaid by half-yearly instalments in
the half-years set out in the first column of the Schedule hereunder
of the amounts stated opposite each such half-year in the second
column of the said Schedule, the first such instalment to be paid
on the twenty-second day of July, one thousand nine hundred and
sixty-three, and thereafter the instalments are to be paid half-yearly
on the twenty-second day of January and July in each year up to
and including the twenty-second day of July, one thousand nine
hundred and seventy-seven.

SCHEDULE OF INSTALMENTS

First Column. Second Column. First Column. Second Column.
——— ——— ——— ———
Half-year. Amount. Half-year. Amount.

£ £
1st . . . 100 16th . . . 200
2nd . . . 100 17th . . . 200
3rd . . . 200 18th . . . 200
4th . . . 200 19th . . . 200
5th . . . 100 20th . . . 300
6th . . . 200 21st . . . 200
7th . . . 200 22nd . . . 200
8th . . . 200 23rd . . . 300
9th . . . 200 24th . . . 200
10th . . . 200 25th . . . 200
11th . . . 200 26th . . . 300
12th . . . 200 27th . . . 200
13th . . . 200 28th . . . 300
14th . . . 200 29th . . . 300
15th . . . 200

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

(4) No amount payable either as interest or as an instalment in
respect of the said sum shall be paid out of loan-moneys.

(5) The rate payable for brokerage, underwriting, and pro-
curation 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.

(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. 49/296/7.)
B

Consenting to the Raising of Portion (£35,000) of the Bay of Islands
Electric-power Board's Loan of £55,000 and Prescribing the
Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 30th day of
March, 1949

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS the Bay of Islands Electric-power Board (herein-
after called the said local authority) being desirous of raising
a loan of fifty-five thousand pounds (£55,000) to be known as
“Reticulation Extension Loan No. 5, 1949” (hereinafter called the
said loan), for the purpose of further reticulating the Board's district,
has complied with the provisions of the Local Government Loans
Board Act, 1926 (hereinafter called the said Act):

And whereas the said local authority is arranging to raise a
portion thereof amounting to thirty-five thousand pounds (£35,000)
(hereinafter called the said sum), 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 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 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 for the said purpose up to the amount of thirty-five thousand
pounds (£35,000), 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-five (25) 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, 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 pro-
curation 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.

(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. 49/664/6.)

Varying the Determinations in Respect of Portion (£23,800) of the
Ashburton County Council's Loan of £30,000 by Extending the
Term within which the said Sum may be Borrowed

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL

At the Government Buildings at Wellington, this 30th day of
March, 1949

Present:

THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the fourteenth day
of May, one thousand nine hundred and forty-seven (herein-
after called the said Order in Council), and subject to the determina-
tions as to borrowing and repayment therein set out, consent was
given to the raising in New Zealand by the Ashburton County
Council (hereinafter called the said local authority) of a loan of
thirty thousand pounds (£30,000), to be known as Machinery Loan,
1946 (hereinafter called the said loan):

And whereas the authority conferred by the said Order in
Council has not been exercised to the extent of twenty-three
thousand eight hundred pounds (£23,800) (hereinafter called the
said sum), and it is expedient to extend the term as specified in
clause seven 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 four (4) years from the date thereof.

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

(T. 49/470/8.)