DEC. 8] THE NEW ZEALAND GAZETTE 2781

And whereas the said local authority is arranging to raise a
portion of the said loan amounting to twenty-five thousand pounds
(£25,000) (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:

And whereas it is expedient that after the date hereof no moneys
should be borrowed under the authority of the Order in Council
made on the ninth day of November, one thousand nine hundred
and forty-nine, in so far as such Order in Council relates to the
said local authority's loan known as "Roads Improvement Loan,
1949" of one hundred and twenty-four thousand four hundred and
twenty-five pounds (£124,425) :

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 twenty-five thousand
pounds (£25,000), 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 fifteen (15) 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.

(7) No moneys shall be borrowed under the authority of the
Order in Council made on the ninth day of November, one thousand
nine hundred and forty-nine, after the date hereof in so far as such
Order in Council relates to the said local authority’s loan known as
“Roads Improvement Loan, 1949” of one hundred and twenty-
four thousand four hundred and twenty-five pounds (£124,425).

T. J. SHERRARD,

Clerk of the Executive Council.

(T. 49/228/30.)

Consenting to the Raising of a Loan of £2,400 by the Martinborough
Borough Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 6th day of
December, 1949
Present :

His Excellency the Governor-General in Council
WHEREAS the Martinborough Borough 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 two thousand four hundred pounds
(£2,400) to be known as “Chlorination Plant Loan, 1949” (herein-
after called the said loan) to provide water-works for the chlorination
of the Martinborough water-supply :

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 two thousand four hundred pounds (£2,400), 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 fifteen (15) 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 pro-
curation 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. 49/161.)

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 December, 1949
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 procuration 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.|Name of Local Authority.|Second Column.|Name of Loan.|Third Column.|Amount of Loan.|Fourth Column.|Term of Loan|(Years).|Fifth Column.|Rate of Interest|
|Mangonui Hospital Board|...|Kaitaia Nurses' Home Extension Additional Loan, 1949|8,000|25|£ s. d.|3 5 0|
|Otorohanga County Council|...|Tauraroa Bridges Loan, 1949|1,000|20|£ s. d.|3 5 0|
|Palmerston North Hospital Board|...|Building Loan, 1949|66,000|20|£ s. d.|3 5 0|

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

(T. 40/416/6.)