Jan. 18] THE NEW ZEALAND GAZETTE 41

Consenting to the Raising of a Loan of £300 by the Naseby Borough
Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 20th day of
December, 1950

Present:

THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL

WHEREAS the Naseby Borough Council (hereinafter called the
said local authority) proposes, pursuant to the provisions
of section 49 of the Fire Services Act, 1949, to borrow the sum of
three hundred pounds (£300) by a loan to be known as “ Fire Services
Loan, 1950 ” (hereinafter called the said loan), for the purpose of
meeting the cost of purchase of a pump supplied to the said local
authority by the Fire Service Council :

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 11 of the Local Government Loans Board Act, 1926,
as set out in section 29 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 by the said local authority of the said
loan for the said purpose up to the amount of three hundred pounds
(£300) 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 be ten (10) 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 a rate exceeding three pounds ten shillings (£3 10s.) per centum
per annum.

(3) The said loan or any part thereof, together with interest
thereon, shall be paid by equal aggregate annual instalments
extending over the term as determined in (1) above.

(4) 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. 49/788.)

Consenting to the Raising of a Loan of £20,000 by the Dunedin City
Council and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 20th day of
December, 1950

Present:

THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL

WHEREAS the Dunedin City Council (hereinafter called the
said local authority) being desirous of raising a loan of
twenty thousand pounds (£20,000) to be known as “ Housing Loan,
1950 ” (hereinafter called the said loan), for the purpose of erecting
dwellings for elderly persons, 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 11 of the said Act, as set out in section 29 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 thousand pounds
(£20,000) 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 thirty (30) 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 a rate exceeding three pounds (£3) 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 payments of such instalments shall be made in New
Zealand, and no instalments shall be paid out of loan-moneys.

(5) No amount shall be payable for brokerage, underwriting,
or procurement fees in respect of the raising of the said loan or any
part thereof.

(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. 49/254/41.)

Varying the Determination in Respect of the Invercargill City Council’s
Loan of £80,000

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 20th day of
December, 1950

Present:

THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 26th day of July,
1950 (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 in New Zealand
by the Invercargill City Council (hereinafter called the said local
authority) of an amount of thirty thousand pounds (£30,000) being
portion of a loan of eighty thousand pounds (£80,000) known as
“ Street Works and Services Loan, 1948 ” :

And whereas the said amount of thirty thousand pounds
(£30,000) has not yet been raised and it is expedient to vary certain
of the determinations aforesaid in respect of part of the said amount
of thirty thousand pounds (£30,000) amounting to ten thousand
pounds (£10,000) (hereinafter called 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 11 of the Local Government Loans Board Act, 1926, as set out in
section 29 of the Finance Act, 1932 (No. 2), and of all other powers
and authorities enabling him in this behalf, doth hereby vary certain
of the determinations aforesaid in respect of the said sum by pre-
scribing that in lieu of provision being made for the repayment of
the said sum by the establishment of a sinking fund in respect
thereof, as specified in clause (3) of the said Order in Council, the
said sum shall be repaid by the half-yearly redemption of debentures
on the dates set out in the first column of the Schedule hereto of
the amounts stated opposite each such date in the second column
of the said Schedule : Provided that the said local authority shall,
in respect of the redemption of the debenture for one thousand
nine hundred pounds (£1,900) maturing on the 1st day of March,
1956, and 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
eighteen pounds sixteen shillings and eightpence (£18 16s. 8d.),
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 debenture.

SCHEDULE

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

(T. 49/233/37.)

Varying the Determinations in Respect of the Invercargill City Council’s
Loan of £140,000

B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 20th day of
December, 1950

Present:

THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 6th day of
December, 1949, and subject to the determinations as to
borrowing and repayment therein set out, consent was given to the
raising in New Zealand by the Invercargill City Council (hereinafter
called the said local authority) of a loan of one hundred and forty
thousand pounds (£140,000) to be known as “ Transport Loan, 1949 ”
(hereinafter called the said loan) :

And whereas the said loan has not yet been raised and it is
expedient to vary certain of the determinations aforesaid in respect
of the said loan :