600 THE NEW ZEALAND GAZETTE [No. 36

Allocating Railway Land to the Purposes of Road in Block VIII, Maungakaretu Survey District, and Blocks IX and XIII, Moawhango Survey District

[L.S.]

B. C. FREYBERG, Governor-General

A PROCLAMATION

PURSUANT to section 226 of the Public Works Act, 1928, I, Lieutenant-General Sir Bernard Cyril Freyberg, the Governor-General of the Dominion of New Zealand, do hereby proclaim and declare that the land which is described in the Schedule hereto (and which was taken for the North Island Main Trunk Railway and is not now required for such purpose) shall, upon the publication hereof in the New Zealand Gazette, become road, and that such road shall be maintained by the Main Highways Board in like manner as other public highways are controlled and maintained by the said Board.

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SCHEDULE

In the Wellington 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 red.

Given under the hand of His Excellency the Governor-General of the Dominion of New Zealand, and issued under the Seal of that Dominion, this 24th day of April, 1951.

W. S. GOOSMAN, Minister of Works.

GOD SAVE THE KING!

(P.W. 70/8/29/0.)

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Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof

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B. C. FREYBERG, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 10th day of April, 1951

Present:

THE RIGHT HON. S. G. HOLLAND PRESIDING 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 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 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.

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SCHEDULE

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

(T. 40/416/6.)