JULY 19] THE NEW ZEALAND GAZETTE 1007

the said loan for the said purpose up to the amount of six thousand
pounds (£6,000), 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 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 repaid 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. 49/443)

Consenting to the Raising of a Loan of £1,129 by the Hauraki
Catchment Board and Prescribing the Conditions Thereof

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

At the Government House at Wellington, this 11th day of
July, 1951

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Hauraki Catchment Board (hereinafter called
the said local authority) proposes pursuant to the provisions
of section 30 of the Soil Conservation and Rivers Control Act, 1941,
to raise a loan of one thousand one hundred and twenty-nine
pounds (£1,129), to be known as “ Plant Loan No. 4, 1951 ” (here-
inafter called the said loan), for the purpose of purchasing plant :
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 one thousand
one hundred and twenty-nine pounds (£1,129), 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 eight (8) 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 repaid 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. 49/735)

Consenting to the Raising of a Loan of £23,390 by the Invercargill
City Council and Prescribing the Conditions Thereof

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

At the Government House at Wellington, this 11th day of
July, 1951

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS under the authority of clause 16 of the Invercargill
City Loans Conversion Order, 1934, the Invercargill City
Council (hereinafter called the said local authority) stipulated in
certain of the securities issued pursuant to such Order for the
redemption thereof at the option of the said local authority on such
date prior to that specified in the securities as the said local authority
might fix in that behalf by notice to be published in the Gazette at
least six (6) months before such prior date :
And whereas the said local authority proposes, in exercise of
such option, to redeem on the 1st day of November, 1951, certain of
such securities amounting in the aggregate to the sum of twenty-three
thousand three hundred and ninety pounds (£23,390), the date
specified in such securities for the redemption thereon being the
1st day of November, 1956 :
And whereas the said local authority being desirous for the
purpose of giving effect to such proposal of raising a loan of twenty-
three thousand three hundred and ninety pounds (£23,390), to be
known as “ Conversion Redemption Loan No. 9, 1951 ” (hereinafter
called the said loan), has complied with the provisions of the Local
Government Loans Board Act, 1926, and it is expedient that the
precedent consent of the Governor-General in Council, as required
by such 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 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 in New Zealand by the said local
authority of the said loan for the said purpose up to the amount of
twenty-three thousand three hundred and ninety pounds (£23,390),
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 five (5) 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 exceeding three pounds two shillings and
sixpence (£3 2s. 6d.) per centum per annum.

(3) The said loan shall be repaid by one instalment of principal
from sinking fund of twenty-three thousand three hundred and
ninety pounds (£23,390) on the 1st day of November, 1956.

(4) It shall not be necessary to establish a separate sinking
fund for the redemption loan of twenty-three thousand three hundred
and ninety pounds (£23,390), and the proviso to subsection (3) of
section 32 of the Finance Act, 1938 (as set out in subsection (2) of
section 29 of the Finance Act, 1941), shall apply, and accordingly,
the provisions of subclause (2) of clause 20 of the Invercargill City
Loans Conversion Order, 1934, shall be construed as if the debentures
amounting to twenty-three thousand three hundred and ninety
pounds (£23,390) redeemed on the 1st day of November, 1951, had
not been redeemed as at that date but had been redeemed on the
date specified in clause 3 hereof.

(5) The payment of interest and the instalment of principal in
respect of the said loan shall be made in New Zealand and no amount
payable as interest or principal shall be paid out of loan-moneys.

(6) The amount payable for brokerage, underwriting, and
procuration fees in respect of the raising of the said loan or any
part thereof shall not in the aggregate exceed one-quarter per centum
of any amount raised.

(7) 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. 49/233/28)

Consenting to the Raising of a Loan of £5,000 by the Tararua
Electric-power Board and Prescribing the Conditions Thereof

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

At the Government House at Wellington, this 11th day of
July, 1951

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Tararua Electric-power Board (hereinafter
called the said local authority) being desirous of raising a
loan of five thousand pounds (£5,000), to be known as “ Housing
Loan, 1951 ” (hereinafter called the said loan), for the purpose of
buying land and erecting two houses for employees, 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 five thousand pounds (£5,000), 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 or any part thereof shall be repaid by equal
half-yearly instalments of principal extending over the term of the
loan as determined in (1) above.

(4) The payment of interest and the repayment of principal in
respect of the said loan shall be made in New Zealand.

(5) No amount payable either as interest or as principal in
respect of the said loan shall be paid out of loan-moneys.

(6) The rate payable for brokerage, underwriting, and procuра-
tion 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.

(7) 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. 49/188/6)