1478
THE NEW ZEALAND GAZETTE
[No. 60

3. The said sum or any part thereof shall be repaid by the half-yearly redemption of debentures 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.

SCHEDULE

4. The payment of interest and redemptions in respect of the said sum shall be made in New Zealand.

5. No amount payable either as interest or as a redemption in respect of the said sum shall be paid out of loan-moneys.

6. The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said sum or any part thereof shall not in the aggregate exceed three-quarters 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. 49/393/16)

Consenting to the Raising of the Balance (£17,100) of the Waipa County Council’s Loan of £69,600 and Prescribing the Conditions Thereof

H. F. O’LEARY,
Administrator of the Government

ORDER IN COUNCIL

At the Government House at Wellington, this 27th day of August 1952

Present:

HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL

WHEREAS by a poll of the ratepayers taken on the 4th day of March 1937 authority was given to the raising by the Waipa County Council (hereinafter called the said local authority) of the sum of sixty-nine thousand six hundred pounds (£69,600) in two portions of fifty-four thousand six hundred pounds (£54,600) known as “Roads and Bridges Loan No. 2 1936” and fifteen thousand pounds (£15,000) known as “Roads and Bridges Loan No. 3 1936”:

And whereas the unraised portion of the Roads and Bridges Loan No. 2 1936, amounting to forty-one thousand six hundred pounds (£41,600) and the Roads and Bridges Loan No. 3 1936 of fifteen thousand pounds (£15,000) were amalgamated into one loan of fifty-six thousand six hundred pounds (£56,600):

And whereas by Orders in Council made on the 17th day of January 1940 and the 18th day of January 1950 consent was given to the raising of twenty-three thousand five hundred pounds (£23,500) and sixteen thousand pounds (£16,000) respectively, being portions of the loan of fifty-six thousand six hundred pounds (£56,600):

And whereas the said local authority is now desirous of raising the balance amounting to seventeen thousand one hundred pounds (£17,100) (hereinafter called the said sum) and it is expedient that the precedent consent of the Governor-General in Council, as required by the Local Government Loans Board Act 1926 (hereinafter called the said Act) should be given to the raising of the said sum:

Now, therefore, pursuant to section 11 of the said Act, as set out in section 29 of the Finance Act 1932 (No. 2), His Excellency the Administrator of the Government, acting by and with the advice and consent of the Executive Council, hereby consents to the raising in New Zealand by the said local authority of the said sum up to the amount of seventeen thousand one hundred pounds (£17,100), and in giving such consent hereby determines as follows:—

1. The term for which the said sum or any part thereof may be raised shall not exceed twenty (20) 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 four pounds (£4) 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 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 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. 49/155/50)

Varying the Determinations in Respect of the Auckland City Council’s Loan of £11,000

H. F. O’LEARY,
Administrator of the Government

ORDER IN COUNCIL

At the Government House at Wellington, this 3rd day of September 1952

Present:

HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL

WHEREAS by Order in Council made on the 6th day of August 1952, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Auckland City Council (hereinafter called the said local authority) of a loan of eleven thousand pounds (£11,000) to be known as “Municipal Abattoir Improvement Loan 1952” (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:

Now, therefore, pursuant to section 11 of the Local Government Loans Board Act 1926, as set out in section 29 of the Finance Act 1932 (No. 2), His Excellency the Administrator of the Government, acting by and with the advice and consent of the Executive Council, hereby cancels the aforesaid determinations in respect of the said loan and in lieu thereof makes the following determinations:—

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 four pounds (£4) per centum per annum.

3. The said loan or any part thereof shall be repaid by the half-yearly redemption of debentures 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.

SCHEDULE

4. The payment of interest and redemptions in respect of the said loan shall be made in New Zealand.

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

6. The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said loan or any part thereof shall not in the aggregate exceed three-quarters 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. 49/121/83)