1480
THE NEW ZEALAND GAZETTE
[No. 60

Varying the Determinations in Respect of Portion (£337,600) of the Auckland City Council’s Loan of £1,698,000.

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

WHEREAS by Order in Council made on the 6th day of August 1952 (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 Auckland City Council (hereinafter called the said local authority) of an amount of five hundred thousand pounds (£500,000), being portion of a loan of one million six hundred and ninety-eight thousand pounds (£1,698,000) known as “Cossey’s Creek Development Loan 1951”:

And whereas the said amount of five hundred thousand pounds (£500,000) has not yet been raised and it is expedient to vary the determinations aforesaid in respect of portion thereof amounting to three hundred and thirty-seven thousand six hundred pounds (£337,600) (hereinafter called the said sum):

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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:—

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 four pounds (£4) per centum per annum.

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. 49/121)

Varying the Determinations in Respect of Portion (£438,000) of the Auckland Transport Board’s Loan of £2,450,000

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 16th day of July 1952 (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 Auckland Transport Board (hereinafter called the said local authority) of an amount of one million seven hundred and seventy-five thousand pounds (£1,775,000), being portion of a loan of two million four hundred and fifty thousand pounds (£2,450,000), known as “Modernization and Development Loan 1951”:

And whereas the said amount of one million seven hundred and seventy-five thousand pounds (£1,775,000) has not yet been raised and it is expedient to vary the determinations aforesaid in respect of portion thereof amounting to four hundred and thirty-eight thousand pounds (£438,000) (hereinafter called the said sum):

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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:—

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 four pounds (£4) per centum per annum.

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. 49/457/8)

Varying the Determinations in Respect of Portion (£458,000) of the Auckland Electric-power Board’s Loan of £500,000

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 3rd day of June 1952 (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 Auckland Electric-power Board (hereinafter called the said local authority) of a loan of five hundred thousand pounds (£500,000) to be known as “General Extension and Improvement Loan 1952”:

And whereas the authority conferred by the said Order in Council has not yet been exercised and it is expedient to vary the determinations aforesaid in respect of portion of the said loan amounting to four hundred and fifty-eight thousand pounds (£458,000) (hereinafter called the said sum):

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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:—

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 four pounds (£4) per centum per annum.