1636

THE NEW ZEALAND GAZETTE

[No. 64

Varying the Determinations in Respect of Loans or Portions Thereof Being Raised by Certain Local Authorities

H. F. O'LEARY,

Administrator of the Government
ORDER IN COUNCIL
At the Government House at Wellington, this 24th day of September 1952
Present:
HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans stated in the second column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council :
And whereas the authorities conferred by the said Orders in Council have not been exercised in respect of each respective loan to the extent specified in the fourth column of the said Schedule opposite each such loan :
And whereas it is expedient to vary the determinations of each respective loan in so far as such determinations apply to the raising of the sum specified in the fifth column of the said Schedule opposite each such loan (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 varies in respect of each loan referred to in the Schedule hereto, certain of the aforesaid determinations in respect of the raising of such loan in so far as such determinations apply to the raising of the said sum, by prescribing that in lieu of the rate of interest as specified in the Order in Council authorizing the raising of such loan, 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.
SCHEDULE
First Column.
Name of Local Authority.
Second Column.
Name of Loan.
Third Column.
Date of Consenting Order in Council and Amount Thereby Authorized.
Fourth Column.
Amount of Loan Unraised.
Fifth Column.
Sum in Respect of Which Rate of Interest is Hereby Varied.
Ashburton Electric-power Board...
Special Loan No. 10 1951
6 June 1951, £80,000
44,000
£
£
Bay of Islands Electric-power Board
Reticulation Extension Loan No. 8 1952
20 August 1952, £120,000
120,000
Dunedin City Council ...
Waterworks Extension Loan 1938
7 May 1952, £50,000—Balance £19,500
19,500
Dunedin City Council ...
Quarry Development Loan 1952...
30 July 1952, £60,000
60,000
Mount Maunganui Borough Council North Shore Fire Board
Water Reticulation Loan 1952
Rothesay Bay Station Site Loan 1952
10 June 1952, £45,000
20 August 1952, £6,000
45,000
6,000
Opunake Electric-power Board...
Reticulation Loan 1951
3 March 1952, £5,000
5,000
Opunake Electric-power Board...
Reticulation Loan 1952
28 May 1952, £8,000
8,000
Orapiu Road Board
Wharf Loan 1952
30 April 1952, £600
600
Otamatea County Council
No. 4 Bridge Rate Loan 1951
4 July 1951, £10,000
10,000
Papatoetoe Borough Council
Street Sealing and Plant Supplementary Loan 1952
23 April 1952, £2,100
2,100
Te Awamutu Borough Council ...
Waterworks Extension Loan 1952
20 August 1952, £97,500
97,500
204,000
60,000
19,500
10,000
2,000
6,000
3,300
8,000
600
3,500
2,100
40,000
(T. 40/416/6)
T. J. SHERRARD, Clerk of the Executive Council.
Varying the Determinations in Respect of Portions of Loans being Raised by the Dunedin City Council
H. F. O'LEARY,
Administrator of the Government
ORDER IN COUNCIL
At the Government House at Wellington, this 24th day of September 1952
Present:
HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the second column of the Schedule hereto, consent was given to the raising by the Dunedin City Council (hereinafter called the said local authority) of the respective loans stated in the first column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council :
And whereas the authorities conferred by the said Orders in Council have not been exercised in respect of each respective loan to the extent specified in the third column of the said Schedule opposite each such loan :
And whereas it is expedient to vary the determinations of each respective loan in so far as such determinations apply to the raising of the sum specified in the fourth column of the said Schedule opposite each such loan (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 varies in respect of each loan referred to in the Schedule hereto, certain of the aforesaid determinations in respect of the raising of such loan in so far as such determinations apply to the raising of the said sum, by prescribing as follows:-

1. In lieu of the term as specified in the Order in Council authorizing the raising of such loan, the term for which the said sum or any part thereof may be raised shall not exceed fifteen (15) years.
2. In lieu of the rate of interest as specified in the Order in Council authorizing the raising of such loan, 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.
   SCHEDULE
   First Column.
   Name of Loan.
   Second Column.
   Date of Consenting Order in Council and Amount Thereby Authorized.
   Third Column.
   Amount of Loan Unraised.
   Fourth Column.
   Portion of Loan Hereby Varied.
   Water Supply Loan 1951
   Electricity Loan 1951
   Electric-power Loan 1948
   30 July 1952, £535,000
   17 October 1951, £400,000
   26 January 1949, £723,500
   535,000
   400,000
   378,500
   £
   £
   60,000
   122,000
   378,500
   (T. 49/254/40, 44, and 47)
   T. J. SHERRARD, Clerk of the Executive Council.