Varying the Determinations in Respect of the Balance (£3,500) of the
Levels County Council's Loan of £6,500

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 Order in Council made on the 15th day of November 1950 (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 Levels County Council (hereinafter called the said local authority)
of a loan of six thousand five hundred pounds (£6,500) to be known
as “Smithfield Special Rating Area Loan 1950” (hereinafter called
the said loan):
And whereas the sum of three thousand pounds (£3,000) has
been raised and it is expedient to vary certain of the determinations
aforesaid in respect of the balance of the said loan amounting to three
thousand five hundred pounds (£3,500), (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 certain of the determinations aforesaid in respect of
the said sum by prescribing as follows:—

1. In lieu of a rate of interest not exceeding three pounds five
   shillings (£3 5s.) per centum per annum, as specified in clause 2
   of the said Order in Council, 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.
2. No moneys shall be borrowed under the consent given by the
   said Order in Council after the expiration of three (3) years from the
   date thereof.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/256/10)
   Varying the Determinations in Respect of the Leeston Town Board’s
   Loan of £1,600
   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 Order in Council made on the 10th day of June
   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 Leeston Town Board (hereinafter called the
   said local authority) of a loan of one thousand six hundred pounds
   (£1,600) to be known as “Fire Station Loan 1951” (hereinafter
   called the said loan):
   And whereas by Order in Council made on the 3rd day of
   September 1952 certain of the determinations aforesaid were
   varied :
   And whereas the said loan has not yet been raised and it is
   expedient to again 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 varies certain of the determinations aforesaid in respect of
   the said loan by prescribing that in lieu of repayment by equal
   aggregate annual or half-yearly instalments of principal and interest,
   as specified in clause 3 of the Order in Council made on the 10th day
   of June 1952, the said local authority shall, before raising the said
   loan or any part thereof, make provision for the repayment thereof
   by establishing a sinking fund under the Local Bodies’ Loans Act
   1926, or under such other statutory enactment as may be applicable,
   and shall thereafter make payments to such sinking fund at intervals
   of not more than one year at a rate or rates per centum which shall
   be not less than two pounds fourteen shillings and tenpence
   (£2 14s. 10d.), such payments to be made in respect of every part
   of the said loan for the time being so borrowed and not repaid, the
   first such payment to be made not later than one year after the
   first day from which interest to the lender or lenders is computed
   on the said loan or any part thereof so raised.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/632/5)
   Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
   H. F. O'LEARY,
   Administrator of the Government
   ORDER IN COUNCIL
   At the Government House at Wellington, this 17th day of September 1952
   Present:
   HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT 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, 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 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 hereby determines as follows:—
3. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in
   the fourth column of the said Schedule.
4. 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.
5. 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.
6. The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.
7. 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.
8. No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
   SCHEDULE
   First Column.
   Name of Local Authority.
   Second Column.
   Name of Loan.
   Third Column.
   Amount of
   Loan.
   Fourth Column.
   Term of Loan.
   (Years).
   Fifth Column.
   Rate of
   Interest.
   Hutt County Council .. .. Plimmerton Fire Engine Loan 1952 .. 1,600 10 £ s. d.
   4 0 0
   Hutt County Council .. .. Paekakariki Fire Engine Loan 1952 .. 1,600 10 4 0 0
   Upper Hutt Borough Council .. Streets Improvement No. 1 Renewal Loan 3,000 10 4 0 0
   1952
   Upper Hutt Borough Council .. Supplementary Plant Loan 1952 .. 860 10 4 0 0
   (T. 40/416/6)
   T. J. SHERRARD, Clerk of the Executive Council.