And whereas the authority conferred by the said Order in
Council has lapsed in accordance with the provisions of clause 7
thereof and it is not now lawful or competent for the said local
authority to raise the said loan or any portion thereof except in
accordance with the provisions of a further Order in Council that
may be issued pursuant to section 11 of the Local Government
Loans Board Act 1926 (hereinafter called the said Act):

And whereas an amount of thirteen thousand four hundred
pounds (£13,400) being the balance of the said portion of thirty
thousand pounds (£30,000) has not yet been raised and it is expedient
to authorize the said local authority to raise a portion thereof
amounting to three thousand four hundred pounds (£3,400) (hereinafter
called the said sum) on the conditions hereinafter set out:

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 three thousand four hundred pounds
(£3,400) for the purpose for which the said loan was authorized,
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 thirty-three (33) 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 three pounds five shillings
   (£3 5s.) per centum per annum.

3. The said sum shall be repaid by the annual redemption of
   debentures on the dates set out in the first column of the Schedule
   hereto of the amounts stated opposite each such date 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 as either interest or a redemption in
   respect of the said sum shall be paid out of loan-moneys.

6. The rate payable for brokerage, underwriting, and procure-
   tion 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.

7. No moneys shall be borrowed under this consent after the
   expiration of two years from the date hereof.

8. The debentures to be issued in respect of the said sum or
   any part thereof may be issued at a discount, the sum to be paid in
   respect of any such debenture to be such that the yield to the lender
   shall not in any case exceed a rate of interest of four pounds (£4) per
   centum per annum on the principal sum secured by such debenture.

T. J. SHERRARD,
Clerk of the Executive Council.

(T. 49/233/36)

Varying the Determinations in Respect of Portion (£2,000) of the
Takapuna Borough Council's Loan of £5,000

H. F. O'LEARY,
Administrator of the Government
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of
October 1952
Present:

HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT
IN COUNCIL
WHEREAS by Order in Council made on the 11th day of July
1951 (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 Takapuna Borough Council (hereinafter called the said
local authority) of a loan of five thousand pounds (£5,000) to be
known as "Housing Loan 1951" (hereinafter called the said loan):

And whereas the authority conferred by the said Order in
Council has not yet been exercised and it is expedient to vary
certain of the determinations aforesaid in respect of a portion of
the said loan amounting to two thousand pounds (£2,000) (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 varies certain of the determinations aforesaid in respect of
the said sum by prescribing as follows:-

1. In lieu of a term not exceeding twenty-five (25) years as
   specified in clause 1 of the said Order in Council, the term for which
   the said sum or any part thereof may be raised shall not exceed
   fifteen (15) years.

2. 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.

3. In lieu of repayment by equal aggregate annual or half-
   yearly instalments of principal and interest as specified in clause
   3 of the said Order in Council, the said sum or any part thereof shall
   be repaid by the annual redemption of debentures in the years
   set out in the first column of the Schedule hereunder of the amounts
   stated opposite each such year in the second column of the said
   Schedule.

SCHEDULE

T. J. SHERRARD,
Clerk of the Executive Council.

(T. 49/120/13)

Varying the Determinations in Respect of Portion (£200,000) of the
Christchurch Drainage Board's Loan of £425,000

H. F. O'LEARY,
Administrator of the Government
ORDER IN COUNCIL
At thc Government House at Wellington, this 22nd day of
October 1952
Present:

HIS EXCELLENCE THE ADMINISTRATOR OF THE GOVERNMENT
IN COUNCIL
WHEREAS by Order in Council made on the 15th day of May
1951 (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
Christchurch Drainage Board (hereinafter called the said local
authority) of a loan of four hundred and twenty-five thousand
pounds (£425,000) to be known as "Sewerage Loan No. 1 1951"
(hereinafter called the said loan):

And whereas the authority conferred by the said Order in
Council has not yet been exercised to the extent of three hundred
and ninety thousand one hundred pounds (£390,100) and it is
expedient to vary certain of the determinations aforesaid in respect
of a portion thereof amounting to two hundred thousand pounds
(£200,000) (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 Govern-
ment, acting by and with the advice and consent of the Executive
Council, hereby cancels the aforesaid determinations 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.