26 FEB.] THE NEW ZEALAND GAZETTE 249
Consenting to the Raising of a Loan of £75,000 by the
Putaruru Borough Council and Prescribing the Conditions
Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 17th day of
February 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS the Putaruru Borough Council (hereinafter
called the said local authority), being desirous of
raising a loan of seventy-five thousand pounds (£75,000) to
be known as 'Borough Development Loan 1952' (hereinafter
called the said loan) for the purpose of installing a
sewerage system, making extensions to the Borough water-
supply, undertaking street works and purchasing roading
plant, has complied with the provisions of the Local Govern-
ment 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 loan:
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 Governor-General, 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 loan for the said purpose up to the amount of
seventy-five thousand pounds (£75,000), and in giving such
consent hereby determines as follows:-

1. The term for which the said loan or any part thereof
   may be raised shall not exceed ten (10) 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 OF REDEMPTIONS
   First Column. Second
   Half-year. Amount. First Column. Second
   Column.
   Half-year. Amount.
   £ £
   1st 800 11th 1,000
   2nd 900 12th 1,100
   3rd 1,000 13th 1,200
   4th 900 14th 1,100
   5th 1,000 15th 1,200
   6th 900 16th 1,200
   7th 1,000 17th 1,200
   8th 1,100 18th 1,200
   9th 1,000 19th 1,300
   10th 1,100 20th 54,800
4. The payment of interest and the 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
   procuration fees in respect of the raising of the said loan
   or any part thereof shall not in the aggregate exceed three-
   quaters 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. 49/337/9)
   Varying the Determinations in Respect of the Lower Hutt
   City Council's Loan of £70,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 17th day of
   February 1953
   Present:
   THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 8th day of
   October 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 Lower Hutt City Council
   (hereinafter called the said local authority) of a loan of seventy
   thousand pounds (£70,000) to be known as 'Streets Extension
   and Widening Loan (No. 2) 1952' (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
   cancel the determinations aforesaid in respect of the said
   loan and make new determinations in lieu thereof:
   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 Governor-
   General, 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:-
8. The term for which the said loan or any part thereof
   may be raised shall not exceed ten (10) years.
9. 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.
10. 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
    First Column. Second First Column. Second
    Half-year. Amount. Half-year. Amount.
    £ £
    1st 800 11th 1,000
    2nd 800 12th 1,100
    3rd 900 13th 1,000
    4th 900 14th 1,100
    5th 900 15th 1,100
    6th 900 16th 1,100
    7th 900 17th 1,100
    8th 1,000 18th 1,200
    9th 900 19th 1,200
    10th 1,000 20th 51,100
11. The payment of interest and redemptions in respect
    of the said loan shall be made in New Zealand.
12. No amount payable either as interest or as a
    redemption in respect of the said loan shall be paid out of
    loan-moneys.
13. The rate payable for brokerage, underwriting, and
    procuration fees in respect of the raising of the said loan
    or any part thereof shall not in the aggregate exceed three-
    quaters per centum of any amount raised.
14. 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. 49/11/38)
    Varying the Determinations in Respect of the Balance
    (£26,000) of the Lower Hutt City Council's Loan of £54,000
    C. W. M. NORRIE, Governor-General
    ORDER IN COUNCIL
    At the Government Buildings at Wellington, this 17th day
    of February 1953
    Present:
    THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
    WHEREAS by Order in Council made on the 20th 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 Lower Hutt City Council (hereinafter
    called the said local authority) of a loan of fifty-four
    thousand pounds (£54,000) to be known as 'Community
    Centres (Halls) Loan 1952' (hereinafter called the said
    loan):
    And whereas the sum of twenty-eight thousand pounds
    (£28,000) has been raised and it is expedient to cancel the
    determinations aforesaid in respect of the balance of the said
    loan amounting to twenty-six thousand pounds (£26,000)
    (hereinafter called the said sum) and make new determina-
    tions in lieu thereof:
    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 Governor-
    General, 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:-
15. The term for which the said sum or any part thereof
    may be raised shall not exceed ten (10) years.
16. 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.
17. 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.