250

THE NEW ZEALAND GAZETTE

[NO. 10

SCHEDULE

First Column.
Half-year.

Second
Column.
Amount.

First Column.
Half-year.

Second
Column.
Amount.

£
200
200
300
200
200
300
300
200
300
300

...
...
...
...
...
...
...
...
...
...

11th
12th
13th
14th
15th
16th
17th
18th
19th
20th

...
...
...
...
...
...
...
...
...
...

£
200
300
300
300
300
300
300
400
300
20,800

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
   procuration fees in respect of the raising of the said sum or
   any part thereof shall not in the aggregate exceed three-
   quartes 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. 49/11/31)

Varying the Determinations in Respect of Portion (£50,000)
of the Hutt Valley Electric-Power Board's Loan of
£140,000

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 1st 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 Hutt Valley Electric-power
Board (hereinafter called the said local authority) of an
amount of one hundred and forty thousand pounds (£140,000)
by a loan to be known as "'Building Loan 1950'":
And whereas the said Order in Council has not been
exercised to the extent of sixty thousand pounds (£60,000)
and it is expedient to cancel the determinations aforesaid in
respect of a portion thereof amounting to fifty thousand
pounds (£50,000) (hereinafter called the said sum) 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 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 ten (10) 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

First Column.
Half-year.

Second
Column.
Amount.

First Column.
Half-year.

Second
Column.
Amount.

£
500
600
700
600
600
700
700
600
700
700

...
...
...
...
...
...
...
...
...
...

11th
12th
13th
14th
15th
16th
17th
18th
19th
20th

...
...
...
...
...
...
...
...
...
...

£
800
700
700
800
800
800
800
800
900
36,500

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
   procuration fees in respect of the raising of the said sum
   or any part thereof shall not in the aggregate exceed three-
   quartes 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. 49/167/5)

Varying the Determinations in Respect of the Balance
(£40,000) of the Lower Hutt City Council's Loan of £76,000

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 3rd day of
March 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 Lower Hutt City Council
(hereinafter called the said local authority) of a loan of
seventy-six thousand pounds (£76,000) to be known as
"'Roading Development Loan 1951'" (hereinafter called the
said loan):
And whereas by Order in Council made on the 1st day
of October 1952 certain of the determinations aforesaid were
varied in respect of the unraised balance of the said loan
amounting to forty thousand pounds (£40,000) (hereinafter
called the said sum):
And whereas the said sum has not yet been raised and
it is expedient to cancel the determinations aforesaid in respect
of the said sum 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 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 ten (10) 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

First Column.
Half-year.

Second
Column.
Amount.

First Column.
Half-year.

Second
Column.
Amount.

£
400
500
500
500
500
500
600
500
600
500

...
...
...
...
...
...
...
...
...
...

11th
12th
13th
14th
15th
16th
17th
18th
19th
20th

...
...
...
...
...
...
...
...
...
...

£
600
600
600
600
600
700
600
700
700
29,200