✨ Loan Consents
Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 24th day of February 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING 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 Governor-General, 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:
- 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.
- 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.
- 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.
- The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.
- 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.
- No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
SCHEDULE
| First Column. | Second Column. | Third Column. | Fourth Column. | Fifth Column. |
|---|---|---|---|---|
| Name of Local Authority. | Name of Loan. | Amount of Loan. | Term of Loan (Years). | Rate of Interest. |
| Akitio County Council | Bridges Loan 1953 | £4,000 | 20 | 4 0 0 |
| Dargaville Borough Council | Road and Street Works Loan 1952, £15,000 | £7,000 | 25 | 4 0 0 |
| Martinborough Borough Council | Fire Station Loan 1952 | £2,500 | 20 | 4 0 0 |
| Otekaike Rabbit Board | Housing Loan 1952 | £2,000 | 25 | 4 0 0 |
| Otekaike Rabbit Board | Maerewhenua Housing Loan 1952 | £1,800 | 20 | 4 0 0 |
| Hawke’s Bay Hospital Board | Gynaecological Ward Loan 1952, £30,000 | £10,000 | 25 | 4 0 0 |
| North Canterbury Catchment Board | Housing Loan No. 2, 1952 | £9,000 | 10 | 4 0 0 |
| Taumarunui Hospital Board | Building Loan (Nurses’ Home) 1952 | £20,000 | 25 | 4 0 0 |
(T. 40/416/6)
T. J. SHERRARD, Clerk of the Executive Council.
Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 24th day of February 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING 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 Governor-General, 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:
- 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.
- 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.
- 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.
- The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan-moneys.
- 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.
- No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.
SCHEDULE
| First Column. | Second Column. | Third Column. | Fourth Column. | Fifth Column. |
|---|---|---|---|---|
| Name of Local Authority. | Name of Loan. | Amount of Loan. | Term of Loan (Years). | Rate of Interest. |
| Picton Borough Council | Water Extension Supplementary Loan 1953 | £1,100 | 24 | 4 0 0 |
| Rodney County Council | Bridge Loan 1953 | £4,500 | 25 | 4 0 0 |
| Te Awamutu Borough Council | Sewerage Improvement Supplementary Loan 1953 | £4,000 | 25 | 4 0 0 |
| Waipawa Hospital Board | Building Loan 1952, £123,000 | £9,000 | 30 | 4 0 0 |
| Waihi Borough Council | Gasworks Closing Loan 1953 | £10,000 | 15 | 4 0 0 |
(T. 40/416/6)
T. J. SHERRARD, Clerk of the Executive Council.
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VUW Te Waharoa —
NZ Gazette 1953, No 11
NZLII —
NZ Gazette 1953, No 11
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💰
Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
(continued from previous page)
💰 Finance & Revenue24 February 1953
Loan consent, Local authorities, Akitio County Council, Dargaville Borough Council, Martinborough Borough Council, Otekaike Rabbit Board, Hawke’s Bay Hospital Board, North Canterbury Catchment Board, Taumarunui Hospital Board
- C. W. M. Norrie, Governor-General
- The Right Hon. S. G. Holland, Presiding in Council
- T. J. Sherrard, Clerk of the Executive Council
💰 Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
💰 Finance & Revenue24 February 1953
Loan consent, Local authorities, Picton Borough Council, Rodney County Council, Te Awamutu Borough Council, Waipawa Hospital Board, Waihi Borough Council
- C. W. M. Norrie, Governor-General
- The Right Hon. S. G. Holland, Presiding in Council
- T. J. Sherrard, Clerk of the Executive Council