Consenting to the Raising of Portion (£60,000) of a Loan of £93,500 by the Auckland City Council 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 Auckland City Council (hereinafter called the said local authority) proposes, pursuant to the terms of a requisition issued under section 22 of the Health Act 1920 to raise a loan of ninety-three thousand five hundred pounds (£93,500) to be known as "Waterworks Development Additional Loan 1952" (hereinafter called the said loan) for the purpose of providing water works to increase the supply of water available to the City of Auckland and meeting the cost of raising the loan:
And whereas the said local authority is desirous of raising in the first instance portion of the said loan amounting to sixty thousand pounds (£60,000) (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 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 sum for the said purpose up to the amount of sixty thousand pounds (£60,000), and in giving such consent hereby determines as follows:—

1. The term for which the said sum of 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.
   1st ... ... 700 2nd ... ... 700 3rd ... ... 700 4th ... ... 800 5th ... ... 800 6th ... ... 800 7th ... ... 800 8th ... ... 800 9th ... ... 800 10th ... ... 900 First Column. Half-year. Second Column. Amount.
   11th ... ... 900 12th ... ... 900 13th ... ... 900 14th ... ... 900 15th ... ... 900 16th ... ... 900 17th ... ... 1,000 18th ... ... 1,000 19th ... ... 1,000 20th ... ... 43,800
4. The payment of interest and the 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 procurement fees in respect of the raising of the said sum or any part thereof shall not in the aggregate exceed three-quarters 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. 49/121)

Consenting to the Raising of the Balance (£5,000) of the Tauranga County Council's Loan of £20,000 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 by Order in Council made on the 29th day of October 1947 (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 by the Tauranga County Council (hereinafter called the said local authority) of a loan of twenty thousand pounds (£20,000) to be known as "Bridges Loan 1947":
And whereas the sum of five thousand pounds (£5,000) (hereinafter called the said sum) has not yet been raised:
And whereas the authority conferred by the said Order in Council has lapsed in accordance with the provisions of clause 6 thereof and it is not now lawful or competent for the said local authority to raise the said sum 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 the said local authority is now desirous of raising the said sum and it is expedient to authorize the said local authority to raise 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 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 sum up to the amount of five thousand pounds (£5,000) 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 twenty-five (25) 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, together with interest thereon shall be repaid by equal aggregate annual or half-yearly instalments extending over the term as determined in 1 above.
4. The payment of such instalments shall be made in New Zealand and no such instalment shall be paid out of loan-moneys.
5. The rate payable for brokerage, underwriting, and procurement 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.
6. 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. 49/228/28)

Domain Board Appointed to Have Control of the Long Beach Domain

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
PURSUANT to section 44 of the Public Reserves, Domains, and National Parks Act 1928, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby appoints Charles Francis Barton, Harold Newton Black, William Robert Driver, Horatio Piripi Jefcoate, Allan Robert Kay, Matthew Forrest Mearns, John Raeburn Paterson, James Smith, and George Henry Wieck to be the Long Beach Domain Board, having control of the land described in the Schedule hereto; and hereby appoints Saturday, the 4th day of April 1953, at 2.30 o'clock p.m., as the time when, and the shelter shed at Long Beach as the place where, the first meeting of the Board shall be held.

SCHEDULE
OTAGO LAND DISTRICT—LONG BEACH DOMAIN
SECTION 53, Block IV, North Harbour and Blueskin Survey District : Area, 11 acres 1 rood 20 perches, more or less. Subject to the reservations and conditions imposed by section 59 of the Land Act 1948. (S.O. plan 11600.) Also all that area containing by admeasurement 6 acres 1 rood 3.4 perches, more or less, being Lot 2 as shown on a plan deposited at the Land Registry Office at Dunedin under No. 3168, being parts Sections 38, 1 of 37, and 1214R, Block IV, North Harbour and Blueskin Survey District. (S.O. plan 11600.)
T. J. SHERRARD,
Clerk of the Executive Council.
(L. and S. H.O. 1/1330 ; D.O. 8/3/101)