896

THE NEW ZEALAND GAZETTE
[No. 33

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 House at Wellington, this 3rd day of June 1953
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL 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:-

1. 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.
2. 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.
3. 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.
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 respective
   loans or any parts 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.
   SCHEDULE
   First Column.
   Name of Local Authority.
   Second Column.
   Third Column.
   Fourth Column.
   Fifth Column.
   Name of Loan.
   Amount of Loan.
   Term of
   Rate of
   Loan
   Interest.
   (Years).
   Tararua Electric-power Board
   Akitio Loan 1953
   £
   £ s. d.
   5,000
   20
   4 0 0
   Tararua Electric-power Board
   Inner Area Loan 1953
   13,000
   20
   4 0 0
   Taumarunui Hospital Board
   Building Loan 1953, £42,200
   21,000
   25
   4 0 0
   Tauranga County Council
   Housing Loan 1952
   5,800
   10
   4 0 0
   Tauranga County Council
   Katikati Fire Service Loan 1953
   2,500
   15
   4 0 0
   Wairere Electric-power Board
   Reticulation Loan 1952, £41,000
   25,000
   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 19th day of May 1953
   Present:
   THE HON. K. J. HOLYOAKE 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:-
7. 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.
8. 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.
9. 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.
10. The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of
    loan-moneys.
11. 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.
12. 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
    Rate of
    Loan
    Interest.
    (Years).
    Mount Albert Borough Council
    Road Works and General Development
    £
    £ s. d.
    Loan 1952, £250,000
    40,000
    20
    4 0 0
    Waipawa Borough Council
    General Purposes Loan 1953, £24,250
    15,000
    20
    4 0 0
    (T. 40/416/6)
    T. J. SHERRARD, Clerk of the Executive Council.