25 JUNE THE NEW ZEALAND GAZETTE
973

Varying the Determinations in Respect of Loans or Portions Thereof Being Raised by Certain Local Authorities

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 17th day of June 1953
Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans stated in the second column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council:
And whereas the authorities conferred by the said Orders in Council have not been exercised in respect of each respective loan to the extent specified in the fourth column of the said Schedule opposite each such loan:
And whereas it is expedient to vary the determinations of each respective loan in so far as such determinations apply to the raising of the sum specified in the fifth column of the said Schedule opposite each such loan (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 varies in respect of each loan referred to in the Schedule hereto, certain of the aforesaid determinations in respect of the raising of such loan in so far as such determinations apply to the raising of the said sum, by prescribing that in lieu of the rate of interest as specified in the Order in Council authorizing the raising of such loan, 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 three pounds ten shillings (£3 10s.) per centum per annum.

SCHEDULE
| First Column | Second Column | Third Column | Fourth Column | Fifth Column |
|-------------|---------------|--------------|---------------|--------------|
| Name of Local Authority | Name of Loan | Date of Consenting Order in Council and Amount Thereby Authorized | Amount of Loan Unraised | Sum in Respect of Which Rate of Interest is Hereby Varied |
| Franklin County Council | Rural Housing Loan 1941 | £25,190 | 20 August 1941, £40,000 25,190 |
| Raglan County Council | Rural Housing Loan 1951 | £2,622 | 19 September 1951, £25,000 2,622 |
| Rodney County Council | Rural Housing Loan 1940 | 3,770 | 25 September 1940, £5,000 3,770 |
| Southland County Council | Rural Housing Loan No. 2 1941 | 16,514 | 10 September 1941, £20,000 16,514 |
| Waipa County Council | Rural Housing Loan No. 2 1948 | 14,500 | 27 October 1948, £20,000 14,500 |

(T. 40/416/6)

T. J. SHERRARD, Clerk of the Executive Council.

Varying the Determinations in Respect of Loans or Portions Thereof Being Raised by Certain Local Authorities

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 17th day of June 1953
Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans stated in the second column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council:
And whereas the authorities conferred by the said Orders in Council have not been exercised in respect of each respective loan to the extent specified in the fourth column of the said Schedule opposite each such loan:
And whereas it is expedient to vary the determinations of each respective loan in so far as such determinations apply to the raising of the sum specified in the fifth column of the said Schedule opposite each such loan (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 varies in respect of each loan referred to in the Schedule hereto, certain of the aforesaid determinations in respect of the raising of such loan in so far as such determinations apply to the raising of the said sum, by prescribing that in lieu of the rate of interest as specified in the Order in Council authorizing the raising of such loan, 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.

SCHEDULE
| First Column | Second Column | Third Column | Fourth Column | Fifth Column |
|-------------|---------------|--------------|---------------|--------------|
| Name of Local Authority | Name of Loan | Date of Consenting Order in Council and Amount Thereby Authorized | Amount of Loan Unraised | Sum in Respect of Which Rate of Interest is Hereby Varied |
| Nelson City Council | Rutherford Park Basketball Courts Loan 1951 | £400 | 5 September 1951, £1,900 400 |
| Otago Electric-power Board | General Extension and Reticulation Loan 1952 | 80,000 | 14 May 1952, £95,000 21,000 |

(T. 40/416/6)

T. J. SHERRARD, Clerk of the Executive Council.