SCHEDULE
First Column Second First Column Second
Half-year Column Half-year Column
Amount Amount
£ £
1st . . 1,500 11th . . 1,700
2nd . . 1,500 12th . . 1,800
3rd . . 1,500 13th . . 1,800
4th . . 1,500 14th . . 1,900
5th . . 1,500 15th . . 1,900
6th . . 1,500 16th . . 1,900
7th . . 1,600 17th . . 1,900
8th . . 1,600 18th . . 2,000
9th . . 1,700 19th . . 2,000
10th . . 1,700 20th . . 129,900
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-
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)
Varying the Determinations in Respect of Portions of Loans
Being Raised by the Invercargill City Council
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 second column of the Schedule
hereto, consent was given to the raising by the Invercargill
City Council (hereinafter called the said local authority) of the
respective loans specified in the first column of the said
Schedule, subject in each case to the determinations set forth
in such Orders in Council:
And whereas the determinations in respect of the
“Electricity Loan 1949,” being one of the loans specified in
the said Schedule, were varied by Order in Council made on
the 24th day of February 1953:
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 third column
of the said Schedule opposite each such loan (hereinafter
called the said sum) and it is expedient to vary the deter-
minations aforesaid in each respective case in respect of the
said sum in the manner hereinafter appearing:
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 the provision for repayment
of the said sum, as specified in each respective Order in
Council by providing that the said sum or any part thereof
shall be repaid by the redemption of debentures on the 1st
day of March 1963 in lieu of on the 1st day of March 1968:
SCHEDULE
First Column Second Column Third Column
Name and Amount of Loan Date of Consenting Sum Unraised
Order in Council and Hereby
Varied
Amalgamated Area Street 24 February 1953 £4,300
Works and Services Loan
1948: £87,000, Portion
£22,000
Water Supply and Drainage 24 February 1953 £15,800
Loan 1949: £253,000,
Portion £24,000
Gas Works Loan 1950: 24 February 1953 £22,400
£105,000, Portion £34,000
Electricity Loan 1949: 9 November 1949 £7,300
£32,500
T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/233/36, 38, 41, and 42)
Varying the Determinations in Respect of the Henderson
Borough Council's Loan of £5,500
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 Order in Council made on the 17th day of
March 1953 and subject to the determinations as to
borrowing and repayment therein set out, consent was given
to the raising in New Zealand by the Henderson Borough
Council (hereinafter called the said local authority) of a loan
of five thousand five hundred pounds (£5,500) to be known
as “Waterworks Additional Loan 1953” (hereinafter called
the said loan):
And whereas the said loan has not yet been raised and
it is expedient to cancel the determinations aforesaid in
respect of the said loan 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 loan and in lieu thereof makes the
following determinations:

1. The term for which the said loan 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 loan 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 loan shall be repaid as follows:
   (a) By twenty equal payments of one hundred and
   seventy-five pounds and sevenpence (£175 0s. 7d.)
   one of such payments to be made at the end of
   every half-year commencing from the date on which
   the said loan is raised. Each such half-yearly pay-
   ment shall be applied first in payment of interest
   computed at the rate of four pounds (£4) per
   centum per annum on the amount of principal for
   the time being outstanding at the beginning of
   each such half-year in respect of the said loan and
   the balance of such half-yearly payment in reduction
   of such principal.
   (b) By a payment at the end of the tenth year from the
   date of the raising of the said loan of an amount
   equal to the amount to which the principal of the
   said loan has been reduced in accordance with the
   preceding paragraph (a) hereof after payment of
   the aforesaid twenty half-yearly payments.
4. The payments referred to in clause 3 hereof shall be
   made in New Zealand and no such payment shall be made out
   of loan-moneys.
5. The rate payable for brokerage, underwriting, and
   procuration fees in respect of the raising of the said loan
   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. 49/405)
   Revoking in Part a Warrant Reserving Lands in the North
   Auckland, South Auckland, Wellington, and Otago Land
   Districts, and Reserving Land in the Wellington Land
   District
   C. W. M. NORRIE, Governor-General
   Pursuant to section 167 of the Land Act 1948, and of
   every other power and authority enabling me in that
   behalf, I, Lieutenant-General Sir Charles Willoughby Moke
   Norrie, the Governor-General of New Zealand, hereby revoke,
   in so far as it relates to the land described in the Schedule
   hereto, the Warrant dated the 15th day of December 1952,
   and published in New Zealand Gazette No. 80 of the 18th
   day of that month, at page 2049, reserving certain lands in
   the North Auckland, South Auckland, Wellington, and Otago
   Land Districts for various purposes, and hereby reserve,
   subject to the reservations and conditions imposed by section
   59 of the Land Act 1948, the land described in the Schedule
   hereto, for general education purposes.
   SCHEDULE
   Wellington Land District
   All that area situated in Block XI, Mount Robinson Survey
   District, containing by admeasurement 1 acre and 11.1
   perches, more or less, being Lots 3, 4, 5, 6, 7, and 8, as
   shown on a plan deposited in the Land Registry Office at
   Wellington under No. 15463, being part Manawatu-Kukutauaki
   20 No. 3.
   As witness the hand of His Excellency the Governor-
   General, this 19th day of June 1953.
   W. A. BODKIN,
   For the Minister of Lands.
   (L. and S. H.O. 22/4812/107; D.O. 4/289)