Varying the Determinations in Respect of Portion (£40,000)
of the Palmerston North City Council's Loan of £154,700

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 23rd day of
June 1953
Present:
THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the 11th day of
March 1953 (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 in New Zealand by the Palmerston North City Council
(hereinafter called the said local authority) of an amount of
forty thousand pounds (£40,000), being portion of a loan of
one hundred and fifty-four thousand seven hundred pounds
(£154,700) known as 'Street Improvement Loan 1952'
(hereinafter called the said loan):
And whereas the said amount of forty thousand pounds
(£40,000), (hereinafter called the said sum) has not been
raised and it is expedient to vary certain of the determinations
in respect 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 varies the determinations aforesaid
in respect of the said sum by prescribing as follows:

1. In lieu of a term of seventeen years (17) years, as
   specified in clause 1 of the said Order in Council, the term for
   which the said sum or any part thereof may be raised shall
   not exceed ten (10) years.
2. In lieu of repayment in the manner prescribed in clause
   3 of the said Order in Council, the said sum or any part
   thereof shall be repaid by the annual redemption of debentures
   in the years set out in the first column of the Schedule here-
   under of the amounts stated opposite each such year in the
   second column of the said Schedule.
   SCHEDULE
   First Second First Second
   Column Column Column Column
   Year Amount Year Amount
   1st 1,700 6th 2,000
   2nd 1,800 7th 2,100
   3rd 1,800 8th 2,300
   4th 1,900 9th 2,300
   5th 2,000 10th 22,100
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/284/39)
   Varying the Determinations in Respect of the Balance (£2,700)
   of the Timaru City Council's Loan of £20,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 23rd day of
   June 1953
   Present:
   THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 5th day of
   December 1951 (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 in New Zealand by the Timaru City Council (herein-
   after called the said local authority) of a loan of twenty
   thousand pounds (£20,000) to be known as 'Timaru Streets
   Improvement Loan 1944 (issue of £20,000)' (hereinafter
   called the said loan):
   And whereas the authority conferred by the said Order
   in Council has not been exercised to the extent of two thousand
   seven hundred pounds (£2,700) (hereinafter called the said
   sum) and it is expedient to vary certain of the determinations
   aforesaid in respect of 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 certain of the determinations
   aforesaid in respect of the said sum by prescribing that in
   lieu of a rate of interest not exceeding three pounds five
   shillings (£3 5s.) per centum per annum, as specified in clause
   2 of the said Order in Council, 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.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/306/18)
   Varying the Determinations in Respect of the Balance
   (£5,000) of the Timaru City Council's Loan of £20,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 23rd day of
   June 1953
   Present:
   THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 23rd day of
   July 1952 and subject to the determinations as to
   borrowing and repayment therein set out, consent was given
   to the raising in New Zealand by the Timaru City Council
   (hereinafter called the said local authority) of a loan of
   twenty thousand pounds (£20,000) to be known as 'Electricity
   Stock Purchase Loan 1952' (hereinafter called the said
   loan):
   And whereas portion of the said loan amounting to five
   thousand pounds (£5,000) (hereinafter called the said sum)
   has not yet been raised and it is expedient to cancel the
   determinations aforesaid in respect of the said sum 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 sum and in lieu thereof makes the
   following determinations:
3. The term for which the said sum or any part thereof
   may be raised shall not exceed ten (10) years.
4. 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.
5. The said sum shall be repaid on the 1st day of
   September 1963.
6. The payment of interest and repayment of principal in
   respect of the said sum shall be made in New Zealand.
7. No amount payable either as interest or as principal
   shall be paid out of loan-moneys.
8. 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 one-half
   per centum of any amount raised.
9. No moneys shall be borrowed under this consent after
   the expiration of two years from the date hereof.
   T. J. SHERRARD;
   (T. 49/306/34)
   Clerk of the Executive Council.
   Varying the Determinations in Respect of the Balance
   (£12,700) of the Timaru City Council's Loan of £24,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 23rd day of
   June 1953
   Present:
   THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 27th day of
   July 1949 and subject to the determinations as to
   borrowing and repayment therein set out, consent was given
   to the raising in New Zealand by the Timaru City Council
   (hereinafter called the said local authority) of a loan of
   twenty-four thousand pounds (£24,000), to be known as
   'Northern Extension (Drainage and Street Improvement)
   Loan 1948' (hereinafter called the said loan):
   And whereas portion of the said loan amounting to
   twelve thousand seven hundred pounds (£12,700) (hereinafter
   called the said sum) has not yet been raised and it is expedient
   to cancel the determinations aforesaid in respect of the said
   sum 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 sum and in lieu thereof makes the
   following determinations:
10. The term for which the said sum or any part thereof
    may be raised shall not exceed ten (10) years.
11. 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.
12. The said sum shall be repaid on the 1st day of
    November 1963.
13. The payment of interest and repayment of principal in
    respect of the said sum shall be made in New Zealand.
14. No amount payable either as interest or as principal
    shall be paid out of loan-moneys.
15. 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 one-half
    per centum of any amount raised.
16. No moneys shall be borrowed under this consent after
    the expiration of two years from the date hereof.
    T. J. SHERRARD,
    (T. 49/306/25)
    Clerk of the Executive Council.