Consenting to the Raising of a Loan of £35,000 by the
Auckland City Council and Prescribing the Conditions
Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of
July 1953
Present:

WHEREAS the Auckland City Council (hereinafter called
the said local authority), being desirous of raising a
loan of thirty-five thousand pounds (£35,000) to be known as
"Parks Loan No. 2 1953" (hereinafter called the said loan)
for the purpose of erecting a grandstand in the Auckland
Domain, erecting caretakers' cottages at Grey Lynn Park,
Melville Park, and Point Howard Reserve, providing a
pavilion at the Mission Bay bowling area, providing bowling
greens and a pavilion at the Orakei Domain, completing work
at Grey Lynn Park, and meeting the cost of raising the loan,
has 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 loan;

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 loan for the said purpose up to the amount of
thirty-five thousand pounds (£35,000), and in giving such
consent hereby determines as follows:

1. The term for which the said loan or any part thereof
   may be raised shall be 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 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 Second Column First Column Second Column
Half-year Amount Half-year Amount
£ £
1st ..... 400 11th ..... 500
2nd ..... 400 12th ..... 500
3rd ..... 400 13th ..... 500
4th ..... 400 14th ..... 500
5th ..... 400 15th ..... 600
6th ..... 500 16th ..... 600
7th ..... 500 17th ..... 600
8th ..... 500 18th ..... 600
9th ..... 500 19th ..... 600
10th ..... 500 20th ..... 25,500

4. The payment of interest and redemptions in respect of
   the said loan shall be made in New Zealand.

5. No amount payable either as interest or as a redemption
   in respect of the said loan 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 loan 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. 49/121/86)

And whereas by Order in Council made on the 3rd day of
September 1952 consent was given to the raising in the first
instance of portion of the said loan amounting to one hundred
thousand pounds (£100,000):

And whereas the said local authority is now desirous of
raising a further portion of the said loan amounting to two
hundred and fifty thousand pounds (£250,000) (hereinafter
called the said sum), 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 sum:

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 for the said purpose up to the amount of two
hundred and fifty thousand pounds (£250,000), 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 be 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 Second Column First Column Second Column
Half-year Amount Half-year Amount
£ £
1st ..... 1,300 11th ..... 1,600
2nd ..... 1,300 12th ..... 1,600
3rd ..... 1,300 13th ..... 1,600
4th ..... 1,400 14th ..... 1,700
5th ..... 1,400 15th ..... 1,700
6th ..... 1,400 16th ..... 1,700
7th ..... 1,500 17th ..... 1,800
8th ..... 1,500 18th ..... 1,800
9th ..... 1,500 19th ..... 1,900
10th ..... 1,500 20th ..... 220,500

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. 49/393/16)

Consenting to the Raising of Portion (£12,000) of the Feilding
Borough Council's Loan of £22,000 and Prescribing the
Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 22nd day of
July 1953
Present:

WHEREAS the Feilding Borough Council (hereinafter
called the said local authority), being desirous of
raising a loan of twenty two thousand pounds (£22,000) to
be known as "Streets and Footpaths Loan 1953" (hereinafter
called the said loan) for the purpose of tar-sealing streets
and constructing and renovating footpaths, has complied with
the provisions of the Local Government Loans Board Act 1926
(hereinafter called the said Act):

And whereas the said local authority is desirous in the
first instance of raising a portion of the said loan amounting
to twelve thousand pounds (£12,000) (hereinafter called the
said sum), 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 sum:

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 for the said purpose up to the amount of twelve thousand
pounds (£12,000), and in giving such consent hereby deter-
mines as follows:

1. The term for which the said sum or any part thereof
   may be raised shall be twelve (12) 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.