Varying the Determinations in Respect of the Balance (£35,000)

of the Wellington City Council's Loan of £125,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 29th day of July 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 30th day of June 1948 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Wellington City Council (hereinafter called the said local authority) of an amount of eighty-five thousand pounds (£85,000), being the balance of a loan of one hundred and twenty-five thousand pounds (£125,000) known as 'Water Services Loan 1944':

And whereas portion of the said amount of eighty-five thousand pounds (£85,000) amounting to fifty thousand pounds (£50,000) has been raised and it is expedient to cancel the determinations aforesaid in respect of the balance thereof amounting to thirty-five thousand pounds (£35,000) (hereinafter called 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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:

1. The term for which the said sum 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 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 annual redemption of debentures in the years set out in the first column of the Schedule hereunder of the amounts stated opposite each such year in the second column of the said Schedule.

SCHEDULE

| First Column | Second Column | | First Column | Second Column |
|--------------|---------------| |--------------|---------------|
| Year | Amount | | Year | Amount |
| 1st | 800 | | 6th | 1,000 |
| 2nd | 900 | | 7th | 1,100 |
| 3rd | 900 | | 8th | 1,100 |
| 4th | 900 | | 9th | 1,100 |
| 5th | 1,000 | | 10th | 26,200 |

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 procurement 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.

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. 49/168/90)

Varying the Determinations in Respect of Portion (£50,000)

of the Lyttelton Harbour Board's Loan of £200,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 29th day of July 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 16th day of April 1952 (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 Lyttelton Harbour Board (hereinafter called the said local authority) of a loan of two hundred thousand pounds (£200,000) to be known as "No. 7 Wharf and Breastworks Loan 1952":

And whereas the authority conferred by the said Order in Council has not been exercised to the extent of one hundred thousand pounds (£100,000) and it is expedient to cancel the determinations aforesaid in respect of a portion thereof amounting to fifty thousand pounds (£50,000) (hereinafter called 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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:

1. The term for which the said sum 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 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 annual redemption of debentures in the years set out in the first column of the Schedule hereunder of the amounts stated opposite each such year in the second column of the said Schedule.

SCHEDULE

| First Column | Second Column | | First Column | Second Column |
|--------------|---------------| |--------------|---------------|
| Year | Amount | | Year | Amount |
| 1st | 700 | | 6th | 900 |
| 2nd | 800 | | 7th | 1,000 |
| 3rd | 800 | | 8th | 1,000 |
| 4th | 900 | | 9th | 1,100 |
| 5th | 900 | | 10th | 21,900 |

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 procurement 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.

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. 49/168/122)

Varying the Determinations in Respect of Portion (£30,000)

of the Wellington City Council's Loan of £100,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington, this 29th day of July 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 24th day of February 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 Wellington City Council (hereinafter called the said local authority) of an amount of fifty thousand pounds (£50,000) being portion of a loan of one hundred thousand pounds (£100,000) known as "Aerodrome Development Loan No. 1 1952":

And whereas the authority conferred by the said Order in Council has not been exercised to the extent of thirty thousand pounds (£30,000) (hereinafter called the said sum) and it is expedient to cancel the determinations aforesaid in respect thereof 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 determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:

1. The term for which the said sum 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 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 annual redemption of debentures in the years set out in the first column of the Schedule hereunder of the amounts stated opposite each such year in the second column of the said Schedule.

SCHEDULE

| First Column | Second Column | | First Column | Second Column |
|--------------|---------------| |--------------|---------------|
| Year | Amount | | Year | Amount |
| 1st | 700 | | 6th | 900 |
| 2nd | 800 | | 7th | 1,000 |
| 3rd | 800 | | 8th | 1,000 |
| 4th | 900 | | 9th | 1,100 |
| 5th | 900 | | 10th | 21,900 |

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 procurement 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.

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. 49/128/5)