New Zealand Gazette – 1953 – No. 47

Page 1313

✨ Local Government Loan Orders

Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof

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 the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans stated opposite their names therein, have respectively 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 loans:
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 respective local authorities mentioned in the first column of the said Schedule of the respective loans set out in the second column of the said Schedule, up to the respective amounts specified in the third column of the said Schedule, and in giving such consent hereby determines as follows:

The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in the fourth column of the said Schedule.
The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per centum per annum stated in the fifth column of the said Schedule.
The said respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the respective terms as determined in 1 above.
The payment of such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan moneys.
The rate payable for brokerage, underwriting, and procuration fees in respect of the raising of the said respective loans or any parts thereof shall not in the aggregate exceed one-half per centum of any amount raised.
No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE

First Column	Second Column	Third Column	Fourth Column	Fifth Column
Name of Local Authority	Name of Loan	Amount of Loan	Term of Loan (Years)	Rate of Interest
Hutt County Council	Kapiti Riding Improvement Loan 1953	£15,000	20	£4 0 0
Hutt County Council	Paraparaumu Fire Engine Loan 1952	£1,600	10	£4 0 0
Mangaweka Town Board	Housing Loan 1953	£2,700	30	£4 0 0
Putaruru Borough Council	Housing Loan 1952	£10,000	25	£4 0 0
South Canterbury Hospital Board	Timaru Nurses' Home (Additional) Loan 1953	£22,000	10	£4 0 0

T. J. SHERRARD, Clerk of the Executive Council.
(T. 40/416/6)

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 29th day of July 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
Auckland Hospital Board	Buildings Loan 1951	18 February 1952, £65,000	£20,000	£20,000
Wanganui Hospital Board	Maternity Block Loan 1951	12 September 1951, £185,000	£80,000	£80,000

T. J. SHERRARD, Clerk of the Executive Council.
(T. 40/416/6)

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💰 Consenting to the Raising of Loans by Certain Local Authorities

Domain💰 Finance & Revenue
Dated29 July 1953
KeywordsLoans, Local Authorities, Local Government Loans Board Act, Consent
👩‍💼 Officials

C. W. M. Norrie, Governor-General
T. J. Sherrard, Clerk of the Executive Council

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

Domain💰 Finance & Revenue
Dated29 July 1953
KeywordsLoans, Local Authorities, Interest Rates, Variation
👩‍💼 Officials

C. W. M. Norrie, Governor-General
T. J. Sherrard, Clerk of the Executive Council

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