SCHEDULE

First Column
Half-year
Amount
£
1st
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
700
700
700
700
800
800
800
800
800
900
Second
Column
First Column
Half-year
11th
12th
13th
14th
15th
16th
17th
18th
19th
20th

Second
Column
Amount
£
800
900
900
900
900
1,000
900
1,000
1,000
64,000

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. 49/505/10)

Consenting to the Raising of Portions (£45,000 and £9,000)
of the Dunedin City Council's Loan of £858,000 and
Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 9th day of
September 1953
Present:

WHEREAS by Order in Council made on the 13th day of
March 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 by the Dunedin City Council (hereinafter called the
said local authority) of an amount of seven hundred and
eighteen thousand pounds (£718,000) being the balance then
unraised of a loan of eight hundred and fifty-eight thousand
pounds (£858,000) known as 'Transport and Streets
Reconstruction Loan 1946':

And whereas the said amount of seven hundred and
eighteen thousand pounds (£718,000) was allocated to various
purposes as follows, namely, (a) replacing the whole of the
existing city passenger transport systems with an electric
trolley bus system £570,000, (b) paving tramway track
areas and reconstructing streets on the trolley-bus routes,
£72,000, and (c) widening and regrading Albert Street,
£76,000;

And whereas the authority conferred by the said Order
in Council has lapsed in accordance with the provisions of
clause 7 thereof and it is not now lawful or competent for the
said local authority to raise the said amount of seven hundred
and eighteen thousand pounds (£718,000) or any portion yet
unraised except in accordance with the provisions of a further
Order in Council that may be issued pursuant to Section 11
of the Local Government Loans Board Act 1926 (hereinafter
called the said Act):

And whereas an amount of six hundred and forty-four
thousand pounds (£644,000) only has been raised comprising
portion, £505,000, of the amount of £570,000 specified in
purpose (a) above; portion, £63,000, of the amount of
£72,000 specified in purpose (b) above; and the whole of the
amount of £76,000 specified in purpose (c) above.

And whereas the said local authority is now desirous of
raising further portions of the said amount of seven hundred
and eighteen thousand pounds (£718,000) amounting to
forty-five thousand pounds (£45,000) and nine thousand
pounds (£9,000) (hereinafter called the said respective sums)
and it is expedient to authorize the said local authority to
raise the respective sums on the conditions hereinafter
set out;

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 respective sums up to the respective amounts of
forty-five thousand pounds (£45,000) and nine thousand
pounds (£9,000) for the respective purposes (a) and (b)
above, and in giving such consent hereby determines as follows:

1. The term for which the said respective sums or any
   parts thereof may be raised shall not exceed ten (10) years.

2. The rate of interest that may be paid in respect of
   the said respective sums or any parts 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 respective sums or any parts thereof shall be
   repaid as follows:

(a) The sum of forty-five thousand pounds (£45,000) by
the annual redemption of debentures in the years
set out in the first column of the First Schedule
hereunder of the amounts stated opposite each
such year in the second column of the said First
Schedule.

FIRST SCHEDULE

First Column
Year
1st
2nd
3rd
4th
5th
Amount
£
1,000
1,100
1,100
1,200
1,200
Second
Column
First Column
Year
6th
7th
8th
9th
10th
Amount
£
1,300
1,300
1,400
1,400
34,000

(b) The sum of nine thousand pounds (£9,000) by the
annual redemption of debentures in the years set
out in the first column of the Second Schedule
hereunder of the amounts stated opposite each such
year in the second column of the said Second
Schedule.

SECOND SCHEDULE

First Column
Year
1st
2nd
3rd
4th
5th
Amount
£
300
300
400
400
400
Second
Column
First Column
Year
6th
7th
8th
9th
10th
Amount
£
400
400
400
500
5,500

4. The payment of interest and redemptions in respect of
   the said respective sums shall be made in New Zealand.
5. No amount payable either as interest or as a redemption
   in respect of the said respective sums 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 respective
   sums or any parts 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. 49/254/36)

Vesting a Reserve in the Te Awamutu Borough Council

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 16th day of
September 1953
Present:

WHEREAS the land described in the Schedule hereto has
been duly set apart as a reserve for Municipal
buildings:

And whereas, in the opinion of the Governor-General,
it is expedient to vest the said reserve in the Mayor,
Councillors, and Burgesses of the Borough of Te Awamutu:

Now, therefore, pursuant to section 9 of the Public
Reserves and Domains Act 1928, His Excellency the Governor-
General, acting by and with the advice and consent of the
Executive Council, hereby declares that, from and after the
day of the date hereof, the reserve described in the Schedule
hereto shall become vested in the Mayor, Councillors, and
Burgesses of the Borough of Te Awamutu, in trust, for
municipal buildings.

SCHEDULE

SOUTH AUCKLAND LAND DISTRICT
SECTIONS 53, 54, 55, 56, and 58, Village of Te Awamutu,
situated in Block VI, Puniu Survey District: Area, 1 acre
and 4 perches, more or less. Subject to the reservations
and conditions imposed by section 59 of the Land Act 1948.
(S.O. plan 1637L.)

T. J. SHERRARD,
Clerk of the Executive Council.
(L. and S. H.O. 6/6/967, D.O. 8/484)