RENTAL
7. For the purpose of assessing the rental or annual sum payable in respect of this licence, the licensee may install a suitable maximum demand indicator to the satisfaction of the Inspecting Engineer of the State Hydro-electric Department, and, failing such installation, the rental shall be assessed on the maximum generating capacity of the plant installed. The present plant is rated at 6:5 kw.

NO RIGHT TO WATER CONFERRED
8. Nothing in this licence shall of itself confer upon the licensee any right to water.

T. J. SHERRARD,
Clerk of the Executive Council.
(S.H.D. 11/20/1921)

Consenting to the Raising of the Balance (£20,000) of the Hawke's Bay Hospital Board's Loan of £30,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 23rd day of September 1953
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Hawke's Bay Hospital Board (hereinafter called the said local authority) being desirous of raising a loan of thirty thousand pounds (£30,000) to be known as 'Gynaecological Ward Loan 1952' (hereinafter called the said loan) for the purpose of erecting a Gynaecological Ward at the Napier Hospital, has complied with the provisions of the Local Government Loans Board Act 1926 (hereinafter called the said Act):
And whereas by Order in Council made on the 24th day of February 1953 consent was given to the raising of portion of the said loan amounting to ten thousand pounds (£10,000):
And whereas the said local authority is now desirous of raising the balance of the said loan amounting to twenty thousand pounds (£20,000) (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 twenty thousand pounds (£20,000) and in giving such consent hereby determines as follows:

1. The term for which the said sum 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 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 hercunder of the amounts stated opposite each such half-year in the second column of the said Schedule.
   SCHEDULE
   First Column Second Half-year First Column Second Column Half-year Amount Amount
   1st £ 200 11th £ 300
   2nd . . 200 12th . . 300
   3rd . . 300 13th . . 300
   4th . . 200 14th . . 300
   5th . . 300 15th . . 300
   6th . . 200 16th . . 400
   7th . . 300 17th . . 300
   8th . . 300 18th . . 300
   9th . . 300 19th . . 400
   10th . . 200 20th . . 14,600
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 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. 49/237/10)

Consenting to the Raising of a Loan of £200,000 by the Christchurch City Council and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 23rd day of September 1953
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Christchurch City Council (hereinafter called the said local authority) being desirous of raising a loan of two hundred thousand pounds (£200,000) to be known as 'Extension Loan 1953' (hereinafter called the said loan) for the purpose of extending the distribution system and electrical reticulation within the said local authority's licensed area of supply, 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 two hundred thousand pounds (£200,000), 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 not exceed 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 shall be repaid as follows:
   (a) By twenty equal payments of five thousand pounds (£5,000) each, one of such payments to be made at the end of every half-year commencing from the date on which the said loan is raised.
   (b) By a payment at the end of the tenth year from the date of borrowing of the said loan of an amount of one hundred thousand pounds (£100,000).
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 procurement 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. 49/268/51)

Varying the Determinations in Respect of the Otago Catchment Board's Loan of £20,000
C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 23rd day of September 1953
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Order in Council made on the 14th day of November 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 Otago Catchment Board (hereinafter called the said local authority) of a loan of twenty thousand pounds (£20,000) to be known as 'Plant Loan 1951' (hereinafter called the said loan):
And whereas the authority conferred by the said Order in Council has not yet been exercised and it is expedient to extend the term as specified in clause 4 of the said Order in Council within which the said loan or any portion thereof may be raised:
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 loan by prescribing that no moneys shall be borrowed under the consent given by the said Order in Council after the expiration of four (4) years from the date thereof.
T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/759)