Consenting to the Raising of a Loan of £90,000 by the Wairarapa Hospital Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 11th day of November 1953
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Wairarapa Hospital Board (hereinafter called the said local authority), being desirous of raising, first, a loan of sixty-two thousand pounds (£62,000) to be known as 'Buildings Loan 1952' for the purpose of extending the maternity ward at Masterton Hospital, providing and equipping a new kitchen and staff dining-rooms at Greytown Hospital, and meeting incidental costs and, secondly, a loan of twenty-eight thousand pounds (£28,000) to be known as 'Buildings Loan No. 2 1952' for the purpose of completing the provision of kitchen and operating-theatre blocks at Pahiatua Hospital and meeting incidental costs, 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 of raising the aforesaid loans of sixty-two thousand pounds (£62,000) and twenty-eight thousand pounds (£28,000) in one loan of ninety thousand pounds (£90,000) to be known as 'Buildings Loans Amalgamated Loan 1953' (hereinafter called the said loan): And whereas by Order in Council made on the 1st day of April 1953 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising of portion of the said loan amounting to ten thousand pounds (£10,000): And whereas the said amount of ten thousand pounds (£10,000) has not yet been raised and it is expedient to cancel the determinations aforesaid in respect thereof: And whereas the said local authority is now desirous of raising the full amount of the said loan amounting to ninety thousand pounds (£90,000), 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 purposes up to the amount of ninety thousand pounds (£90,000), 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 | First Column | Second |
   | --- | --- | --- | --- |
   | Half-year | Amount | Half-year | Amount |
   | £ | | £ | |
   | 1st | 2,200 | 11th | 2,200 |
   | 2nd | 2,300 | 12th | 2,300 |
   | 3rd | 2,200 | 13th | 2,200 |
   | 4th | 2,300 | 14th | 2,300 |
   | 5th | 2,200 | 15th | 2,200 |
   | 6th | 2,300 | 16th | 2,300 |
   | 7th | 2,200 | 17th | 2,200 |
   | 8th | 2,300 | 18th | 2,300 |
   | 9th | 2,200 | 19th | 2,200 |
   | 10th | 2,300 | 20th | 47,300 |
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.
8. The determinations aforesaid in respect of the said amount of ten thousand pounds (£10,000) are hereby cancelled.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/490/6)
   Consenting to the Raising of the Balance (£10,000) of the Dunedin City Council's Loan of £20,000 and Prescribing the Conditions Thereof
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government House at Wellington, this 11th day of November 1953
   Present:
   HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
   WHEREAS by Order in Council made on the 20th day of December 1950 (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 a loan of twenty thousand pounds (£20,000) to be known as 'Housing Loan 1950' (hereinafter called the said loan): And whereas the authority conferred by the said Order in Council has not yet been exercised to the extent of ten thousand pounds (£10,000): And whereas the authority has lapsed in accordance with the provisions of clause 6 of the said Order in Council and it is not now lawful or competent for the said local authority to raise the balance of the said loan or any portion thereof 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 the said local authority is now desirous of raising the balance of the said loan amounting to ten thousand pounds (£10,000) (hereinafter called the said sum) and it is expedient to authorize the said local authority to raise the said sum or any portion thereof 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 sum up to the amount of ten thousand pounds (£10,000) for the purpose for which the said loan was authorized, and in giving such consent hereby determines as follows:
9. The term for which the said sum or any part thereof may be raised shall not exceed thirty (30) years.
10. 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 three pounds ten shillings (£3 10s.) per centum per annum.
11. The said sum or any part thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the term as determined in 1 above.
12. The payment of such instalments shall be made in New Zealand and no such instalment shall be paid out of loan moneys.
13. No amount shall be payable for brokerage, underwriting, and procurement fees in respect of the raising of the said sum or any part thereof.
14. 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. 49/254/41)
    Domain Board Appointed to Have Control of the Motu Domain
    C. W. M. NORRIE, Governor-General
    ORDER IN COUNCIL
    At the Government House at Wellington, this 11th day of November 1953
    Present:
    HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
    PURSUANT to section 44 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 appoints
    John Stuart Kay,
    Norman Grant Nisbett,
    Dallas Archie Richardson,
    Maurice Trafford, and
    Roland Morphet Twisleton
    to be the Motu Domain Board, having control of the land described in the Schedule hereto, and hereby appoints Monday, the 23rd day of November 1953, at 8 o'clock p.m., as the time when, and the Public Hall, Motu, as the place where, the first meeting of the Board shall be held.
    SCHEDULE
    Gisborne Land District—Motu Domain
    SECTION 31, Block II, Motu Survey District: Area, 15 acres, more or less. (S.O. plan 1672.)
    T. J. SHERRARD,
    Clerk of the Executive Council.
    (L. and S. H.O. 1/40; D.O. 8/1)