10 DEC.] THE NEW ZEALAND GAZETTE 1981
Consenting to the Raising of Portion (£165,000) of the
Auckland Harbour Bridge Authority's Loan of £400,000
and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 30th day of
November 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS the Auckland Harbour Bridge Authority (hereinafter called the said local authority), being desirous
of raising a loan of four hundred thousand pounds (£400,000)
to be known as "Auckland Harbour Bridge Loan (No. 2)
1953" (hereinafter called the said loan) for the purpose of
providing for amounts payable to the Crown in respect of
preliminary costs and expenses, consulting engineers' fees and
expenses, resiting submarine telegraph cables, reclamation at
Point Erin, acquisition of properties and other expenditure
incidental to the construction of an Auckland Harbour Bridge,
and for the payment of interest on the loan and the cost of
raising the loan, 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
in the first instance portion of the said loan amounting to
one hundred and sixty-five thousand pounds (£165,000)
(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 one
hundred and sixty-five thousand pounds (£165,000), and in
giving such consent hereby determines as follows:

1. 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, such interest to be
   compounded with half-yearly rests until repayment of the
   said sum.
2. The said sum or any part thereof shall be repaid in
   one sum on 28 March 1957.
3. The repayment of the said sum shall be made in New
   Zealand.
4. 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 one-half
   per centum of any amount raised.
5. 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. 49/796)
   Consenting to the Raising of the Balance (£140,000) of the
   Cook Hospital Board's Loan of £200,000 and Prescribing
   the Conditions Thereof
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 30th day of
   November 1953
   Present:
   THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
   WHEREAS the Cook Hospital Board (hereinafter called
   the said local authority), being desirous of raising a
   loan of two hundred thousand pounds (£200,000) to be known
   as "Building Extension Loan 1952" (hereinafter called the
   said loan) for the purpose of building a five-story extension
   adjacent to the present Nurses' Home and providing mechanical
   services, furniture, and equipment; extending the Nurses'
   Home recreation hall and providing additional equipment; and
   extending the Nurses' Home kitchen and providing further
   equipment, has complied with the provisions of the Local
   Government Loans Board Act 1926 (hereinafter called the said
   Act):
   And whereas by Orders in Council made on the 4th day of
   March 1953 and the 16th day of November 1953 consent was
   given to the raising of portions of the said loan amounting
   in the aggregate to sixty thousand pounds (£60,000):
   And whereas the said local authority is now desirous of
   raising the balance of the said loan amounting to one hundred
   and forty thousand pounds (£140,000) (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 one hundred
   and forty thousand pounds (£140,000), and in giving such
   consent hereby determines as follows:
6. The term for which the said sum or any part thereof
   may be raised shall not exceed ten (10) years.
7. 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.
8. The said sum shall be repaid as follows:
   (a) By twenty equal payments of three thousand pounds
   (£3,000) each, one of such payments to be made at
   the end of every half-year commencing from the
   date on which the said sum is raised.
   (b) By a payment at the end of the tenth year from the
   date of the raising of the said sum of an amount of
   eighty thousand pounds (£80,000).
9. The payment of interest and repayment of principal in
   respect of the said sum shall be made in New Zealand.
10. No amount payable either as interest or as principal
    shall be paid out of loan moneys.
11. 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.
12. 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. 49/575/5)
    Consenting to the Raising of the Balance (£4,000) of the
    Horowhenua Electric Power Board's Loan of £10,000 and
    Prescribing the Conditions Thereof
    C. W. M. NORRIE, Governor-General
    ORDER IN COUNCIL
    At the Government Buildings at Wellington, this 30th day of
    November 1953
    Present:
    THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
    WHEREAS by Order in Council made on the 19th day of
    September 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 Horowhenua Electric Power Board (hereinafter
    called the said local authority) of a loan of ten thousand
    pounds (£10,000) to be known as 'Staff Housing Loan No. 2
    1951' (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 four
    thousand pounds (£4,000):
    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 four thousand
    pounds (£4,000) (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 four thousand pounds
    (£4,000) for the purpose for which the said loan was
    authorized, and in giving such consent hereby determines as
    follows:
13. The term for which the said sum or any part thereof
    may be raised shall not exceed ten (10) years.
14. 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.
15. 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 deter-
    mined in 1 above.
16. The payment of such instalments shall be made in New
    Zealand and no such instalments shall be paid out of loan
    moneys.
17. 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 one-half per
    centum of any amount raised.
18. 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. 49/234/7)