3. The said loan shall be repaid as follows:
   (a) By twenty equal payments of six hundred pounds
   (£600) 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 the raising of the said loan of an
   amount of ten thousand pounds (£10,000).
4. The payment of interest and repayment of principal
   in respect of the said loan shall be made in New Zealand.
5. No amount payable either as interest or as principal
   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 loan
   or any part 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. 49/703/7)

Consenting to the Raising of a Loan of £60,000 by the
Auckland Metropolitan Drainage Board and Prescribing
the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 15th day of
December 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS the Auckland Metropolitan Drainage Board
(hereinafter called the said local authority), being
desirous of raising a loan of sixty thousand pounds (£60,000)
to be known as "Loan No. 11 1953" (hereinafter called the
said loan) for the purpose of (a) constructing a main sewer
as an extension of Branch Sewer No. 9 from Preston Avenue
to Richardson Road, Mount Roskill, (b) constructing a com-
bined sewage and trade wastes sewer from the new sewer
mentioned in paragraph (a) hereof eastward to Hayr Road,
Mount Roskill, (c) constructing a short branch sewer (to be
known as Branch Sewer No. 9A) to the boundary of Mount
Roskill Borough at the western end of Richardson Road, and
(d) financing minor works and contingencies in connection
therewith, 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 sixty thousand
pounds (£60,000), and in giving such consent hereby deter-
mines 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 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 OF REDEMPTIONS

First Column Second First Column Second
Half-year Amount Half-year Amount
1st .... 400 11th .... 500
2nd .... 400 12th .... 500
3rd .... 400 13th .... 600
4th .... 400 14th .... 600
5th .... 400 15th .... 600
6th .... 400 16th .... 600
7th .... 500 17th .... 600
8th .... 500 18th .... 600
9th .... 500 19th .... 600
10th .... 500 20th .... 50,400

4. The payment of interest and the 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
   procuration fees in respect of the raising of the said loan or
   any part thereof shall not in the aggregate exceed three-
   quarters per cent 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. 49/393/17)

Consenting to the Raising of a Loan of £8,000 by the Hutt
Valley Drainage Board and Prescribing the Conditions
Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 15th day of
December 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS the Hutt Valley Drainage Board (hereinafter
called the said local authority), being desirous of raising
a loan of eight thousand pounds (£8,000) to be known as
"Staff Housing Loan 1953" (hereinafter called the said loan)
for the purpose of purchasing two dwellings for use by staff,
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 eight
thousand pounds (£8,000), 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 two hundred and
   thirty pounds two shillings and elevenpence
   (£230 2s. 11d.), 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. Each such
   half-yearly payment shall be applied first in pay-
   ment of interest computed at the rate of four
   pounds (£4) per centum per annum on the amount
   of principal for the time being outstanding at the
   beginning of each such half-year in respect of the
   said loan, and the balance of such half-yearly
   payment in reduction of such principal.
   (b) By a payment at the end of the tenth year from the
   date of the raising of the said loan of an amount
   equal to the amount to which the principal of the
   said loan has been reduced in accordance with the
   preceding paragraph (a) hereof after payment of
   the aforesaid twenty half-yearly payments.
4. The payments referred to in clause 3 hereof shall be
   made in New Zealand and no such payment shall be made
   out of loan moneys.
5. The rate payable for brokerage, underwriting, and
   procuration fees in respect of the raising of the said loan or
   any part thereof shall not in the aggregate exceed one-half
   per centum of any amount raised.
6. 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. 49/809/1)

Consenting to the Raising of a Loan of £115,000 by the
Auckland Hospital Board and Prescribing the Conditions
Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 15th day of
December 1953
Present:
THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS the Auckland Hospital Board (hereinafter
called the said local authority), being desirous of
raising a loan of one hundred and fifteen thousand pounds
(£115,000) to be known as "Building Loan 1953" (herein-
after called the said loan) for the purpose of erecting a
new building to house the X-ray Department, Auckland
Hospital, has complied with the provisions of the Local Govern-
ment 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
one hundred and fifteen thousand pounds (£115,000), 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.