16

THE NEW ZEALAND GAZETTE
[No. 1

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 thousand nine
   hundred pounds (£2,900) each, one of such pay-
   ments 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 fifty-seven thousand pounds (£57,000).
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 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. 49/396/12)
   Consenting to the Raising of a Loan of £28,000 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 twenty-eight thousand pounds
   (£28,000) to be known as 'Loan No. 12 1953' (hereinafter
   called the said loan) for the purpose of meeting the Board's
   proportion of the cost of widening and deepening Oakley Creek
   between Richardson Road and Sandringham Road in the
   Borough of Mount Roskill, 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 twenty-eight
   thousand pounds (£28,000), and in giving such consent hereby
   determines as follows:
8. The term for which the said loan or any part thereof
   may be raised shall be ten (10) years.
9. 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.
10. 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 Column | First Column | Second Column |
    | --- | --- | --- | --- |
    | Half-year | Amount | Half-year | Amount |
    | 1st | £200 | 11th | £200 |
    | 2nd | £200 | 12th | £200 |
    | 3rd | £200 | 13th | £200 |
    | 4th | £200 | 14th | £200 |
    | 5th | £200 | 15th | £300 |
    | 6th | £200 | 16th | £300 |
    | 7th | £200 | 17th | £300 |
    | 8th | £200 | 18th | £300 |
    | 9th | £200 | 19th | £300 |
    | 10th | £200 | 20th | £23,700 |
11. The payment of interest and redemptions in respect of
    the said loan shall be made in New Zealand.
12. No amount payable either as interest or as a redemption
    in respect of the said loan shall be paid out of loan moneys.
13. 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 centum of any amount raised.
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. 49/393/19)
    Consenting to the Raising of Portion (£400,000) of the
    Auckland Electric Power Board's Loan of £650,000 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 Electric Power Board (herein-
    after called the said local authority), being desirous
    of raising a loan of six hundred and fifty thousand pounds
    (£650,000) to be known as 'General Extension and Improve-
    ment Loan 1954' (hereinafter called the said loan) for the
    purpose of further reticulating the Board's area and generally
    extending, strengthening, and reorganizing the supply within
    that area, 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 four
    hundred thousand pounds (£400,000) (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 four
    hundred thousand pounds (£400,000), and in giving such
    consent hereby determines as follows:
15. The term for which the said sum or any part thereof
    may be raised shall not exceed fifteen (15) years.
16. 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.
17. The said sum shall be repaid as follows:
    (a) By thirty equal payments of ten thousand pounds
    (£10,000) 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 fifteenth year from
    the date of the raising of the said sum of an amount
    of one hundred thousand pounds (£100,000).
18. The payment of interest and repayment of principal
    in respect of the said sum shall be made in New Zealand.
19. No amount payable either as interest or as principal
    shall be paid out of loan moneys.
20. 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.
21. 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. 49/410/10)
    Consenting to the Raising of Portion (£80,000) of the Bay
    of Islands Electric Power Board's Loan of £120,000 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 Bay of Islands Electric Power Board
    (hereinafter called the said local authority), being
    desirous of raising a loan of one hundred and twenty thousand
    pounds (£120,000) to be known as 'Reticulation Extension
    Loan No. 9 1953' (hereinafter called the said loan) for the
    purpose of further reticulating the Bay of Islands Electric
    Power District, 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
    eighty thousand pounds (£80,000) (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 eighty
    thousand pounds (£80,000), and in giving such consent hereby
    determines as follows:
22. The term for which the said sum or any part thereof
    may be raised shall not exceed ten (10) years.