18

THE NEW ZEALAND GAZETTE

[No. 1

Consenting to the Raising of Portion (£25,000) of the Masterton Borough Council's Loan of £173,250 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 Masterton Borough Council (hereinafter called the said local authority), being desirous of raising a loan of one hundred and seventy-three thousand two hundred and fifty pounds (£173,250) to be known as “Waterworks and Sewerage Improvement Loan 1953” (hereinafter called the said loan) for the purpose of carrying out water-supply improvement and water-main and sewer extensions, 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 twenty-five thousand pounds (£25,000) (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-five thousand pounds (£25,000), 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 annual redemption of debentures in the years set out in the first column of the Schedule hereunder of the amounts stated opposite each such year in the second column of the said Schedule.

SCHEDULE

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 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.
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. 49/238/16)

Varying the Determinations in Respect of the Balance (£46,000) of the Thames Hospital Board’s Loan of £76,000

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 by Order in Council made on the 7th day of May 1952 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Thames Hospital Board (hereinafter called the said local authority) of a loan of seventy-six thousand pounds (£76,000) to be known as “Thames Hospital Additional Loan 1952” (hereinafter called the said loan):

And whereas by Order in Council made on the 24th day of February 1953 certain of the determinations aforesaid were varied in respect of the said loan:

And whereas the sum of forty-six thousand pounds (£46,000) (hereinafter called the said sum) has not yet been raised, and it is expedient to cancel the determinations aforesaid in respect of the said sum and make new determinations in lieu thereof:

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 cancels the aforesaid determinations in respect of the said sum and in lieu thereof makes the following determinations:

1. The term for which the said sum 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 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 shall be repaid as follows:

(a) By twenty equal payments of four hundred pounds (£400) 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 borrowing of the said sum of an amount of thirteen thousand pounds (£13,000).

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 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.
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. 49/522/4)

Varying the Determinations in Respect of Portion (£21,000) of the Taumarunui Hospital Board’s Loan of £42,200

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 by Order in Council made on the 3rd day of June 1953 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Taumarunui Hospital Board (hereinafter called the said local authority) of the sum of twenty-one thousand pounds (£21,000) (hereinafter called the said sum), being portion of a loan of forty-two thousand two hundred pounds (£42,200) known as “Building Loan 1953”:

And whereas by Order in Council made on the 7th day of October 1953 the determinations aforesaid were cancelled in respect of portion of the said sum amounting to twenty thousand pounds (£20,000) and new determinations made in lieu thereof:

And whereas the said sum has still not yet been raised and it is expedient to cancel the determinations in respect of the said sum as made by the aforesaid Orders in Council and make new determinations in lieu thereof:

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 cancels the determinations aforesaid in respect of the said sum and in lieu thereof makes the following determinations:

1. The term for which the said sum 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 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 equal half-yearly instalments of principal extending over the term as determined in 1 above.
4. The payment of interest and the repayment of principal in respect of the said sum shall be made in New Zealand.
5. No amount payable either as interest or as principal in respect of the said sum 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 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. 49/702/1)