212

SCHEDULE

AREA EXCLUDED FROM THE COUNTY OF WAITAKI AND INCLUDED IN THE BOROUGH OF OAMARU

ALL that area in the Otago Land District, Waitaki County and Papakaio Riding, containing 370 acres, more or less, bounded as follows: Commencing at a point on the sea coast in line with the northern side of Orwell Street; thence generally north-westerly, north-easterly, north-westerly, south-westerly, and north-westerly along the boundary of the Borough of Oamaru as described in New Zealand Gazette No. 66, dated 13 November 1947 on page 1767, to the northernmost corner of Lot 9, Deposited Plan 6475; thence north-westerly along the north-eastern boundary of Lot 10, Deposited Plan 6475; thence north-easterly along the north-western end of Frome Street and the north-western boundary of Lot 11, Deposited Plan 6321; thence south-easterly along the north-eastern boundaries of Lots 11, 10, 9, and 8, Deposited Plans 6321, and their production across Lot 1 to and along the north-eastern boundaries of Lots 7, 6, 5, 4, 3, and 2, Deposited Plan 6321, to a point in line with the north-western boundary of parts of Section 10, Block I, Oamaru Survey District, taken for housing purposes by Proclamation No. 6387; thence north-easterly to and along that boundary to the southern corner of Lot 5, Deposited Plan 3525; thence south-easterly along the south-western boundary of Lot 6, and north-easterly along the south-eastern boundary of Lots 6 and 5, Deposited Plan 3525, and its production across a public road; thence northeasterly by a straight line, parallel to the Main North Road to the south-western boundary of Lot 10, Deposited Plan 3955; thence generally north-westerly along the south-western boundary of Lots 10, 11, 12, 13, 14, and 15, Deposited Plan 3955; thence north-easterly along the north-western boundary of Lots 15, 16, 17, 18, 19, 20, and 22, Deposited Plan 3955; thence generally south-easterly along the south-western boundary of Deposited Plan 3647 and its production across the Main North Road; thence north-easterly along the southeastern side of the Main North Road and across College Street to its north-eastern side; thence south-easterly along that side of College Street to the northernmost corner of Lot 8, Deeds Plan 237; thence south-westerly along the northwestern boundary of Lot 8 and south-easterly along the southwestern boundary of Lots 8, 9, 10, and 11, Deeds Plan 237, and its production to the high-water mark of the South Pacific Ocean; thence south-westerly along that high-water mark to the commencing point.

T. J. SHERRARD,

Clerk of the Executive Council.

(I.A. 103/5/159)

Consenting to the Raising of a Loan of £70,000 by the Tauranga Electric Power Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government Buildings at Wellington, this 26th day of January 1954 Present:

THE HON. W. SULLIVAN PRESIDING IN COUNCIL

WHEREAS the Tauranga Electric Power Board (hereinafter called the said local authority), being desirous of raising a loan of seventy thousand pounds (£70,000) to be known as "Electrical Extension Loan 1953" (hereinafter called the said loan) for the purpose of carrying out further reticulation throughout the said local authority's district, 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 seventy thousand pounds (£70,000), 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 one thousand two hundred pounds (£1,200) 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 forty-six thousand (£46,000).

4. The payment of interest and repayment of principal in respect of the said loan shall be made in New Zealand.

(T. 49/569/1)

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 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 thereof.

T. J. SHERRARD,

Clerk of the Executive Council.

(T. 49/249/14)

Consenting to the Raising of a Loan of £19,800 by the Gisborne Fire Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government Buildings at Wellington, this 26th day of January 1954 Present:

THE HON. W. SULLIVAN PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 7th day of October 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 Gisborne Fire Board (hereinafter called the said local authority) of a loan of eighteen thousand pounds (£18,000) to be known as 'Construction Loan 1953' for the purpose of constructing a block of four flats to accommodate firemen and their families:

And whereas the authority conferred by the said Order in Council has not been exercised:

And whereas the said local authority, being desirous of raising a loan of one thousand eight hundred pounds (£1,800) to be known as 'Construction Loan No. 2 1953' for the purpose of completing the work for which the Construction Loan 1953 of £18,000 was authorized to be raised, 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 now desirous of raising the said amounts of eighteen thousand pounds (£18,000) and one thousand eight hundred pounds (£1,800) in one sum of nineteen thousand eight hundred pounds (£19,800) to be known as 'Construction Loans Amalgamated Loan 1954' (hereinafter called the said loan), and it is expedient to authorize the said local authority to raise the said loan 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 loan up to an amount of nineteen thousand eight hundred pounds (£19,800) for the said purposes, 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 shall be repaid as follows:

(a) By twenty equal payments of six hundred and thirty pounds two shillings (£630 2s.), 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 payment 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 procurement 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.