Varying the Determinations in Respect of the New Lynn Borough Council's Loan of £3,000
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 2nd day of February 1954
Present:
THE RIGHT HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the 7th day of October 1953 (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 in New Zealand by the New Lynn Borough Council (hereinafter called the said local authority) of a loan of three thousand pounds (£3,000) to be known as "Traffic Signals Loan 1950" (hereinafter called the said loan):
And whereas the authority conferred by the said Order in Council has not yet been exercised and it is expedient to cancel the determinations aforesaid in respect of the said loan 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 loan, and in lieu thereof makes the following determinations:

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
   | First Column Half-year | Second Column Amount |
   |---|---|
   | 1st | 100 |
   | 2nd | 100 |
   | 3rd | 100 |
   | 4th | 200 |
   | 5th | 100 |
   | 6th | 100 |
   | 7th | 200 |
   | 8th | 100 |
   | 9th | 100 |
   | 10th | 200 |
   | 11th | 100 |
   | 12th | 200 |
   | 13th | 100 |
   | 14th | 200 |
   | 15th | 200 |
   | 16th | 100 |
   | 17th | 200 |
   | 18th | 200 |
   | 19th | 200 |
   | 20th | 200 |
4. The payment of interest and 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 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 hereof.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/171/8)
   Varying the Determinations in Respect of Portion (£59,000) of the New Lynn Borough Council's Loan of £134,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 2nd day of February 1954
   Present:
   THE RIGHT HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 7th day of October 1953 (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 in New Zealand by the New Lynn Borough Council (hereinafter called the said local authority) of an amount of fifty-nine thousand pounds (£59,000) (hereinafter called the said sum), being portion of a loan of one hundred and thirty-four thousand pounds (£134,000) known as "Roading Reconstruction Loan 1950":
   And whereas the authority conferred by the said Order in Council has not been exercised, 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 determinations aforesaid in respect of the said sum, and in lieu thereof makes the following determinations:
8. The term for which the said sum or any part thereof may be raised shall not exceed ten (10) years.
9. 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.
10. The said sum 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 Half-year | Second Column Amount |
    |---|---|
    | 1st | 900 |
    | 2nd | 1,000 |
    | 3rd | 1,000 |
    | 4th | 1,100 |
    | 5th | 1,000 |
    | 6th | 1,100 |
    | 7th | 1,100 |
    | 8th | 1,100 |
    | 9th | 1,200 |
    | 10th | 1,100 |
    | 11th | 1,200 |
    | 12th | 1,200 |
    | 13th | 1,300 |
    | 14th | 1,200 |
    | 15th | 1,300 |
    | 16th | 1,300 |
    | 17th | 1,400 |
    | 18th | 1,300 |
    | 19th | 1,400 |
    | 20th | 36,800 |
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 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.
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. 49/171/8)
    Varying the Determinations in Respect of the Bay of Islands Harbour Board's Loan of £198,000
    C. W. M. NORRIE, Governor-General
    ORDER IN COUNCIL
    At the Government Buildings at Wellington, this 2nd day of February 1954
    Present:
    THE RIGHT HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
    WHEREAS by Order in Council made on the 15th day of December 1953 (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 in New Zealand by the Bay of Islands Harbour Board (hereinafter called the said local authority) of a loan of one hundred and ninety-eight thousand pounds (£198,000) to be known as "Bay of Islands Harbour Board Loan 1953" (hereinafter called the said loan):
    And whereas the authority conferred by the said Order in Council has not yet been exercised, and it is expedient to cancel the determinations aforesaid in respect of the said loan 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 loan and in lieu thereof makes the following determinations:
15. The term for which the said loan or any part thereof may be raised shall not exceed ten (10) years.
16. 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.
17. 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.