256

THE NEW ZEALAND GAZETTE [No. 12

Consenting to the Raising of the Balance (£20,000) of the Otago Harbour Board’s Loan of £50,000

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 10th day of February 1954 Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL WHEREAS by Order in Council made on the 25th day of May 1949 (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 by the Otago Harbour Board (hereinafter referred to as the said local authority) of a loan of fifty thousand pounds (£50,000) to be known as “Harbour Works Loan 1939, £400,000 (Third Issue, £50,000, 1945)” (hereinafter called the said loan):

And whereas the authority conferred by the said Order in Council has lapsed in accordance with the provisions of clause 7 thereof and it is not now lawful or competent for the said local authority to raise the said loan or any portion thereof except in accordance with the provisions of a further Order in Council that may be issued pursuant to section 11 of the Local Government Loans Board Act 1926 (hereinafter called the said Act):

And whereas an amount of twenty thousand pounds (£20,000) (hereinafter called the said sum) has not yet been raised and it is expedient to authorize the said local authority to raise the said sum 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 sum up to an amount of twenty thousand pounds (£20,000) for the purpose for which the said loan was authorized, 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 not exceed twenty (20) 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, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the term as determined in 1 above.

4. The payment of such instalments shall be made in New Zealand and no such instalment shall be paid out of loan moneys.

5. The rate payable for brokerage, underwriting, and procurement 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.

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. 49/18/3)

Consenting to the Raising of Portion (£20,000) of the Ashburton Electric Power Board’s Loan of £80,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 10th day of February 1954 Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL WHEREAS the Ashburton Electric Power Board (hereinafter called the said local authority), being desirous of raising a loan of eighty thousand pounds (£80,000) to be known as “Special Loan No. 11 1953” (hereinafter called the said loan) for the purpose of further reticulating the Ashburton Electric Power District, has complied with the provisions of the Local Government Loans Board Act 1926 (hereinafter called the said Act):

And whereas by Orders in Council made on the 4th day of March 1953 and the 12th day of August 1953 consent was given to the raising of portions of the said loan amounting in the aggregate to forty thousand pounds (£40,000).

And whereas the said local authority is now desirous of raising a further portion of the said loan amounting to twenty thousand pounds (£20,000) (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 thousand pounds (£20,000), 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 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 ten equal payments of one thousand pounds (£1,000) each, one of such payments to be made at the end of every 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 the raising of the said sum of an amount of ten thousand pounds (£10,000).

4. The payment of interest and 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 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 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. 49/378/12)

Consenting to the Raising of a Loan of £25,000 by the Hawke’s Bay Hospital Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General ORDER IN COUNCIL At the Government House at Wellington, this 10th day of February 1954 Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL WHEREAS the Hawke’s Bay Hospital Board (hereinafter called the said local authority), being desirous of raising a loan of twenty-five thousand pounds (£25,000) to be known as ‘‘Napier Hospital Boiler Loan 1953’’ (hereinafter called the said loan) for the purpose of purchasing and installing two Cochran Economic Boilers and extending the boilerhouse at Napier Hospital, 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-five thousand pounds (£25,000), 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 fifteen (15) 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 ten equal half-yearly payments of nine hundred pounds (£900) each, the first such payment to be made at the end of the first half-year from the date on which the said loan is raised.

(b) Thereafter by twenty equal half-yearly payments of eight hundred pounds (£800) each.

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 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. 49/237/12)