18 MARCH] THE NEW ZEALAND GAZETTE 413

Consenting to the Raising of a Loan of £112,500 by the Auckland Harbour Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 3rd day of March 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Auckland Harbour Board (hereinafter called the said local authority), being desirous of raising a loan of one hundred and twelve thousand five hundred pounds (£112,500) to be known as “Auckland Harbour Board Loan 1953, First Issue 1954” (hereinafter called the said loan) for the purpose of carrying out the following works authorized by the Auckland Harbour Board Loan and Empowering Act 1953: Reconditioning dredge Hopai, £65,000; purchase of Government store, £37,500; machinery (slipway and mill), £10,000; 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 one hundred and twelve thousand five hundred pounds (£112,500), 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 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

4. The payment of interest and redemptions in respect of the said loan shall be made in New Zealand and no amount payable as interest or as redemption 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 loan or any part thereof shall not in the aggregate exceed three-quarters 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. 49/260/22)

Consenting to the Raising of Portion (£200,000) of the Auckland City Council’s Loan of £650,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 3rd day of March 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Auckland City Council (hereinafter called the said local authority), being desirous of raising a loan of six hundred and fifty thousand pounds (£650,000) to be known as “Works Loan 1952” (hereinafter called the said loan) for the purpose of carrying out streets and drainage works, erecting depot buildings in Grey Lynn, Tamaki, and Orakei, purchasing land for a depot site at Point Chevalier, constructing a parking area at the Zoological Park, Grey Lynn, constructing conveniences in Blockhouse Bay Road, Avondale, and meeting the cost of raising the loan, has complied with the provisions of the Local Government Loans Board Act 1926 (hereinafter called the said Act):

And whereas by Order in Council made on the 13th day of January 1953 consent was given to the raising of portion of the said loan amounting to sixty thousand pounds (£60,000):

And whereas the said local authority is desirous of raising a further portion of the said loan amounting to two hundred thousand pounds (£200,000) (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 two hundred thousand pounds (£200,000), 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 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

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 procurement 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. 49/121/84)

Constitution of Palmerston North High School Board Varied

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 10th day of March 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

PURSUANT to the proviso to Section 90 of the Education Act 1914 (as set out in Section 10 of the Education Amendment Act 1952), His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby orders as follows.

ORDER

The constitution of the Palmerston North High School Board is hereby varied so that the Board shall hereafter consist of the members to be appointed or elected under section 90 of the Education Act 1914 and one member to be appointed by the Kairanga County Council.

T. J. SHERRARD,
Clerk of the Executive Council.