8 APRIL] THE NEW ZEALAND GAZETTE 551

authority of the said loan for the said purpose up to the
amount of seventy-six thousand pounds, 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 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 per cent 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

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 redemp-
   tion in respect of the said loan shall be paid out of loan
   money.

6. The rate payable for brokerage, underwriting, and
   procuration fees in respect of the raising of the said loan or
   any part thereof shall not in the aggregate exceed three-
   quarters per cent of any amount raised.

7. No money 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. 49/121/90)

Consenting to the Raising of Portion (£100,000) of the Hutt
Valley Drainage Board’s Loan of £850,000 and Prescribing
the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 31st day of
March 1954.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Hutt Valley Drainage Board (hereinafter
called the said local authority) being desirous of
raising a loan of eight hundred and fifty thousand pounds to
be known as ‘‘Sewage Disposal Loan 1954’’ (hereinafter
called the said loan) for the purpose of carrying out a scheme
for the disposal of sewage from the Hutt Valley including the
construction of a main pumping station, a main outfall sewer
with an outfall near Pencarrow, and ancillary works and
preliminary expenses, 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
one hundred thousand pounds (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 one
hundred thousand pounds, 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 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 per
   cent per annum.

3. The said sum 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 and no amount
   payable as interest or as a redemption shall be paid out of
   loan money.

5. 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 cent of any amount raised.

6. No money 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. 49/809/2)

Consenting to the Raising of a Loan of £20,000 by the
Lower Hutt City Council and Prescribing the Conditions
Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 31st day of
March 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Lower Hutt City Council (hereinafter
called the said local authority) being desirous of
raising a loan of twenty thousand pounds to be known as
‘‘Bus Station Site Loan (No. 2) 1953’’ (hereinafter called
the said loan) for the purpose of meeting the cost of
acquiring and developing property as a site for a bus station,
including payment of compensation, 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 thousand pounds, 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 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 per cent per annum.

3. The said loan 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 loan shall be made in New Zealand.

5. No amount payable either as interest or as a redemp-
   tion in respect of the said loan shall be paid out of loan
   money.

6. The rate payable for brokerage, underwriting, and
   procuration fees in respect of the raising of the said loan
   or any part thereof shall not in the aggregate exceed three-
   quarters per cent of any amount raised.

7. No money 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. 49/11/42)