22 APRIL] THE NEW ZEALAND GAZETTE 619

4. The payment of all such instalments shall be made in New Zealand and no such instalment shall be paid out of loan money.
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 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. 49/335)

Consenting to the Raising of Loans of £64,500 and £43,000 by the Wellington City Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 7th day of April 1954

Present:

THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL

WHEREAS the Wellington City Council (hereinafter called the said local authority) being desirous of raising the respective loans set out in the first column of the Schedule hereto, 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 loans:

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 respective loans set out in the first column of the said Schedule, up to the respective amounts specified in the second column of the said Schedule, and in giving such consent hereby determines as follows:

1. The term for which the said loans or any parts thereof may be raised shall not exceed thirty-five years.
2. The rates of interest that may be paid in respect of the said loans or any parts thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding the respective rates per cent per annum stated in the third column of the said Schedule.
3. The said respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the respective terms as determined in clause 1 hereof.
4. The payment of all such instalments shall be made in New Zealand and no such instalment shall be paid out of loan money.
5. The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said respective loans or any parts thereof shall not in the aggregate exceed one-half 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.

SCHEDULE

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

(T. 49/168/126)

Consenting to the Raising of Portion (£20,000) of the Waipawa Hospital Board’s Loan of £123,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 7th day of April 1954

Present:

THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL

WHEREAS the Waipawa Hospital Board (hereinafter called the said local authority) being desirous of raising a loan of one hundred and twenty-three thousand pounds to be known as “Building Loan 1952” (hereinafter called the said loan) for the purpose of erecting and equipping a new boiler-house and a new laundry, rebuilding the male staff quarters and workshops, providing an emergency water reservoir, fire services, garage accommodation, and steam services to the Raymond Annexe, constructing a new incinerator and garbage disposal unit, and meeting incidental costs, 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 24th day of February 1953 consent was given to the raising in the first instance of portion of the said loan amounting to nine thousand pounds:

And whereas the said local authority is now desirous of raising a further portion of the said loan amounting to twenty 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 twenty 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 as follows:
   (a) By ten equal payments of one thousand pounds 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.
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 money.
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 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. 49/332/7)

Consenting to the Raising of Portion (£20,000) of the Kaiapoi Borough Council’s Loan of £100,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 7th day of April 1954

Present:

THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL

WHEREAS the Kaiapoi Borough Council (hereinafter called the said local authority) being desirous of raising a loan of one hundred thousand pounds to be known as “Sewerage Loan 1952” (hereinafter called the said loan) for the purpose of installing a sewerage scheme in the Borough and meeting all incidental costs, 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 23rd day of June 1953 consent was given to the raising in the first instance of portion of the said loan amounting to twenty thousand pounds:

And whereas the said local authority is now desirous of raising a further portion of the said loan amounting to twenty 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 twenty 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 be 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 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