Authorizing the Borrowing by the Auckland Metropolitan Drainage Board by Way of Hypothecation of Debentures Issued in Respect of a Loan of £60,000

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 22nd day of December 1953
Present:
THE 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 Auckland Metropolitan Drainage Board (hereinafter called the said local authority) of a loan of sixty thousand pounds (£60,000) to be known as 'Loan No. 11 1953' (hereinafter called the said loan):
And whereas the said local authority, pending the raising of the said loan in accordance with the said determinations, is desirous of borrowing the said loan or part thereof by hypothecation or mortgage pursuant to section 34 of the Local Bodies' Loans Act 1926 of the debentures authorized to be issued in respect of the said loan:
Now, therefore, pursuant to section 7 of the Local Authorities Interest Reduction and Loans Conversion Act 1932-33 and section 8 of the Local Authorities Interest Reduction and Loans Conversion Amendment Act 1933, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby consents to the said local authority, pending the raising of the said loan in accordance with the said determinations, borrowing the said loan or any part thereof by the hypothecation or mortgage of the said debentures at a rate of interest not exceeding four pounds (£4) per centum per annum, and hereby prescribes that the money borrowed by the hypothecation or mortgage of the said debentures shall, pending the raising of the said loan, be repaid by half-yearly instalments equivalent to the instalments of principal which would have been repaid if on the first day on which any moneys are borrowed by such hypothecation or mortgage the whole of the said loan of sixty thousand pounds (£60,000) has been raised on the terms prescribed by the said Order in Council.
T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/393/17)
Varying the Determination in Respect of the Akitio County Council's Loan of £4,000
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 22nd day of December 1953
Present:
THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the 24th day of February 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 Akitio County Council (hereinafter called the said local authority) of a loan of four thousand pounds (£4,000) to be known as 'Bridges Loan 1953' (hereinafter called the said loan):
And whereas the said loan has not yet been raised and it is expedient to vary certain of the determinations aforesaid in respect of the said loan:
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 varies certain of the determinations aforesaid in respect of the said loan by prescribing that in lieu of a term of twenty (20) years, as specified in clause 1 of the said Order in Council, the term for which the said loan or any part thereof may be raised shall not exceed fifteen (15) years.
T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/180/19)
Varying the Determinations in Respect of the Balance (£1,220) of the Akitio County Council's Loan of £4,220
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government Buildings at Wellington, this 22nd day of December 1953
Present:
THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the 24th day of March 1952 (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 Akitio County Council (hereinafter called the said local authority) of a loan of four thousand two hundred and twenty pounds (£4,220) to be known as 'Bridges Loan 1952' (hereinafter called the said loan):
And whereas portion of the said loan amounting to one thousand two hundred and twenty pounds (£1,220) (hereinafter called the said sum) has not yet been raised and it is expedient to vary certain of the determinations aforesaid in respect of the said sum:
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 varies the determinations aforesaid in respect of the said sum by prescribing as follows:

1. In lieu of a term of twenty (20) years, as specified in clause 1 of the said Order in Council, the term for which the said sum or any part thereof may be raised shall not exceed fifteen (15) years.
2. In lieu of a rate of interest not exceeding three pounds five shillings (£3 5s.) per centum per annum, as specified in clause 2 of the said Order in Council, 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.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/180/9)
   Varying the Determinations in Respect of Portion (£3,000) of the Waitomo Electric Power Board's Loan of £6,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 15th day of December 1953
   Present:
   THE RIGHT HON. S. G. HOLLAND PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 23rd day of June 1953 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Waitomo Electric Power Board (hereinafter called the said local authority) of a loan of six thousand pounds (£6,000) to be known as 'Housing Loan 1953' (hereinafter called the said loan):
   And whereas the said loan has not yet been raised and it is expedient to cancel the determinations aforesaid in respect of portion of the said loan amounting to three thousand pounds (£3,000) (hereinafter called 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 aforesaid determinations in respect of the said sum and in lieu thereof makes the following determinations:
3. The term for which the said sum or any part thereof may be raised shall not exceed ten (10) years.
4. 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.
5. The said sum or any part thereof shall be repaid by equal annual instalments of principal extending over the term as determined in 1 above.
6. The payment of interest and the repayment of principal in respect of the said sum shall be made in New Zealand.
7. No amount payable either as interest or as principal in respect of the said sum shall be paid out of loan moneys.
8. 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 one-half per centum of any amount raised.
9. 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. 49/176/15)
   Varying the Determinations in Respect of the Birkenhead Borough Council's Loan of £3,000
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government Buildings at Wellington, this 22nd day of December 1953
   Present:
   THE HON. K. J. HOLYOAKE PRESIDING IN COUNCIL
   WHEREAS by Order in Council made on the 30th day of September 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 Birkenhead Borough Council (hereinafter called the said local authority) of a loan of three thousand pounds (£3,000) to be known as 'Beachhaven Recreation Ground Loan 1953' (hereinafter called the said loan):