20 MAY] THE NEW ZEALAND GAZETTE 869

SCHEDULE

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

(T. 49/11/42)

Varying the Determination in Respect of Portion (£25,000)
of the Lower Hutt City Council’s Loan of £32,000

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

At the Government House at Wellington, this 5th day of May 1954

Present:

His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the 28th day of April 1954 (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 Lower Hutt City Council (hereinafter called the said local authority) of the sum of twenty-five thousand pounds (hereinafter called the said sum), being portion of a loan of thirty-two thousand pounds known as Community Centres (Baths No. 1) Loan 1952:

And whereas the said sum has not yet been raised, and it is expedient to vary certain of the determinations aforesaid in respect 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 varies certain of the determinations aforesaid in respect of the said sum by prescribing as follows:

1. In lieu of a term of ten 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 years.

2. In lieu of repayment in the manner prescribed in clause 3 of the said Order in Council the said sum 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 Schedule.

SCHEDULE

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

(T. 49/809/2)

Consenting to the Raising of Portion (£250,000) of the Auckland City Council’s Loan of £1,698,000 and Prescribing the Conditions Thereof

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

At the Government House at Wellington, this 12th day of May 1954

Present:

His Excellency the Governor-General in Council

WHEREAS the Auckland City Council (hereinafter called the said local authority) is desirous, pursuant to the terms of a requisition issued under section 22 of the Health Act 1920, of raising a loan of one million six hundred and ninety-eight thousand pounds, to be known as Cossey’s Creek Development Loan 1951 (hereinafter called the said loan), for the purpose of providing waterworks comprising the development of the Cossey’s Creek water supply scheme:

And whereas by Orders in Council made on the 14th day of November 1951, the 6th day of August 1952, and the 17th day of June 1953, consent was given to the raising by the said local authority of portions of the said loan amounting in the aggregate to six hundred and thirty-seven thousand six hundred pounds:

And whereas the said local authority is arranging to raise a further portion of the said loan amounting to two hundred and fifty 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 Local Government Loans Board Act 1926 (hereinafter called 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 and fifty 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 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

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

(T. 49/11/40)

Varying the Determinations in Respect of Portion (£100,000)
of the Hutt Valley Drainage Board’s Loan of £850,000

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

At the Government House at Wellington, this 5th day of May 1954

Present:

His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the 31st day of March 1954 (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 Hutt Valley Drainage Board (hereinafter called the said local authority) of the sum of one hundred thousand pounds (hereinafter called the said sum), being portion of a loan of eight hundred and fifty thousand pounds known as Sewage Disposal Loan 1954:

And whereas the said sum has not yet been raised, and it is expedient to vary certain of the determinations aforesaid in respect 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 varies certain of the determinations aforesaid in respect of the said sum by prescribing as follows:

1. In lieu of a term of ten 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 years.

2. In lieu of repayment in the manner prescribed in clause 3 of the said Order in Council the said sum 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.