872
THE NEW ZEALAND GAZETTE
[No. 31

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

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 the Christchurch City Council (hereinafter called the said local authority), being desirous of raising a loan of twenty thousand pounds, to be known as Domains and Parks Building Loan 1953 (hereinafter called the said loan), for the purpose of constructing buildings to replace Townend House, erecting buildings for Cacti and Succulent House, extending and renewing propagating houses in Botanic Gardens, and providing buildings for motor camps at Rawhiti Domain and Jellicoe Park, 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 thirteen 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 redemption in respect of the said loan 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 loan 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. 49/268/52)

Consenting to the Raising of a Loan of £20,000 by the New Plymouth City Council 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 New Plymouth City Council (hereinafter called the said local authority) being desirous of raising a loan of twenty thousand pounds, to be known as Foreshore Protection Works Loan 1953 (hereinafter called the said loan), for the purpose of carrying out foreshore protection at Kawaroa Park and Mount Bryon Domain, 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 as follows:

(a) By twenty equal payments of six hundred and thirty-six pounds nine shillings and fourpence, one of such payments to be made at the end of every half-year commencing from the date on which the said loan is raised. Each such half-yearly payment shall be applied first, in payment of interest computed at the rate of four per cent per annum on the amount of principal for the time being outstanding at the beginning of each half-year in respect of the said loan, and the balance of such half-yearly payment in reduction of such principal.

(b) By a payment at the end of the tenth year from the date of the raising of the said loan of an amount equal to the amount to which the principal of the said loan has been reduced in accordance with the preceding paragraph (a) hereof after payment of the aforesaid twenty half-yearly payments.

4. The payments referred to in clause 3 hereof shall be made in New Zealand and no such payment shall be made 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. 49/106/19)

Notifying the Proposed Exchange of State Forest Land in the Auckland Conservancy for Other Land

C. W. M. NORRIE, Governor-General

WHEREAS by section 22 of the Forests Act 1949, it is enacted that it shall be lawful for the Governor-General, whenever he deems it expedient in the public interest, to grant in fee-simple any area of State forest land which is subject to the provisions of the Forests Act 1949, in exchange for the fee-simple of any other land, and on any such exchange to pay or receive any sum by way of equality of exchange:

And whereas, in the opinion of the Governor-General, it is expedient to exchange the area of State forest land described in the First Schedule hereto for the land of equal value described in the Second Schedule hereto, and the owner of the land described in the Second Schedule has agreed to such exchange:

Now, therefore, His Excellency the Governor-General of New Zealand, in exercise of the aforesaid powers and authorities, doth hereby declare it is his intention to grant in fee-simple the area of State forest land described in the First Schedule hereto in exchange for the fee-simple of the land described in the Second Schedule.

FIRST SCHEDULE

DESCRIPTION OF LAND AUTHORIZED TO BE EXCHANGED

ALL that area in the North Auckland Land District, Whangaroa County, containing by admeasurement 8 acres and 5 perches, more or less, being part of Section I, Block X, Kaeo Survey District, and being part of the land set apart as permanent State forest (New Zealand Gazette, 1933, page 2648). As the same is more particularly delineated on plan No. 5/62, deposited in the Head Office of the New Zealand Forest Service, Wellington, and thereon bordered red. (S.O. Plan 38229.)

SECOND SCHEDULE

DESCRIPTION OF LAND TO BE OBTAINED IN EXCHANGE THEREFOR

ALL that area in the North Auckland Land District, Whangaroa County, containing by admeasurement 14 acres 1 rood 39 perches, more or less, being Lot 1 on deposited plan No. 41193, being part of Mokau 2B 2 Block, situated in Block XI, Kaeo Survey District, and being part of the land comprised and described in certificate of title, Volume 485, folio 191. As the same is more particularly delineated on plan No. 5/62, deposited in the Head Office of the New Zealand Forest Service, Wellington, and thereon bordered green.

As witness the hand of His Excellency the Governor-General, this 14th day of May, 1954.

T. L. MACDONALD,
For the Minister of Forests.

(F.S. 9/1/147)