980
THE NEW ZEALAND GAZETTE
[No. 36
Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
By his Deputy,
H. E. BARROWCLOUGH
ORDER IN COUNCIL
At the Government House at Wellington, this 2nd day of June 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans stated opposite their names therein, have respectively 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 respective local authorities mentioned in the first column of the said Schedule of the respective loans set out in the second column of the said Schedule, up to the respective amounts specified in the third column of the said Schedule, and in giving such consent hereby determines as follows:

1. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in the fourth column of the said Schedule.
2. The rate 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 four per cent per annum.
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 above.
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 procuration 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
   First Column Second Column Third Column Fourth Column
   Name of Local Authority Name of Loan Amount of Term of Loan
   Loan (Years)
   Eketahuna Borough Council .. Truck Loan 1954 .. £
   Lower Hutt City Council .. Community Centre (Halls) Supplementary Loan 1954 .. 5,400 23
   Wairoa Borough Council .. Sewerage Supplementary Loan 1954 .. 2,500 25
   (T. 40/416/6)
   T. J. SHERRARD, Clerk of the Executive Council.
   Consenting to the Raising of Loans by Certain Local Authorities and Prescribing the Conditions Thereof
   C. W. M. NORRIE, Governor-General
   By his Deputy,
   H. E. BARROWCLOUGH
   ORDER IN COUNCIL
   At the Government House at Wellington, this 26th day of May 1954
   Present:
   HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
   WHEREAS the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans stated opposite their names therein, have respectively 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 respective local authorities mentioned in the first column of the said Schedule of the respective loans set out in the second column of the said Schedule, up to the respective amounts specified in the third column of the said Schedule, and in giving such consent hereby determines as follows:
7. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years) stated in the fourth column of the said Schedule.
8. The rate 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 four per cent per annum.
9. 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.
10. The payment of all such instalments shall be made in New Zealand, and no such instalment shall be paid out of loan money.
11. The rate payable for brokerage, underwriting, and procuration 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.
12. No money shall be borrowed under this consent after the expiration of two years from the date hereof.
    SCHEDULE
    First Column Second Column Third Column Fourth Column
    Name of Local Authority Name of Loan Amount of Term of Loan
    Loan (Years)
    Murchison County Council Worker's Dwelling Loan 1954 .. £ 2,500 25
    Rodney County Council Workers' Housing Loan 1953 .. 12,000 25
    (T. 40/416/6)
    T. J. SHERRARD, Clerk of the Executive Council.