17 JUNE] THE NEW ZEALAND GAZETTE 1003

Consenting to the Raising of the Balance (£10,000) of the Feilding Borough Council’s Loan of £22,000 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 Feilding Borough Council (hereinafter called the said local authority) being desirous of raising a loan of twenty-two thousand pounds to be known as Streets and Footpaths Loan 1953 (hereinafter called the said loan) for the purpose of tar-sealing streets and constructing and renovating footpaths, 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 22nd day of July 1953 consent was given to the raising in the first instance of portion of the said loan amounting to twelve thousand pounds:

And whereas the said local authority is now desirous of raising the balance of the said loan amounting to ten 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 ten 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 twelve and a half 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 annual redemption of debentures on the dates set out in the first column of the Schedule hereunder of the amounts stated opposite each such date in the second column of the said Schedule.

SCHEDULE

4. The payment of interest and redemptions in respect of the said sum shall be made in New Zealand.

5. No amount payable either as interest or as a redemption in respect of the said sum shall be paid out of loan money.

6. The rate payable for brokerage, underwriting, and pro-curation 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. 49/415/15)

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Consenting to the Raising of the Balance (£7,100) of the Newmarket Borough Council’s Loan of £21,500

—

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 by Order in Council made on the 1st day of March 1950 (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 by the Newmarket Borough Council (hereinafter called the said local authority) of a loan of twenty-one thousand five hundred pounds to be known as Streets and Parks Improvement Loan 1949 (hereinafter called the said loan):

And whereas the authority conferred by the said Order in Council has lapsed in accordance with the provisions of clause 7 thereof and it is not now lawful or competent for the said local authority to raise the said loan or any portion thereof except in accordance with the provisions of a further Order in Council that may be issued pursuant to section 11 of the Local Government Loans Board Act 1926 (hereinafter called the said Act):

And whereas an amount of seven thousand one hundred pounds (hereinafter called the said sum) has not yet been raised, and it is expedient to authorize the said local authority to raise the said sum on the conditions hereinafter set out:

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 up to an amount of seven thousand one hundred pounds for the purpose for which the said loan was authorized, 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 fifteen 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, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the term 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 pro-curation 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.

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. 49/186/21)

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Consenting to the Raising of Portion (£48,000) of the Auckland Harbour Bridge Authority’s Loan of £400,000 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 9th day of June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Auckland Harbour Bridge Authority (hereinafter called the said local authority), being desirous of raising a loan of four hundred thousand pounds, to be known as Auckland Harbour Bridge Loan (No. 2) 1953 (hereinafter called the said loan), for the purpose of providing for amounts payable to the Crown in respect of preliminary costs and expenses, consulting engineers’ fees and expenses, re-siting submarine telegraph cables, reclamation at Point Erin, acquisition of properties, and other expenditure incidental to the construction of an Auckland Harbour Bridge and for the payment of interest on the loan and the cost of raising the loan, 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 30th day of November 1953 consent was given to the raising in the first instance of portion of the said loan amounting to one hundred and sixty-five thousand pounds:

And whereas the said local authority is now desirous of raising a further portion of the said loan amounting to forty-eight 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 forty-eight thousand pounds, and in giving such consent hereby determines as follows:

1. 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; such interest to be compounded with half-yearly rests until repayment of the said sum:

2. The said sum or any part thereof shall be repaid in one sum on the 28th day of March 1957.

3. The repayment of the said sum shall be made in New Zealand.

4. The rate payable for brokerage, underwriting, and pro-curation 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.

5. 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. 49/796)