1 July] THE NEW ZEALAND GAZETTE 1071

Varying the Determinations in Respect of the Waipawa County
Council’s Loan of £4,000

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

At the Government House at Wellington, this 23rd day of
June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL 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 Waipawa County Council
(hereinafter called the said local authority) of a loan of four
thousand pounds, to be known as Ashcott Water Race Loan
1953 (hereinafter called the said loan):

And whereas the said loan has not been raised and it is
expedient to vary certain of the determinations 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 loan by prescribing as
follows:

1. In lieu of a term of twenty 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
   ten years.

2. In lieu of repayment in the manner specified in clause
   3 of the said Order in Council, the said loan or any part
   thereof shall be repaid by equal annual instalments of
   principal extending over the term of ten years.

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

(T. 49/494/7)

Varying the Determinations in Respect of the Mauriceville
County Council’s Loan of £3,700

C. W. M. NORRIE, Governor-General
By his Deputy,
H. E. BARROWCLOUGH
ORDER IN COUNCIL

At the Government House at Wellington, this 16th day of
June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 24th day of
August 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 Mauriceville County
Council (hereinafter called the said local authority) of a
loan of three thousand seven hundred pounds, 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 cancel the determinations aforesaid in respect
of the said loan 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 loan, and in lieu thereof makes the
following determinations:

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 one hundred and
seventeen pounds fourteen shillings and eleven-
pence, 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
such 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 a sum
equal to the amount to which the principal of the
said loan has been reduced in accordance with the
preceding paragraph (a) hereof after pay-
ment 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
   procuration 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. 49/200/3)

Varying the Determinations in Respect of the Balance
(£2,890) of the Masterton County Council’s Loan of
£10,000

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

At the Government House at Wellington, this 23rd day of
June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 31st day of
July 1940 (hereinafter called the said Order in Council),
and subject to the determinations as to borrowing and repay-
ment therein set out, consent was given to the raising in New
Zealand by the Masterton County Council (hereinafter called
the said local authority) of a loan of ten thousand pounds,
to be known as Rural Housing Loan 1940 (hereinafter called
the said loan):

And whereas the authority conferred by the said Order in
Council has not been exercised to the extent of two thousand
eight hundred and ninety pounds (hereinafter called the said
sum), 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 certain of the deter-
minations aforesaid in respect of the said sum by prescribing
that in lieu of a rate of interest not exceeding three pounds
per cent 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
three and a half per cent per annum.

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

(T. 49/127/18)

Varying the Determinations in Respect of the Wairoa
Electric Power Board’s Loan of £10,000

C. W. M. NORRIE, Governor-General
By his Deputy,
H. E. BARROWCLOUGH
ORDER IN COUNCIL

At the Government House at Wellington, this 16th day of
June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 20th day of
March 1951, and subject to the determinations as to
borrowing and repayment therein set out, consent was given
to the raising in New Zealand by the Wairoa Electric Power
Board (hereinafter called the said local authority) of a loan
of ten thousand pounds, to be known as Reticulation Loan
1950 (hereinafter called the said loan):

And whereas by Orders in Council made on the 28th day
of January 1953 and the 2nd day of September 1953 certain
of the determinations aforesaid were varied in respect of
the said loan:

And whereas the said loan has still not yet been raised
and it is expedient to again 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 loan by prescribing that in
lieu of repayment in the manner prescribed in clause 3 of
the Order in Council made on the 20th day of March 1951
the said loan or any part thereof shall be repaid as follows:

(a) By ten equal payments of five hundred pounds each,
one of such payments to be made at the end of
every year commencing from the date on which
the said loan is raised.

(b) By a payment at the end of the tenth year from the
date of raising the said loan of an amount of
five thousand pounds.

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

(T. 49/462/5)