Varying the Determinations in Respect of Portion (£29,000)
of the Buller Electric Power Board's Loan of £197,000

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 13th day
of December 1950, and subject to the determinations
as to borrowing and repayment therein set out, consent was
given to the raising in New Zealand by the Buller Electric
Power Board (hereinafter called the said local authority)
of the sum of sixty thousand seven hundred pounds, being
portion of a loan of one hundred and ninety-seven thousand
pounds known as Purchasing and Construction Loan 1950;
And whereas by Orders in Council made on the 3rd
day of December 1952 and the 1st day of April 1953
certain of the determinations aforesaid were varied in respect
of portion of the said amount of sixty thousand seven hundred
pounds amounting to twenty-nine thousand pounds (hereinafter
called the said sum):
And whereas the said sum has not yet been raised and
it is expedient to cancel the determinations aforesaid, as
varied by the Orders in Council made on the 3rd day of
December 1952 and the 1st day of April 1953, 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 determinations
aforesaid in respect of the said sum and in lieu thereof
makes the following determinations:

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 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
   First Column
   Year
   2nd
   3rd
   4th
   5th
   Second
   Column
   Amount
   £
   ...
   ...
   ...
   ...
   800
   800
   900
   900
   1,000
   First Column
   Year
   6th
   7th
   8th
   9th
   10th
   Second
   Column
   Amount
   £
   ...
   ...
   ...
   ...
   ...
   1,000
   1,000
   1,100
   1,100
   20,400
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
   procuration 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. 49/726/1)
   Varying the Determinations in Respect of the Balance
   (£10,000) of the Bay of Plenty Hospital Board's Loan
   of £40,000

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 10th day of
March 1952, and subject to the determinations as to
borrowing and repayment therein set out, consent was given
to the raising in New Zealand by the Bay of Plenty Hospital
Board (hereinafter called the said local authority) of a loan
of forty thousand pounds, to be known as Maternity Annexe
Extension Loan 1951 (hereinafter called the said loan):
And whereas by Order in Council made on the 7th day
of October 1953 the determinations aforesaid were varied in
respect of the balance of the said loan then unraised
amounting to twenty thousand pounds:
And whereas the sum of ten thousand pounds (hereinafter called the said sum) 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 sum by
prescribing as follows:

1. In lieu of the term of ten years, as specified in clause
   1 of the Order in Council made on the 7th day of October
   1953, 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 Order in Council made on the 7th day of
   October 1953, the said local authority shall, before raising
   the said sum or any part thereof, make provision for the
   repayment thereof by establishing a sinking fund under the
   Local Bodies' Loans Act 1926, or under such other statutory
   enactment as may be applicable, and shall thereafter make
   payments to such sinking fund at intervals of not more than
   one year at a rate or rates per cent which shall be not less
   than three pounds twelve shillings and sevenpence, such
   payments to be made in respect of every part of the said sum
   for the time being so borrowed and not repaid, the first such
   payment to be made not later than one year after the first
   day from which interest to the lender or lenders is computed
   on the said sum or any part thereof so raised.
   T. J. SHERRARD,
   Clerk of the Executive Council.
   (T. 49/589/9)
   Consenting to the Raising of Portion (£5,000) of the Buller
   Electric Power Board's Loan of £197,000 and Prescribing
   the Conditions Thereof

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 16th day of
April 1952 (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 Buller Electric Power Board (hereinafter
called the said local authority) of an amount of thirty-eight
thousand three hundred pounds, being portion of a loan of
one hundred and ninety-seven thousand pounds known as
Purchasing and Construction Loan 1950:
And whereas an amount of twelve thousand three hundred
pounds has not yet been raised:
And whereas the authority conferred by the said Order
in Council has lapsed in accordance with the provisions of
clause 8 thereof and it is not now lawful or competent for
the said local authority to raise the balance of the said
amount of thirty-eight thousand three hundred pounds 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 the said local authority is now desirous of
raising a further portion of the said amount of thirty-eight
thousand three hundred pounds amounting to five thousand
pounds (hereinafter called the said sum) 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 the amount of five thousand pounds for the
purpose for which the said amount of thirty-eight thousand
three hundred pounds 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 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 in
   one sum at the end of the tenth year from the date of the
   raising thereof.
4. The payment of interest and repayment of principal
   in respect of the said sum shall be made in New Zealand.
5. No amount payable as either interest or principal in
   respect of the said sum shall be paid out of loan money.
6. The rate payable for brokerage, underwriting, and
   procuration 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. 49/726/1)