1136
THE NEW ZEALAND GAZETTE
[No. 43

Consenting to the Raising of a Loan of £13,000 by the Geraldine Borough Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 7th day of July 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Geraldine Borough Council (hereinafter called the said local authority) proposes, pursuant to the terms of a requisition issued under section 22 of the Health Act 1920, to raise a loan of thirteen thousand pounds, to be known as Sewerage Loan No. 2, 1954 (hereinafter called the said loan), for the purpose of providing sewerage works and works for the disposal of sewage:

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 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 thirteen 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 four hundred and thirteen pounds fourteen shillings, 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 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. 49/110/4)

Varying the Determinations in Respect of Portion (£1,100) of the Waipawa Borough Council’s Loan of £1,500

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 7th day of July 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 11th day of November 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 Borough Council (hereinafter called the said local authority) of a loan of one thousand five hundred pounds, to be known as Fire Brigade 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 of a portion thereof amounting to one thousand one hundred pounds (hereinafter called 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 determinations aforesaid in respect of the said sum by prescribing that in lieu of a term of fifteen years, as specified in clause 1 of the said Order in Council, the term for which the said sum or any part thereof may be raised shall not exceed five years.

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

(T. 49/342/16)

Varying the Determinations in Respect of Portion (£10,000) of the Morrinsville Borough Council’s Loan of £27,500

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 7th day of July 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 23rd day of February 1954 (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 Morrinsville Borough Council (hereinafter called the said local authority) of the sum of ten thousand pounds (hereinafter called the said sum), being portion of a loan of twenty-seven thousand five hundred pounds, known as Water Supply Improvement Loan 1953:

And whereas the said sum has not yet been raised and it is expedient to 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 that, in lieu of repayment in the manner prescribed in clause 3 of the said Order in Council, the said sum or any part thereof shall be repaid as follows:

(a) By twenty equal payments of three hundred and sixty-five pounds eleven shillings and twopence, one of such payments to be made at the end of every half-year commencing from the date on which the said sum 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 sum, 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 sum of an amount equal to the amount to which the principal of the said sum has been reduced in accordance with the preceding paragraph (a) hereof after payment of the aforesaid twenty half-yearly payments.

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

(T. 49/264/10)

Authorizing the Laying-off of Watson Place in the Borough of Papatoetoe, Subject to a Condition as to the Building Line

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington, this 14th day of July 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

PURSUANT to section 15 of the Municipal Corporations Amendment Act 1953 and section 125 of the Public Works Act 1928, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby authorizes the Papatoetoe Borough Council to permit the laying-off of the proposed street described in the Schedule hereto at a width for the whole of its length of less than 66 ft., but not less than 50 ft., subject to the condition that no building or part of a building shall at any time be erected on Lots 2 and 31 of a subdivision of the land shown edged green on the plan marked P.W.D. 143658, referred to in the Schedule hereto, within a distance of 38 ft. from the centre line of the said street, or on the balance of the land shown edged green on the said plan marked P.W.D. 143658 within a distance of 50 ft. from the centre line of the said street.

SCHEDULE

THAT proposed street in the North Auckland Land District, Borough of Papatoetoe, containing by admeasurement 3 roods 39 perches, more or less, being part Lots 1 and 2, D.P. 35542, and part Lot 2, D.P. 32541, being parts Allotments 102 and 114, Manurewa Parish.

As the same is more particularly delineated on the plan marked P.W.D. 143658, deposited in the office of the Minister of Works at Wellington, and thereon coloured red.

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

(P.W. 51/3376; D.O. 27/31/197)