Varying the Determinations in Respect of Portion (£3,000) of the Waipawa Borough Council's Loan of £24,250

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 8th day of September 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Order in Council made on the 7th day of July 1954, 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 the sum of three thousand pounds (hereinafter called the said sum), being portion of a loan of twenty-four thousand two hundred and fifty pounds known as General Purposes Loan 1953:
And whereas the said sum has not yet been raised and it is expedient to cancel the determinations aforesaid in respect of the said sum 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 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 as follows:
   (a) By twenty equal payments of one hundred and nine pounds thirteen shillings and fourpence, 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.
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 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. 49/342/14)

Varying the Determinations in Respect of the Wairarapa Electric Power Board's Loan of £13,000

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 8th day of September 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Order in Council made on the 14th day of July 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 Wairarapa Electric Power Board (hereinafter called the said local authority) of a loan of thirteen thousand pounds, to be known as Staff Housing Loan 1954 (hereinafter called the said loan):
And whereas the said loan 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 loan by prescribing as follows:

1. In lieu of a term of twenty-five 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 prescribed in clause 3 of the said Order in Council, 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 eight thousand pounds.
   T. J. SHERRARD, Clerk of the Executive Council.
   (T. 49/133/21)

Consenting to the Raising of a Loan of £80,000 by the Lower Hutt City Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 8th day of September 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Lower Hutt City Council (hereinafter called the said local authority) proposes, pursuant to the terms of a Warrant issued under section 135 of the Public Works Act 1928, to raise a loan of eighty thousand pounds, to be known as Melling Bridge Loan 1954 (hereinafter called the said loan), for the purpose of meeting the said local authority's share of the cost of constructing a bridge across the Hutt River at Melling:
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 eighty 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 thirty-five 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, 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 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. 49/11/44)

Consenting to the Raising of a Rural Housing Loan of £50,000 by the Matamata County Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 8th day of September 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Matamata County Council is desirous of raising from the State Advances Corporation of New Zealand (hereinafter called the Corporation) a loan of fifty thousand pounds, to be known as Rural Housing Loan 1954 (hereinafter called the said loan), for the purpose of making advances to farmers in terms of the Rural Housing Act 1939:
And whereas the said Council has 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 loan: