Consenting to the Raising of a Loan of £175,000 by the
Waitaki Hospital Board 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 Waitaki Hospital Board (hereinafter
called the said local authority), being desirous of
raising a loan of one hundred and seventy-five thousand
pounds, to be known as Nurses’ Home Extensions Loan 1954
(hereinafter called the said loan), for the purpose of erecting
at Oamaru Public Hospital extensions to the Nurses’ Home,
including a tutorial block, dining rooms, kitchen and incidental
works, making alterations to the existing Nurses’
Home, and providing furnishings and equipment, 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:
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 loan for the said purpose up to the amount of one
hundred and seventy-five 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 fifteen 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 fifteen equal payments of seven thousand 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 fifteenth year from
   the date of the raising of the said loan of an amount
   of seventy thousand pounds.
4. The payment of interest and repayment of principal
   in respect of the said loan shall be made in New Zealand.
5. No amount payable either as interest or as principal
   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 loan or
   any part thereof shall not in the aggregate exceed three-
   quarters 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. 49/311/3)
   Consenting to the Raising of Portion (£35,000) of the Hamilton City
   Council’s Loan of £101,000 and Prescribing the Conditions
   Thereof
   C. W. M. NORRIE, Governor-General
   ORDER IN COUNCIL
   At the Government House at Wellington this 1st day of
   September 1954
   Present:
   HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
   WHEREAS the Hamilton City Council (hereinafter called the
   said local authority), being desirous of raising a loan of one
   hundred and one thousand pounds, to be known as Beerscourt
   Sewer Loan 1953 (hereinafter called the said loan), for the purpose
   of providing sewer drainage in the Beerscourt Special Area, has
   complied with the provisions of the Local Government Loans Board
   Act 1926 (hereinafter called the said Act):
   And whereas the said local authority is desirous of raising, in
   the first instance, portion of the said loan amounting to thirty-five
   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 thirty-five thousand pounds, and in
   giving such consent hereby determines as follows:
8. The term for which the said sum or any part thereof may be
   raised shall be ten years.
9. 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.
10. 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.
11. The payment of interest and redemptions in respect of the
    said sum shall be made in New Zealand.
12. No amount payable either as interest or as a redemption in
    respect of the said sum shall be paid out of loan money.
13. 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 three-quarters per cent of any
    amount raised.
14. 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. 49/307/35)
    SCHEDULE
    First Column Second First Column Second
    Year Amount Year Amount
    1st ... ... 600 6th ... ... 800
    2nd ... ... 600 7th ... ... 800
    3rd ... ... 700 8th ... ... 800
    4th ... ... 700 9th ... ... 800
    5th ... ... 700 10th ... ... 28,500
15. The payment of interest and redemptions in respect of the
    said sum shall be made in New Zealand.
16. No amount payable either as interest or as a redemption in
    respect of the said sum shall be paid out of loan money.
17. 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 three-quarters per cent of any
    amount raised.
18. 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. 49/307/42)
    Consenting to the Raising of Portion (£70,000) of the Hamilton City
    Council’s Loan of £198,400 and Prescribing the Conditions
    Thereof
    C. W. M. NORRIE, Governor-General
    ORDER IN COUNCIL
    At the Government House at Wellington this 1st day of
    September 1954
    Present:
    HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
    WHEREAS the Hamilton City Council (hereinafter called the
    said local authority), being desirous of raising a loan of one
    hundred and ninety-eight thousand four hundred pounds, to be
    known as Streets Loan 1951 (hereinafter called the said loan), for
    the purpose of providing concrete kerbing and channelling, bituminous
    footpaths and carriageways throughout the city, fixing permanent
    levels, regrading and resurfacing, meeting incidental costs, and
    purchasing plant for such works, 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 25th day of
    July 1951 consent was given to the raising, in the first instance, of
    portion of the said loan amounting to seventy thousand pounds:
    And whereas the said local authority is now desirous of raising
    a further portion of the said loan amounting to seventy 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 seventy thousand pounds, and in giving
    such consent hereby determines as follows:
19. The term for which the said sum or any part thereof may
    be raised shall be ten years.
20. 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.
21. 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.
22. The payment of interest and redemptions in respect of the
    said sum shall be made in New Zealand.
23. No amount payable either as interest or as a redemption in
    respect of the said sum shall be paid out of loan money.
24. 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 three-quarters per cent of any
    amount raised.
25. 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. 49/307/35)
    SCHEDULE
    First Column Second First Column Second
    Year Amount Year Amount
    1st ... ... 2,300 6th ... ... 2,800
    2nd ... ... 2,400 7th ... ... 3,000
    3rd ... ... 2,600 8th ... ... 3,100
    4th ... ... 2,600 9th ... ... 3,200
    5th ... ... 2,800 10th ... ... 45,200