✨ Loan consents
- No amount payable either as interest or as principal
shall be paid out of loan money. - 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-
quartfers per cent of any amount raised. - 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. 49/236/10)
Consenting to the Raising of Portion (£75,000) of the Auckland
City Council’s Loan of £220,000 and Prescribing the
Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 29th day of
September 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Order in Council made on the 14th day
of November 1951 (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 Auckland City Council (hereinafter called
the said local authority), of a loan of two hundred and twenty
thousand pounds, to be known as Waterworks Reservoirs
Loan 1951 (hereinafter called the said loan):
And whereas the authority conferred by the said Order
in Council has not yet been exercised to the extent of one
hundred and forty thousand pounds:
And whereas the authority has lapsed in accordance with
the provisions of clause 6 of the said Order in Council, and
it is not now lawful or competent for the said local authority
to raise the said amount of one hundred and forty thousand
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 loan amounting to
seventy-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 seventy-five thousand pounds
for the purpose for which the said loan was authorized, and
in giving such consent hereby determines as follows: - The term for which the said sum or any part thereof
may be raised shall be ten years. - 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. - The said sum or any part thereof shall be repaid by
the half-yearly redemption of debentures in the half-years set
out in the first column of the Schedule hereunder of the
amounts stated opposite each such half-year in the second
column of the said Schedule.
SCHEDULE
| First Column | Second | First Column | Second |
| --- | --- | --- | --- |
| Half-year | Column | Half-year | Column |
| Amount | Amount | Amount | Amount |
| £ | | £ | |
| 1st | … | 900 | 11th | … | 1 100 |
| 2nd | … | 900 | 12th | … | 1,100 |
| 3rd | … | 900 | 13th | … | 1,100 |
| 4th | … | 900 | 14th | … | 1,100 |
| 5th | … | 1,000 | 15th | … | 1,200 |
| 6th | … | 1,000 | 16th | … | 1,200 |
| 7th | … | 1,000 | 17th | … | 1,200 |
| 8th | … | 1,000 | 18th | … | 1,300 |
| 9th | … | 1,000 | 19th | … | 1,300 |
| 10th | … | 1,100 | 20th | … | 54,700 | - The payment of interest and redemptions in respect
of the said sum shall be made in New Zealand. - No amount payable either as interest or as a
redemption in respect of the said sum shall be paid out of
loan money. - 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-
quartfers per cent of any amount raised. - 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. 49/121/76)
Consenting to the Raising of Portion (£50,000) of the
Masterton Borough Council's Loan of £173,250 and
Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 29th day of
September 1954
Present:
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Masterton Borough Council (hereinafter
called the said local authority), being desirous of raising
a loan of one hundred and seventy-three thousand two hundred
and fifty pounds, to be known as Waterworks and Sewerage
Improvement Loan 1953 (hereinafter called the said loan),
for the purpose of carrying out water supply improvement
and water main and sewer extensions, 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 15th day
of December 1953 consent was given to the raising of portion
of the said loan amounting to twenty-five thousand pounds:
And whereas the said local authority is now desirous of
raising a further portion of the said loan amounting to fifty
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 fifty
thousand pounds, and in giving such consent hereby
determines as follows: - The term for which the said sum or any part thereof
may be raised shall be ten years. - 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. - 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 | Second | First Column | Second |
| --- | --- | --- | --- |
| Year | Column | Year | Column |
| | Amount | | Amount |
| £ | | £ | |
| 1st | … | 800 | 6th | … | 1,100 |
| 2nd | … | 1,000 | 7th | … | 1,100 |
| 3rd | … | 900 | 8th | … | 1,200 |
| 4th | … | 1,000 | 9th | … | 1,200 |
| 5th | … | 1,100 | 10th | … | 40,600 | - The payment of interest and redemptions in respect
of the said sum shall be made in New Zealand. - No amount payable either as interest or as a
redemption in respect of the said sum shall be paid out of
loan money. - 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-
quartfers per cent of any amount raised. - 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. 49/238/16)
Consenting to the Raising of the Balance (£92,000) of the
Palmerston North Hospital Board's Loan of £122,000
and Prescribing the Conditions Thereof
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 29th day of
September 1954
Present:
HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS the Palmerston North Hospital Board (herein-
after called the said local authority), being desirous
of raising a loan of one hundred and twenty-two thousand
pounds, to be known as Building Loan No. 2 1953 (herein-
after called the said loan), for the purpose of making
additions and alterations to the buildings at the Palmerston
North Hospital, 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 23rd day
of February 1954 consent was given to the raising, in the
first instance, of portion of the said loan amounting to thirty
thousand pounds:
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VUW Te Waharoa —
NZ Gazette 1954, No 64
NZLII —
NZ Gazette 1954, No 64
✨ LLM interpretation of page content
💰 Auckland City Council loan portion consent (£75,000)
💰 Finance & Revenue29 September 1954
Auckland City Council, waterworks loan, 10-year term, 4% interest
- C. W. M. NORRIE, Governor-General
- T. J. SHERRARD, Clerk of the Executive Council.
💰 Masterton Borough Council loan portion consent (£50,000)
💰 Finance & Revenue29 September 1954
Masterton Borough Council, waterworks loan, 10-year term, 4% interest
- C. W. M. NORRIE, Governor-General
- T. J. SHERRARD, Clerk of the Executive Council.
💰 Palmerston North Hospital Board loan balance consent (£92,000)
💰 Finance & Revenue29 September 1954
Palmerston North Hospital Board, hospital loan, building improvements, 10-year term, 4% interest
- C. W. M. NORRIE, Governor-General
- T. J. SHERRARD, Clerk of the Executive Council.