21 Oct.]

THE NEW ZEALAND GAZETTE

1657

Maori Land Taken for Soil-conservation and River-control Purposes in Blocks VIII and IX, Waitohu Survey District

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington this 13th day of October 1954
Present:
His Excellency The Governor-General in Council

Pursuant to the Public Works Act 1928, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby proclaims and declares that the Maori land described in the Schedule hereto is hereby taken for soil-conservation and river-control purposes, and that the said land shall vest in Her Majesty the Queen as from the 22nd day of November 1954.

SCHEDULE

Situated in Waitohu Survey District. In the Wellington Land District; as the same are more particularly delineated on the plans marked and coloured as above mentioned and deposited in the office of the Minister of Works at Wellington.

T. J. SHERRARD, Clerk of the Executive Council.
(P.W. 96/318000 ; D.O. 8/2/10/0)

Consenting to the Raising of a Loan of £10,000 by the Waitomo Electric Power Board and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington this 6th day of October 1954
Present:
His Excellency The Governor-General in Council

Whereas the Waitomo Electric Power Board (hereinafter called the said local authority), being desirous of raising a loan of ten thousand pounds, to be known as Building Completion Loan 1954 (hereinafter called the said loan), for the purpose of completing building premises in King Street, Te Kuiti, to provide adequate administrative and engineering staff accommodation, 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 ten 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 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 the raising of the said loan of an amount of five 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 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.
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. 49/176/17)

Consenting to the Raising of a Loan of £6,000 by the Kaikoura County Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington this 13th day of October 1954
Present:
His Excellency The Governor-General in Council

Whereas the Kaikoura County Council (hereinafter called the said local authority), being desirous of raising a loan of six thousand pounds, to be known as Building Loan 1954 (hereinafter called the said loan), for the purpose of (a) refunding to County Fund Account moneys expended in the purchase of a dwelling and land, and (b) erecting a county garage, 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 six 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 be 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 local authority shall, before raising the said loan 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 eight pounds twelve shillings and sixpence, such payments to be made in respect of every part of the said loan 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 loan or any part thereof so raised.
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 as either interest or sinking fund in respect of the said loan shall be paid out of loan money.
6. 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.
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. 49/349/10)