21 Oct.] THE NEW ZEALAND GAZETTE 1661
Consenting to the Raising of Portion (£25,000) of the
Dunedin City Council's Loan of £300,000 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 Dunedin City Council (hereinafter called
the said local authority), being desirous of raising a loan
of three hundred thousand pounds, to be known as Public Works
Loan 1953 (hereinafter called the said loan), for the purpose
of completing the streets works resulting from the change-over
from electric tram to trolley-bus transport, including the
completion of the Stuart Street (Albert Street) Extension,
and carrying out new street works in various parts of the
city, has complied with the provisions of the Local Govern-
ment Loans Board Act 1926 (hereinafter called the said
Act):
And whereas by Order in Council made on the 9th day
of September 1953 consent was given to the raising in the
first instance, of portion of the said loan amounting to
twenty thousand pounds:
And whereas the said local authority is now desirous
of raising a further portion of the said loan amounting to
twenty-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
twenty-five thousand pounds, and in giving such consent
hereby determines as follows:

1. The term for which the said sum 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 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 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
   Column Column
   Year Amount Year Amount
   1st . . . . 600 6th . . . . 800
   2nd . . . . 700 7th . . . . 800
   3rd . . . . 700 8th . . . . 900
   4th . . . . 700 9th . . . . 900
   5th . . . . 700 10th . . . . 18,200
4. The payment of interest and redemptions in respect
   of the said sum shall be made in New Zealand.
5. No amount payable either as interest or as a redemption
   in respect of the said sum 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 sum 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. 49/254/51)
   Varying the Determinations in Respect of Portion (£25,000)
   of the Christchurch Drainage Board's Loan of £178,000
   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 by Order in Council made on the 12th day of
   May 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 Christchurch Drainage Board (hereinafter
   called the said local authority) of an amount of forty-three
   thousand pounds, being the balance then unraised of a loan
   of one hundred and seventy-two thousand pounds known as
   New Brighton Sewerage Loan 1947:
   And whereas portion of the said amount of forty-three
   thousand pounds amounting to twenty-five thousand pounds
   (hereinafter called the said sum) has not yet been raised:
   And whereas in the said Order in Council provision is
   made for the repayment of the said sum by the redemption of
   debentures in the fifteenth year and it is expedient to vary
   the provision for repayment as hereinafter provided:
   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 the provision for repayment
   of the said sum, as contained in clause 3 of the said Order in
   Council, by providing that the said sum or any part thereof
   shall be repaid by the redemption of debentures in the tenth
   year specified in the said Order in Council.
   T. J. SHERRARD, Clerk of the Executive Council.
   (T. 49/197/17)
   Authorizing the Borrowing by the Taihape Borough Council
   by Way of Hypothecation of Debentures Issued in Respect
   of a Loan of £7,500
   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 by Order in Council made on the 6th day
   of October 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 Taihape Borough Council
   (hereinafter called the said local authority) of a loan of
   seven thousand and five hundred pounds to be known as
   Housing Loan 1954 (hereinafter called the said loan):
   And whereas the said local authority, pending the raising
   of the said loan in accordance with the said determinations,
   is desirous of borrowing the said loan or part thereof by
   hypothecation or mortgage pursuant to section 34 of the
   Local Bodies' Loans Act 1926 of the debentures authorized
   to be issued in respect of the said loan:
   Now, therefore, pursuant to section 7 of the Local Authorities
   Interest Reduction and Loans Conversion Act 1932-33
   and section 8 of the Local Authorities Interest Reduction
   and Loans Conversion Amendment Act 1933, His Excellency
   the Governor-General, acting by and with the advice and
   consent of the Executive Council, hereby consents to the
   said local authority, pending the raising of the said loan in
   accordance with the said determinations, borrowing the said
   loan or any part thereof by the hypothecation or mortgage
   of the said debentures at a rate of interest not exceeding
   four per cent per annum for a term not exceeding one year,
   and hereby prescribes that the money borrowed by the hypo-
   thecation or mortgage of the said debentures shall, pending
   the raising of the said loan, be repaid by annual or half-
   yearly instalments equivalent to the instalments of principal
   which would have been repaid if on the first day on which
   any money is borrowed by such hypothecation or mortgage
   the whole of the said loan of seven thousand five hundred
   pounds had been raised on the terms prescribed by the said
   Order in Council.
   T. J. SHERRARD, Clerk of the Executive Council.
   (T. 49/536/11)
   Appointments, Transfers, and Extensions of Commissions of
   Officers of the Royal New Zealand Air Force
   PURSUANT to section 15 of the Royal New Zealand Air
   Force Act 1950, His Excellency the Governor-General
   has been pleased to approve the following appointments,
   transfers, and extensions of commissions of officers of the
   Royal New Zealand Air Force:
   REGULAR AIR FORCE
   GENERAL DUTIES BRANCH
   Appointments
   Cadet Pilot David John BYERS, B.Sc. (819427), is granted
   a permanent commission in the General Duties Branch, Regular
   Air Force, with the rank of Pilot Officer (on prob.) and
   seniority as from date of appointment. Dated 23 August

8. The undermentioned Cadet Pilots are granted temporary
   commissions for the duration of basic flying training with the
   rank of Acting Pilot Officer (on prob.):
   75746 Alexander William Edward JOHNSTON.
   75683 John Storie FLOOD.
   817773 Robin James BARRETT.
   690875 Ian Roy CADWALLADER.
   Dated 23 August 1954.