28 Oct.] THE NEW ZEALAND GAZETTE 1689

Consenting to the Raising of Portion (£60,000) of the
Dunedin City Council’s Loan of £400,000 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 by Order in Council made on the 17th day
of October 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 Dunedin City Council (hereinafter called
the said local authority) of a loan of four hundred thousand
pounds, to be known as Electricity Loan 1951 (hereinafter
called the said loan):

And whereas an amount of one hundred and fifty-five
thousand pounds has not yet been raised:

And whereas the authority conferred by the said Order
in Council has lapsed in accordance with the provisions of
clause 7 thereof and it is not now lawful or competent for
the said local authority to raise the balance of the said loan
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
sixty 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 sixty thousand pounds
for the purpose for which the said loan was authorized, 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 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 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

4. The payment of interest and redemptions in respect
   of the said sum shall be made in New Zealand.

5. No amount payable as either interest or 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. 49/254/47)

Consenting to the Raising of Portion (£15,000) of the
Dunedin City Council’s Loan of £75,000 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 by Order in Council made on the 11th day
of July 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 Dunedin City Council (hereinafter called
the said local authority) of a loan of seventy-five thousand
pounds, to be known as Northern Outlet 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 twenty-five 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 loan 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
fifteen 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 fifteen thousand pounds
for the purpose for which the said loan was authorized, 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

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. 49/254/46)

Consenting to the Raising of Portion (£25,000) of the Rotorua
Fire Board’s Loan of £50,000 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 by Order in Council made on the 6th day of
August 1952 (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 Rotorua Fire Board (hereinafter called the said local
authority) of a loan of fifty thousand pounds, to be known
as Fire Station Loan 1952 (hereinafter called the said loan):

And whereas the authority conferred by the said Order in
Council has lapsed in accordance with the provisions of clause 6
thereof and it is not now lawful or competent for the said local
authority to raise the said loan 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 loan has not yet been raised and
it is expedient to authorize the said local authority to raise a
portion thereof amounting to twenty-five thousand pounds
(hereinafter called 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 twenty-five thousand pounds
for the purpose for which the said loan was authorized, and
in giving such consent hereby determines as follows: