Loan consents and appointments




Whereas the several local authorities enumerated in the Schedule hereto, being desirous of raising the respective loans
stated opposite their names therein, have respectively 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 loans:

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 respective local authorities mentioned in the first column of the said Schedule of the respective
loans set out in the second column of the said Schedule, up to the respective amounts specified in the third column of the said
Schedule, and in giving such consent hereby determines as follows:

  1. The terms for which the said loans or any parts thereof may be raised shall not exceed the respective terms (in years)
    stated in the fourth column of the said Schedule.

  2. The rate of interest that may be paid in respect of the said loans or any parts 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 respective loans or any parts thereof, together with interest thereon, shall be repaid by equal aggregate annual
    or half-yearly instalments extending over the respective terms as determined in clause 1 hereof.

  4. The payment of all such instalments shall be made in New Zealand, and no such instalment shall be paid out of
    loan money.

  5. The rate payable for brokerage, underwriting, and procuration fees in respect of the raising of the said respective loans
    or any parts thereof shall not in the aggregate exceed one-half per cent of any amount raised.

  6. No money shall be borrowed under this consent after the expiration of two years from the date hereof.

SCHEDULE

First Column Second Schedule Third Column Fourth Column
Name of Local Authority Name of Loan Amount of Loan Term of Loan (Years)
Bruce Rabbit Board ... Housing Loan 1953 ... £2,500 20
Gisborne Harbour Board ... Harbour Improvement Loan 1953, £90,000 ... £20,000 10
Lyttelton Borough Council ... Street Sealing Loan 1954 ... £5,000 7
Te Awamutu Borough Council ... Waterworks Extension Loan 1954 ... £50,000 25
Waipa County Council ... Puniu Bridge Loan 1954 ... £15,000 20

T. J. SHERRARD, Clerk of the Executive Council.

Consenting to the Raising of a Loan of £76,000 by the Hutt County Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington this 20th day of October 1954

Present:
THE HON. T. CLIFTON WEBB PRESIDING IN COUNCIL

Whereas the Hutt County Council (hereinafter called the said local authority), being desirous of raising a loan of seventy-six thousand pounds, to be known as Plimmerton-Paremata Water Reticulation Loan 1954 (hereinafter called the said loan), for the purpose of providing a water supply to the Plimmerton, Dolly Varden, Pare mata, and Golden Gate areas of the County, 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 seventy-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 loan 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.

First Column Year Second Column Amount
1st . . . . . . . £800
2nd . . . . . . . £800
3rd . . . . . . . £800
4th . . . . . . . £900
5th . . . . . . . £1,000
6th . . . . . . . £900
7th . . . . . . . £1,100
8th . . . . . . . £1,000
9th . . . . . . . £1,100
10th . . . . . . . £67,600
  1. The payment of interest and redemptions in respect of the said loan shall be made in New Zealand.

  2. No amount payable either as interest or as a redemption in respect of the said loan shall be paid out of loan money.

  3. 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.

  4. 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.

(P. W. 62/25)

Appointing a Deputy Member of the National Roads Board

C. W. M. NORRIE, Governor-General

Pursuant to section 3 of the National Roads Act 1953, I, Lieutenant-General Sir Charles Willoughby Moke Norrie, the Governor-General of New Zealand, hereby appoint William Francis McArthur, Esquire, of Christchurch, Chemist, to be the deputy of Neill Aylmer Rattray, Esquire, M.B.E., a member of the National Roads Board.

As witness the hand of His Excellency the Governor-General this 20th day of October 1954.

J. R. MARSHALL, for the Minister of Works.

(T. 49/290/40)



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✨ LLM interpretation of page content

💰 Consent to raise multiple local authority loans

💰 Finance & Revenue
Local authority loan consent, Schedule, Repayment terms, Interest rate cap, Executive Council
  • C. W. M. NORRIE, Governor-General
  • T. J. SHERRARD, Clerk of the Executive Council.

💰 Consent for Hutt County water supply loan

💰 Finance & Revenue
20 October 1954
Hutt County water loan, £76,000, ten-year term, debenture repayment, Governor-General
  • C. W. M. NORRIE, Governor-General
  • T. J. SHERRARD, Clerk of the Executive Council.

🏗️ Appointment of Deputy to National Roads Board

🏗️ Infrastructure & Public Works
20 October 1954
Deputy appointment, National Roads Board, William McArthur, Neill Rattray, M.B.E., Governor-General
  • William Francis McArthur (Esquire), Appointed Deputy member to National Roads Board
  • Neill Aylmer Rattray (Esquire, M.B.E.), Appointed Deputy member to National Roads Board

  • C. W. M. NORRIE, Governor-General
  • J. R. MARSHALL, for the Minister of Works