1800

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 thirteen
thousand seven hundred and fifty 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

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 three-
   quarters 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. 49/89/18)

Consenting to the Raising of Portion (£25,000) 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 27th 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 seventy-five thousand pounds, to be known as Works
Loan 1954 (hereinafter called the said loan), for the purpose
of providing kerbing and channelling and other street improve-
ment works, has complied with the provisions of the Local
Government Loans Board Act 1926 (hereinafter called the
said Act):

And whereas the said local authority is desirous of
raising, in the first instance, 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

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. 49/371/13)

Consenting to the Raising of Portion (£2,000) of the Otago
Electric Power 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 27th day of
October 1954
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Otago Electric Power Board (hereinafter
called the said local authority), being desirous of
raising a loan of fifty thousand pounds, to be known as
General Extension and Reticulation Loan 1954 (hereinafter
called the said loan), for the purpose of further reticulating
the Otago Electric Power District, 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 18th day
of August 1954 consent was given to the raising, in the first
instance, 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
two 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
two 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 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 or any part thereof shall be repaid
   by equal half-yearly instalments of principal extending over
   the term as determined in clause 1 hereof.

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

5. No amount payable either as interest or as principal
   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. 49/254/54)