18 Nov.] THE NEW ZEALAND GAZETTE
Consenting to the Raising of Portion (£80,000) of the Lower Hutt City Council's Loan of £280,000 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:
WHEREAS by Orders in Council made on the 17th day of February 1953 and the 3rd day of August 1953, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Lower Hutt City Council (hereinafter called the said local authority) of amounts of one hundred and fourteen thousand pounds and ten thousand pounds respectively, being portions of a loan of two hundred and eighty thousand pounds known as Town Hall and Administrative Building Amalgamated Loan 1953 (hereinafter called the said loan): And whereas the said local authority is now desirous of raising a further portion of the said loan amounting to eighty 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 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 consents to the raising in New Zealand by the said local authority of the said sum up to the amount of eighty 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 Year Amount Second Column £ £ 1st . . . . 1,400 6th . . . . 1,700 2nd . . . . 1,500 7th . . . . 1,800 3rd . . . . 1,500 8th . . . . 1,900 4th . . . . 1,600 9th . . . . 1,900 5th . . . . 1,700 10th . . . . 65,000 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 procurement 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. 49/11/34)
Consenting to the Raising of the Balance (£13,000) of the Lower Hutt City Council's Loan of £48,000 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:
WHEREAS the Lower Hutt City Council (hereinafter called the said local authority) being desirous of raising a loan of forty-eight thousand pounds, to be known as Community Centre (Baths No. 2) Loan 1952 (hereinafter called the said loan), for the purpose of meeting part of the cost of providing a swimming pool at Naenae as part of the Community Centre Scheme, 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 14th day of October 1953 consent was given to the raising, in the first instance, of portion of the said loan amounting to thirty-five thousand pounds:
And whereas the said local authority is now desirous of raising the balance of the said loan amounting to thirteen 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 thirteen 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 Year Second Column Amount First Column Year Second Column Amount £ £ 1st . . . . 200 6th . . . . 300 2nd . . . . 200 7th . . . . 300 3rd . . . . 300 8th . . . . 300 4th . . . . 200 9th . . . . 300 5th . . . . 300 10th . . . . 10,600 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 procurement 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. 49/11/40)
Consenting to the Raising of the Balance (£70,000) of the Hutt Valley Electric Power Board's Loan of £200,000 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:
WHEREAS the Hutt Valley Electric Power Board (hereinafter called the said local authority), being desirous of raising a loan of two hundred thousand pounds, to be known as Loan No. 11 1951 (hereinafter called the said loan), for the purpose of further reticulating the Hutt Valley Electric Power District, has complied with the provisions of the Local Government Loans Board Act 1926 (hereinafter called the said Act): And whereas consent has been given to the raising of portions of the said loan amounting in the aggregate to one hundred and thirty thousand pounds: