✨ Local Authority Loans
1036
THE NEW ZEALAND GAZETTE
No. 4
Authorizing the Borrowing by Certain Local Authorities by Way of Hypothecation of Debentures
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 22nd day of June 1955
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans or parts thereof stated in the second column of the said Schedule:
And whereas the said local authorities, pending the raising of the said respective loans or parts thereof, are desirous of borrowing the respective sums stated in the fourth column of the said Schedule 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 respective loans or parts thereof;
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 authorities, pending the raising of the said respective loans or parts thereof, borrowing the said respective sums or parts thereof by the hypothecation or mortgage of the said debentures to the State Advances Corporation of New Zealand at a rate of interest not exceeding 4 per centum, such interest to be computed on the daily-debtor balances in the accounts of the Corporation, repayable on demand but so that the term shall not exceed one year, and hereby prescribes that the money borrowed by the hypothecation or mortgage of the said debentures shall, pending the raising of the said respective loans or parts thereof, 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 borrowed by such hypothecation or mortgage the whole of the amount hereby authorized to be hypothecated or mortgaged had in each respective case been raised on the conditions already determined under the Local Government Loans Board Act 1926.
SCHEDULE
| First Column | Second Column | Third Column | Fourth Column |
|---|---|---|---|
| Name of Local Authority | Name of Loan | Date of Consenting Order in Council and Amount Thereby Authorized | Sum Hereby Authorized to be Hypothecated |
| Lower Hutt Fire Board | Central Fire Station Loan (No. 2) 1955 | 15 June 1955, £55,000 | 9,500 |
| Hutt County Council | Petone Overbridge Loan 1954 | 20 October 1954, £6,000 | 5,520 |
| Hutt County Council | Wainui-o-mata Sewerage Treatment Works Loan 1954, £125,000 | 26 April 1955, £9,000 | 3,120 |
| Hutt County Council | Plimmerton-Paremata Water Reticulation Loan 1954 | 20 October 1954, £76,000 | 11,380 |
| Hutt County Council | Pinehaven Water Supply Loan 1953 | 20 October 1954, £43,000 | 19,400 |
| Hutt Valley Drainage Board | Sewer Extension Loan 1954, £110,000 | 11 August 1954, £40,000 | 11,420 |
| Lower Hutt City Council | Melling Bridge Loan 1954 | 8 September 1954, £80,000 | 17,000 |
| Lower Hutt City Council | Town Hall and Administrative Building Amalgamated Loan 1953, £280,000 | 27 October 1954, £80,000 | 31,000 |
| Auckland Electric Power Board | General Extension and Improvement Loan 1955, £800,000 | 11 January 1955, £400,000, and 18 April 1955, £400,000 | 450,000 |
T. J. SHERRARD, Clerk of the Executive Council
( T. 40/260/1)
Consenting to Raising of Loans by Certain Local Authorities
C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 22nd day of June 1955
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL
PURSUANT to the Local Government Loans Board Act 1926, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby consents to the borrowing by the local authorities mentioned in the Schedule hereto by way of loan of the whole or any part of the respective amounts specified in that Schedule.
SCHEDULE
| Name of Local Authority | Name of Loan | Amount of Loan |
|---|---|---|
| Devonport Borough Council | Street Works Loan 1954, £200,000 | 50,000 |
| Christchurch City Council | Water Supply Extension Loan 1954, £200,000 | 100,000 |
| Nelson Fire Board | Loan No. 8 1955 | 4,300 |
| Raetihi Borough Council | Waterworks Renewal Loan 1955 | 9,500 |
| Rotorua County Council | Workers' Dwellings Loan 1954, £30,000 | 8,000 |
| Tauranga County Council | Greerton Riding Development Loan 1954, £35,000 | 20,000 |
| Tauranga County Council | Katikati Town Riding Development Loan 1954, £18,000 | 10,000 |
T. J. SHERRARD, Clerk of the Executive Council
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VUW Te Waharoa —
NZ Gazette 1955, No 42
NZLII —
NZ Gazette 1955, No 42
✨ LLM interpretation of page content
🏘️ Authorizing Local Authorities to Borrow by Hypothecation of Debentures
🏘️ Provincial & Local Government22 June 1955
Local authorities, Borrowing, Hypothecation, Debentures, State Advances Corporation, Loans
- C. W. M. Norrie, Governor-General
- T. J. Sherrard, Clerk of the Executive Council
🏘️ Consenting to Raising of Loans by Certain Local Authorities
🏘️ Provincial & Local Government22 June 1955
Local authorities, Borrowing, Loans, Consent, Local Government Loans Board
- C. W. M. Norrie, Governor-General
- T. J. Sherrard, Clerk of the Executive Council