✨ Local Authority Loan Consents
5 APRIL
THE NEW ZEALAND GAZETTE
473
Authorising 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 28th day of March 1956
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 authorised 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 at a rate of interest not exceeding four and three-quarters per cent per annum, for a term not exceeding 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 is borrowed by such hypothecation or mortgage the whole of the amount hereby authorised to be hypothecated or mortgaged had in each respective case been raised on the conditions 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 Authorised | Sum Hereby Authorised to be Hypothecated |
| Hutt Valley Drainage Board .. | Sewer Extension Loan 1954, £110,000 .. | 7 March 1956, £70,000 .. | £ 20,000 |
| Hutt Valley Drainage Board .. | Sewage Disposal Loan 1954, £850,000 .. | 18 January 1956, £300,000 .. | 20,000 |
| Lower Hutt City Council .. | Melling Bridge Loan 1954 .. | 8 September 1954, £80,000 .. | 10,000 |
| Lower Hutt City Council .. | Town Hall and Administrative Building Amalgamated Loan 1953, £280,000 | 27 October 1954, £80,000 .. | 28,800 |
| Lower Hutt City Council .. | Town Hall and Administrative Building Amalgamated Loan 1953, £280,000 | 7 March 1956, £76,000 .. | 66,000 |
T. J. SHERRARD, Clerk of the Executive Council.
(T. 49/809/3)
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 28th day of March 1956
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 |
|---|---|---|
| Ashburton Borough Council .. .. | Extra Sewerage Loan 1956 .. .. .. .. | £ 15,000 |
| Auckland Electric Power Board .. | General Extension and Improvement Loan (No. 1) 1956 .. | 400,000 |
| Cambridge Borough Council .. .. | Housing Loan 1955 .. .. .. .. | 6,000 |
| Cambridge Borough Council .. .. | Plant Loan 1955 .. .. .. .. | 3,600 |
| Geraldine Borough Council .. .. | Pensioners’ Cottages Loan No. 2 1956 .. .. | 8,500 |
| Hutt County Council .. .. .. | Stokes Valley Water and Sewerage Loan 1954, £218,000 .. | 70,000 |
| Hutt County Council .. .. .. | Wainuiomata Sewerage Treatment Works Loan 1954, £125,000 .. | 46,000 |
| Hutt County Council .. .. .. | Wainuiomata Sewerage Reticulation Loan 1954, £110,000 .. | 35,000 |
| Otago Catchment Board .. .. | Office Building Loan 1956 .. .. .. | 10,000 |
| Rangitikei County Council .. .. | Bridges and Culverts Replacement Loan 1955 .. .. | 50,000 |
| Waiuku Borough Council .. .. | Public Hall Loan 1956 .. .. .. | 7,000 |
| Wallace County Council .. .. | Rural Housing Loan No. 3 1955 .. .. | 20,000 |
| Wallace County Council .. .. | Housing Loan 1955 .. .. .. .. | 20,000 |
T. J. SHERRARD, Clerk of the Executive Council.
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VUW Te Waharoa —
NZ Gazette 1956, No 21
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NZ Gazette 1956, No 21
✨ LLM interpretation of page content
💰 Authorising Borrowing by Local Authorities via Hypothecation of Debentures
💰 Finance & Revenue28 March 1956
Local authorities, Hypothecation, Debentures, Loans, Interest rates, Repayment terms
- C. W. M. Norrie, Governor-General
- T. J. Sherrard, Clerk of the Executive Council
💰 Consenting to Raising of Loans by Certain Local Authorities
💰 Finance & Revenue28 March 1956
Local authorities, Loan consent, Sewerage, Housing, Power infrastructure, Bridge construction
- C. W. M. Norrie, Governor-General
- T. J. Sherrard, Clerk of the Executive Council