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Press, Volume LXXII, Issue 21941, 16 November 1936, Page 18

CHRISTCHURCH DRAINAGE BOARD CHRISTCHURCH DRAINAGE BOARD. SPECIAL. ORDER. XTOTICE IS HEREBY GIVEN that at a Special Meeting of the Christchurch Drainage Board called for that purpose and held at the Office of the Board in the City of Christchurch on the Twenty-seventh day of October 1936 the Board did resolve: THAT WHEREAS the Board was authorised under the provisions of Section 4, “Christchurch District Drainage Act 1924,” with the precedent consent of the Minister of Finance, but without taking the steps described in Section eight to twelve of the Local Bodies Loans Act 1923, to borrow a sum not exceeding One hundred thousand pounds and whereas by Order-in-Council made on the Seventeenth day of September One thousand nine hundred and twenty-eight, consent was given to the raising by the Christchurch Drainage Board (of the sum of Fifty-three thousand pounds £53,000) by a loan to be known as ‘St Martins and Radley Drainage and Sewerage Loan 1928.” of which, the amount of Thirteen thousand six hundred pounds l £ 13,600) has not been borrowed AND WHEREAS by section nine of the Local Authorities Interest Reduction and Loans Conversion Amendment Act 1934 the consent given by the said Order-m-Council was revoked in so far as the authority conferred thereby had not been exercised and it is not now lawful or competent for the Christchurch Drainage Board to borrow any moneys to which such consent relates except in accordance with the provisions of an Order-in-Council under Section eleven of the Local Government Loans Board Act 1926 AND WHEREAS by Order-in-Council published in the New Zealand Gazette No. 62 of the Seventeenth day of September 1936, Page 1747, the Christchurch Drainage Board is authorised to borrow the sum of SEVEN HUNDRED AND FIFTY POUNDS (£750) being a portion of the said sum of Thirteen thousand six hundred pounds (£13,600). NOW THEREFORE in pursuance of the powers vested in it by the said Order-in-Council the Christchurch Drainage Board hereby resolves by way of Special Order to borrow the said sum of Seven hundred and fifty pounds (£750) on the following conditions: — 1. THAT the term for which the said sum or any part thereof shall be borrowed shall be for a term of Ten vears. 2. THAT the rate of interest to be paid shall be such as shall not produce to the lender or lenders a rate exceeding Three pounds ten shillings (£3 10 0) per centum per annum. 3. THAT before raising the said sum, provision for repayments shall be made by the establishment of a Sinking Fund under the Local Bodies Loans Act 1926 and shall thereafter make payments to such fund at intervals of not less than one year at a rate or rates per | centum which shall not be less than j eight pounds ten shillings (£8 | 10 0». such payments to be made in I respect of every part of the said sum for the time being borrowed i and not repaid: the first such pay- ( ment to be made not later than one ; year after the first day from which ! interest to the lender or lenders is computed on the said sum or any part thereof so raised. 4. THAT payment of interest and repayment of principal in respect of the said sum shall be made in New Zealand. I 5. NO amount payable as either interest or Sinking fund in respect of the said sum shall be paid out of loan money. 6. THAT the rate payable for brokerage or underwriting and procuration fees in respect of the borrowing of the said sum or any part thereof shall not in the aggregate exceed one half per centum of any amount raised. J 7. NO money shall be borrowed under the authority of the aforementioned Order-in-Council after the expiration . of two years from tha date thereof. S. THAT the whole of the loan shall be repaid on the Thirty-first day of December lfl-6. 9. THAT the loan shall. be known as the “St. Martins and Radley Drainage and Sewerage Loan 1937.” AND NOTICE IS HEREBY GIVEN that a Special Meeting of the Board will be held at the Office of the Board, 198 Hereford street, in the City ol Christchurch on Wednesday, the Twenty-fifth day of November 1936, at 2.15 o’clock pan. for the purpose of confirming the said Resolution. BY ORDER OF THE BOARD. C. F. CHAMPION. SECRETARY. Dated at Christchurch this 30th da> of October 1936. I i I i CHRISTCHURCH DRAINAGE [ BOARD. SPECIAL ORDER. 'V’OTICE IS HEREBY GIVEN that at a Special Meeting of the Christchurch Drainage Board called for that purpose and held at the Office of the Board in the City of Christchurch on the Twenty-seventh day of October 1936. the Board did resolve;— THAT in pursuance of the powers vested in it by the Local Bodies Loans Act 1926 and of all other powers in that behalf enabling it thereunto, the Christchurch Drainage Board hereby resolves; — THAT for the purpose of providing the interest and other charges on a loan of Seven hundred and Fifty pounds (£750) authorised to be raised by the Christchurch Drainage Board under the above-mentioned Act for the purpose of providing a sewer in Riverslaw terrace in the City of Christchurch the said Christchurch Drainage Board hereby makes and levies a Special . Rate of .000008 of a pound in the ,£ upon the capital rate- | able value of all rateable property in j the Special Area described by resolution of the Board dated the Seventeenth day of April 1923 and published irt the New Zealand Gazette No. 37 of the Twenty-sixth day of April 1923 and as altered by resolutions of the! Board dated the Fifteenth day of February 1927, the Twenty-first day of June 1927, the Sixteenth day of April 1930, the Sixteenth day of February 1932, the Twenty-first day of March 1933j the Nineteenth day of November 1935, and the Twenty-sixth day of May 1936 and published in the New Zealand Gazettes Nos. 11, 54, 37, 14, 23, 89 and 40 of the Third Cay of March 1927, the Twenty-eighth cay of July 1927, the Twenty-second day of May 1930, the Twenty-fifth day of February 1932, the Sixth day of April 1933. the Fifth day of December 1935. and the Eighteenth day of June 1936 respectively, and that such rate shall be cn annually recurring rate during the currency of such loan and be payable yearly on the Thirty-first day of March in each and every year during the currency of such loan, being a period of ten years or until the loan is fully paid off. NOTICE IS HEREBY GIVEN that a Special Meeting of the Board will be held at the Office of the Board, 198 Hereford street, in the City of Christchurch on Wednesday, the Twentyfifth day of November 1936, at 2.15 o’clock p.m. for the purpose of confirming the said Resolution. BY ORDER OF THE BOARD, C. F. CHAMPION. SECRETARY. Dated at Christchurch this 30lh day of October, 1936.