B—No. 5

Ko. 7. AWARD. We, Thomas Bannatyne GiUies, and Francis Dillon Bell, the Arbitraors duly appointed under the " Otago and Southland Public Debt Apportionment Act, 1861," to apportion between the, Provinces of Otago and Southland the principal of the Debts specified in the schedule to the said Act, having heard the Superintendents of the said Provinces on behalf of their respective Provinces; and having taken evidence in reference to the matter referred to us by the said Act; and having taken into consideration all the circumstances which have come or been laid before us, do hereby award and determine as follows:— 1. The principal sum of £81,000 (being part of the sum of £50O,O.)0 raised under the " NewZealand Loan Act, 1856,") charged upon the Provincial Revenue of the Province of Otago shall be apportioned and borne as follows, viz:— By the Province of Otago £63,000 By the Province of Southland £18,000 Total £81,000 —which apportionment shall take effect as in the said Act provided. 2. No part of the Debenture Debt specified as number 2 in the schedule to the said Act, shall be borne by the Province of Southland but the same shall be wholly borne by the Province of Otago. iven under our hands at Wellington the twenty eighth day of August one thousand eight hundred and sixty-two. Thomas B. Gillies, F. D. Bell.

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PUBLIC DEBT OF OTAGO AND SOUTHLAND.