MAURICEVILLE COUNTY COUNCIL.

Wairarapa Times-Age, 16 May 1941, Page 2

MAURICEVILLE COUNTY COUNCIL.

BROOivLS BRIDGE. NOTICE OF SPECIAL ORDER. XTOTICE IS HEREBY GIVEN that at ”■ a Special Meeting of the Mauriceville County Council, held on the 12th day of May, 1941. the following Resolution was passed and will be submitted for confirmation at the Ordinary Meeting of the Council, to be held on the 9th day of June. 1941, at 11 a.m.. at the County Office. Mauriceville:— Moved by Councillor A. Forsberg: 1. That for the purpose of reconstructing the bridge known as Brookes Bridge, being a bridge exceeding twenty feet in span, such reconstruction being necessary by reason of disrepair, the Mauriceville County Council proceed to raise, under provisions of Section 25 of “The Local Bodies Loans Act. 1926” (an Order-in-Council under Section 11 of the Local Government Loans Board Act, 1926. as set out in Section 29 of “The Finance Act, 1932,” No. 2. having been obtained authorising the Council to borrow), and in pursuance of all other acts and powers enabling it in that behalf, a loan of £2lOO to be secured upon the bridge rate which the County Council was duly authorised to levy by a poll of ratepayers of the County taken on the 31st day of January, 1925. under the provisions of Section 23 of "The Local Bodies Loans Act. 1913,” as amended by Section 21 of “The Appropriations Act, 1923.” 2. That the said loan be known as “The Bridge Loan. 1941,” of £210(1. 3. That the said County resolves to raise the said sum of £2lOO authorised to be raised by the said County by borrowing the said sum from the Government Life Insurance Department upon .he terms and conditions specified in the Order-in-Council relating thereto, made on the 2nd day of April. 1941, and to issue debentures in terms of the said Order in Council. 4. That the term of the said Loan shall be twenty (20) years from the 15th day of July. 1941. 5. That the rate of interest shall be Three pounds fifteen shillings (£3/15/-) per centum per - annum. 6. That the said sum of £2lOO be borrowed on the following terms: — (i) That the said sum of £2lOO, together with interest thereon as aforesaid, shall be repaid on a table basis over a period of twenty (20) years from the 15th day of July, 1941, by forty equal half-yearly instalments of £75/1/11 each, payable on the 15th day of July and the 15th day of January in each year, commencing with a payment on the 15th day of January, 1942, the last payment to be made on the 15th day of July, 1961. (ii) The said Council shall secure the repayment of the said sum and interest by the issue of forty (40) debentures payable to bearer for £75/1/11 each. Such debentures shall be sealed with the seal of the said County and signed by Ernest William Cheetham (Chairman) and Walter Victor Madden (County Clerk and Treasurer of the said County), who are hereby authorised to sign the same. (iii) The security for the payment of the said debentures shall be the annually recurring' special bridge rate of one-half of a penny (Id) in the pound on the rateable value (on the basis of the capital value) of the whole of the rateable property in the County of Mauriceville, made and levied by the Council by a Special Order duly passed on the 10th day of April, 1926, and confirmed on the Bth day of May, 1926, and published in the New Zealand Gazette on the 24th day of June, 1926, at page 1824, and that such special rate shall be for the year commencing on the Ist day of April, 1941, and ending on the 31st day of March. 1942, and shall be a continuing rate thereafter up to the 31st. day of March, 1962, .or until the said loan has been repaid. (iv) The Council doth hereby permanently apropriate and pledge of the said special rate the sum of £165 4s 3d as security for the payment of the said debentures to be issued in respect of the said loan of £2lOO. (v) That in pursuance and exercise of the authority contained in the Order in Council of the 2nd day of April, 1941, appearing in the New Zealand Gazette of the 17th day of April, 1941, at page 973, the said debenture shall be issued on the terms of issue determined by the said Order in Council. 7. That the costs of raising the said loan shall be paid but of the said loan. 8. That the said loan shall be charged and shall be payable out of the Mauriceville County Bridge Fund Account. 9. That copies of this resolution and all other orders, resolutions and documents relating to the said loan and certified by the Chairman and County Clerk as correct extracts from the minutes of the proceedings of the Council made from time to time, be sealed with the Common Seal of the Chairman. Councillors and Inhabitants of the County of Mauriceville as evidence of the same and issued. Seconded bv Councillor A. Gray, and CARRIED. Dated this 15th day of May, 1941. W. V. MADDEN. County Clerk.