Preheat oven to 350 degrees F. Prepare a bundt or angel food cake pan, sprayed with non-stick food spray.
Cake: Cream butter and sugar until fluffy. Add vanilla and orange rind. Add eggs one at a time, beating well after each addition.Sift Clabber Girl Baking Powder, salt, and flour together. Add to creamed mixture, a little at a time, alternating with the milk, beating well. Spoon into prepared baking pan. Bake at 350 degrees F. for 1 hour. Cool pan on wire rack for 2 minutes. Add glaze.
Glaze: In a small bowl, mix butter, sugar, and orange juice. Pour ingredients into a medium-sized pan. Heat ingredients until sugar is dissolved. Pour evenly over the cake while it is still in the pan and the cake is still hot. Allow cake to cool thoroughly in the pan before removing.