New Zealand Gazette – 1934 – No. 10

Page 337

✨ Loan Conversion Details



FEB. 15.] THE NEW ZEALAND GAZETTE. 337

Name. Amount. Rate of Interest. Date of Maturity.
£ s. d. Original. Existing.
Per Cent. Per Cent.
Water-supply Extension Loan, 1930 .. 2,100 0 0 5½ 4¾
Emerson Street Widening Loan, 1929 .. 1,500 0 0 5½ 4¾
The Napier Borough Parks Loan of £2,500, 1913 2,400 0 0 5 4¼
The Napier Borough Drainage Completion Loan of £12,000, 1913 (part) 6,000 0 0 5 4¼
Napier Town-planning Improvements Loan, 1932 10,000 0 0 5½ 4¾
Napier Market Reserve Building Loan of £29,000, 1931 28,361 9 10* 5¾ 4¾
Workers’ Dwellings .. .. .. 7,827 5 0* 4½ 4¼
Napier Sewerage Pumps and Water-supply Loan, 1924 4,368 5 10* 4½ 4¼
Building Athenæum Reserve (Mortgage) .. 1,403 4 11* 6 4¾
The Napier Borough Parks Loan of £2,500, 1913 100 0 0 5 4¼
The Napier Borough Drainage Completion Loan of £12,000, 1913 (part) 6,000 0 0 5 4¼
The Napier Borough Council Drainage and Waterworks Loan of £36,500, 1916 27,500 0 0 5¼ 4¼
Napier Borough Council Purchase of Land Loan, £1,390, 1924 1,390 0 0 6 4¾
Napier Borough Hospital Loan of £1,200, 1913 1,200 0 0 5 4¼
Napier Borough Council Electric and Tramway Loan of £7,610, 1924 7,610 0 0 6 4¾
Napier Borough Council Hospital Contribution Loan of £423 423 0 0 5¼ 4¼
Napier Borough Council Hospital Contribution Loan of £1,025, 1915 1,025 0 0 5¼ 4¼
Napier Borough Council Westshore Bridge Loan of £7,300, 1918 7,300 0 0 5¼ 4¼
Napier Borough Council Hospital Contribution Loan of £1,640, 1920 1,640 0 0 5¼ 4¼
Napier Borough Council Antecedent Liability Redemption Loan, £32,390, 1932 31,948 2 4* 5¾ 4¾
Napier Borough Earthquake Damage Repair Loan, £20,000, 1932 20,000 0 0* 5¾ 4¾
Total .. .. .. £807,435 7 0
  • Less any amounts of principal redeemed up to the date of conversion.

SECOND SCHEDULE.

FORMS.

(1) Notice.

[Name of local authority.]

CONVERSION under the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the Loans Conversion Order, 19 , of debentures or other securities issued in respect of the following loans [Particulars of loans].

Notice is hereby given to the holders of debentures or other securities issued by the [Name of local authority] in respect of the above-mentioned loans that it is intended to convert all such debentures or other securities (except those in respect of which dissent is duly signified) into new debentures having new maturity dates and bearing interest at 4¼ per cent. per annum.

The conversion will take effect from [Date of conversion].

Application for conversion must be made in writing and be accompanied by the securities to which it relates.

Dissent from the conversion of any existing debentures or other securities may be signified by the holder by notice in writing delivered to [Name or designation and address of at least one person authorized to receive dissents] on or before the day of , 19 .

If notice of dissent from the conversion of any debentures or other securities is not received by that date the securities will be converted.

The rate of interest on any debentures or other securities in respect of which dissent is signified as aforesaid will, by virtue of section 18 of the above-mentioned Act, be reduced to two-thirds of the original rate as from the [Date of conversion].

Further particulars as to the new debentures and the conversion generally may be obtained from [Name or designation and address of at least one person authorized to give particulars.]

Dated the day of , 19 .

, Mayor.



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✨ LLM interpretation of page content

💰 Napier Borough Loans Conversion Order, 1934 (continued from previous page)

💰 Finance & Revenue
Loans, Conversion, Local Authority, Napier Borough Council, Order in Council, Debentures, Securities, Interest Rates, Sinking Fund, Special Rate