New Zealand Gazette – 1934 – No. 10

Page 410

✨ Loan Conversion Details



410
THE NEW ZEALAND GAZETTE.
[No. 10

FIRST SCHEDULE—continued.
LOANS TO BE CONVERTED—continued.

Name. Amount. Rate of Interest. Date of Maturity.
Original. Existing.
£ Per Cent. Per Cent.
Streets Supplementary Loan .. 5,800 5½ 4½
Town Hall Building Loan .. 5,000 5½ 4½
Town Hall Building Supplementary Loan 500 5½ 4½
Tramways No. 1 Redemption Loan 42,500 5½ 4½
Tramways and Electricity No. 2 Redemption Loan 400 5½ 4½
Tramways No. 5 Redemption Loan 12,100 5½ 4⅞
5,000 5½ 4⅞
Sewerage Redemption Loan .. 18,600 5⅞ 4⅞
Sewerage Redemption No. 4 Loan 8,350 5½ 4⅞
Sewerage Redemption No. 3 Loan 1,100 5 4½
6,890 5½ 4⅞
Water-pumping Redemption Loan 8,800 5½ 4⅞
Portion South Invercargill Borough Loan 2,900 5½ 4⅞
Waterworks and Endowments Redemption Loan 10,300 5½ 4⅞
Endowments Loan .. 500 5½ 4⅞
Sewerage No. 1 Redemption Loan 24,000 5 4½
North Invercargill Redemption Nos. 1–3 Loan 700 5 4½
5,750 5½ 4½
2,000 5½ 4⅞
Total .. .. £810,086

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 4½ 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.

(2) New Debenture.

No. .
[Name of local authority], New Zealand.

New debenture, issued pursuant to Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the Loans Conversion Order, 19 .

New debenture for £ , payable at , in New Zealand, on the day of , 19 , issued by the [Name of local authority], New Zealand, under the above-mentioned Act and Order pursuant to a resolution passed and confirmed by the said Council [or Board, or as the case may be] as provided by section 9 (2) of the said Act.

(N.B.—The holder of this debenture has no claim in respect thereof upon the Government or public revenues of New Zealand.)



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✨ LLM interpretation of page content

💰 Invercargill City Loans Conversion Order, 1934 (continued from previous page)

💰 Finance & Revenue
12 February 1934
Loan Conversion, Local Authority, Invercargill City Council, Order in Council, Debentures, Securities, Interest Reduction, Sinking Fund, Premium Calculation, Table of Factors