New Zealand Gazette – 1934 – No. 10

Page 411

✨ Loan Conversion Order Details



FEB. 15.] THE NEW ZEALAND GAZETTE. 411

On presentation of this debenture at , in New Zealand, on or after
the day of , 19 , the bearer thereof will be entitled to receive £ .
[If the local authority reserves the right conferred by clause 16 (1) of the Order to repay at
an earlier date, particulars of such right to be inserted.] Interest on this debenture will
cease after the day when the payment falls due unless default is made in payment.

This debenture bears interest at the rate of per centum per annum, payable
on the day of and the day of in each year, on pre-
sentation of the attached coupons.

Issued under the common seal of the
the day of , 19 .

[L.S.] A.B., Mayor.
C.D., Treasurer [or other officer appointed for the purpose].

(3) Coupon.

No. .
New debenture No. of the [Name of local authority], New Zealand, issued
under Part II of the Local Authorities Interest Reduction and Loans Conversion Act,
1932–33, and the Loans Conversion Order, 19 .

On presentation of this coupon at , in New Zealand, on or after the
day of , 19 , the bearer hereof will be entitled to receive £ .

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

A.B., Mayor.
C.D., Treasurer [or other officer appointed to sign debentures].

(4) Resolution making Special Rate.

In pursuance and exercise of the powers vested in it in that behalf by Part II of the
Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the
Loans Conversion Order, 19 , the [Name of local authority] hereby resolves
as follows:—

That, for the purpose of providing the interest, sinking fund, and other charges on
the new securities authorized to be issued by the [Name of local authority] under the
above-mentioned Act and Order in conversion of existing securities issued in respect
of the loans set out in the First Schedule to that Order, and also the interest, sinking
fund, and other charges on the unconverted securities issued in respect of such loans,
the said [Name of local authority] hereby makes and levies a special rate of [State amount
in the pound] upon the rateable value on the basis of [State whether capital, unimproved,
or annual] value of all rateable property of the district, and that such special rate shall
be an annually recurring rate during the currency of such securities, and be payable
half-yearly on the day of and the day of [or yearly on
the day of ] in each and every year until the last maturity date of
such securities, being the day of , 19 , or until all such securities
are fully paid off.

THIRD SCHEDULE.
MATURITY DATES OF NEW SECURITIES.

Date. Aggregate Amount of Principal, to be increased or reduced proportionately in accordance with Clause 16 (2) of this Order if the Total Amount is greater or less than £810,086. Date. Aggregate Amount of Principal, to be increased or reduced proportionately in accordance with Clause 16 (2) of this Order if the Total Amount is greater or less than £810,086.
£ £
1st May, 1935 18,500 1st November, 1946 19,200
1st November, 1935 10,000 1st May, 1947 19,200
1st May, 1936 10,500 1st November, 1947 20,000
1st November, 1936 11,000 1st May, 1948 20,000
1st May, 1937 11,000 1st November, 1948 20,800
1st November, 1937 12,000 1st May, 1949 20,900
1st May, 1938 12,000 1st November, 1949 21,700
1st November, 1938 13,000 1st May, 1950 21,800
1st May, 1939 13,000 1st November, 1950 22,700
1st November, 1939 14,400 1st May, 1951 22,700
1st May, 1940 14,500 1st November, 1951 23,700
1st November, 1940 15,000 1st May, 1952 23,700
1st May, 1941 15,100 1st November, 1952 24,700
1st November, 1941 15,500 1st May, 1953 24,700
1st May, 1942 15,800 1st November, 1953 25,700
1st November, 1942 16,300 1st May, 1954 25,800
1st May, 1943 16,300 1st November, 1954 22,000
1st November, 1943 17,000 1st May, 1955 21,700
1st May, 1944 17,000 1st November, 1955 18,000
1st November, 1944 17,700 1st May, 1956 17,000
1st May, 1945 17,700 1st November, 1956 17,000
1st November, 1945 18,400 1st May, 1957 16,886
1st May, 1946 18,500
Total .. .. £810,086


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✨ LLM interpretation of page content

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

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