New Zealand Gazette – 1934 – No. 34

Page 1418

✨ Loans Conversion Order

1418
THE NEW ZEALAND GAZETTE.
[No. 34

BROKERAGE.

The local authority shall not, in respect of the conversion into new securities of any existing securities to which this Order applies, enter into any contract for the payment of brokerage at a rate exceeding one-quarter per centum of the amount of such existing securities.

FIRST SCHEDULE.
LOANS TO BE CONVERTED.

Name.	Amount.	Rate of Interest.		Date of Maturity.
		Original.	Existing.
	£	Per Cent.	Per Cent.
1. Renewal Loan, 1928 ..	3,500	5¾	4¾	30th March, 1948.
2. Water-supply and Electric Light Supplementary Loan, 1913	4,000	5	4¼	1st April, 1950.
3. Streets Supplementary Loan, 1913	500	5	4¼	1st April, 1950.
4. Hospital Loan, 1913 ..	1,130	5	4¼	1st April, 1950.
5. Streets and Electric Loan, 1914 (part of £68,250)	11,925	5¼	4¼	1st October, 1951.
6. Hastings Borough Council Loan, 1920 (part of £68,250)	5,000	5¼	4¼	1st October, 1956.
7. Municipal Buildings Loan, 1914	28,300	5	4¼	30th April, 1940.
8. Electric Lighting Loan, 1916	8,800	5¼	4¼	1st May, 1953.
9. Sewerage and Water Loan, 1916	13,600	5¼	4¼	1st May, 1953.
10. Sewerage and Water Supplementary Loan, 1921	1,360	5½	4¾	1st September, 1957.
11. Antecedent Liability Loan, 1922	28,082	6	4⅞	1st November, 1942.
12. Electric Installation Extension Loan, 1923 (part of £32,000)	4,000	5¾	4⅞	1st October, 1948.
13. Electric Installation Extension Loan, 1924 (part of £32,000)	20,000	6	4⅞	1st April, 1949.
14. Roading Loan, 1924 ..	49,000	6	4⅞	1st March, 1961.
15. Supper-room Loan, 1924	1,800	6	4⅞	1st February, 1961.
16. Electrical Appliances Loan, 1926	13,350	5⅝	4½	1st November, 1947.
17. Sewerage and Waterworks Loan, 1926	3,350	5⅝	4½	1st March, 1950.
18. Streets and Footpaths Loan, 1926	35,600	5⅝	4½	1st March, 1950.
19. Piping Open Drains Loan, 1926	6,600	5⅝	4½	1st March, 1950.
20. Waterworks Extension Loan, 1927 (part of £10,100)	1,100	5¼	4¼	9th August, 1965.
21. Waterworks Extension Loan, 1929 (part of £10,100)	9,000*	5½	4¾	20th October, 1962.
22. Drainage Loan .. ..	20,000	4½	4¼	1st August, 1937.
Total .. ..	£269,997

Less amount of principal redeemed up to 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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VUW Te Waharoa — NZ Gazette 1934, No 34

NZLII — NZ Gazette 1934, No 34

The Old Government Buildings (depicted) were completed in 1876 and initially housed the entire Wellington-based civil service as well as the entire New Zealand Cabinet. The Executive Council met there until 1948.

✨ LLM interpretation of page content

💰 Hastings Borough Loans Conversion Order, 1934 (No. 2) (continued from previous page)

Domain💰 Finance & Revenue
Dated3 May 1934
KeywordsOrder in Council, Loans Conversion, Local Authorities, Hastings Borough Council, Debentures, Securities, Premiums, Sinking Funds

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