New Zealand Gazette – 1934 – No. 50

Page 2040

✨ Loans Conversion Details



2040
THE NEW ZEALAND GAZETTE.
[No. 50

FIRST SCHEDULE.
LOANS TO BE CONVERTED.

Name. Amount. Rates of Interest. Date of Maturity.
Original. Existing.
£ Per Cent. Per Cent.
Tauranga Borough Electric-light Loan of £11,500, 1913 11,500 5 4¼ 1st July, 1950.
Tauranga Borough Electric-light Supplementary Loan of £1,150, 1915 1,150 5 4¼ 1st February, 1952.
Tauranga Borough Streets Improvements Loan of £10,000, 1913 10,000 5 4¼ 1st July, 1950.
Tauranga Borough Streets Improvements Supplementary Loan of £1,000, 1915 1,000 5½ 4¼ 1st February, 1952.
Tauranga Borough Town Hall and Municipal Chambers Loan of £7,500, 1914 7,500 5 4¼ 13th July, 1951.
Tauranga Borough Town Hall and Municipal Chambers Supplementary Loan of £750, 1915 750 5 4¼ 13th July, 1952.
Tauranga Electric-light Loan of £4,600, 1916 4,600 5½ 4¼ 1st July, 1953.
Tauranga Borough Electric-lighting Loan of £30,000, 1920 30,000 5½ 4¼ 1st February, 1957.
Tauranga Borough Electric-lighting Supplementary Loan of £3,000, 1922 3,000 6 4⅜ 1st August, 1958.
Tauranga Borough Hydro-electric Works Supplementary Loan of £7,500, 1925 7,500 6 4⅜ 1st January, 1962.
Tauranga Borough Abattoirs Loan of £6,000, 1924 6,000 6 4⅜ 1st December, 1960.
Tauranga Borough Streets Loan of £2,000, 1925 2,000 6 4⅜ 1st January, 1962.
Tauranga Borough Streets Supplementary Loan of £200, 1926 200 6 4⅜ 1st July, 1962.
Tauranga Borough Footpaths Loan of £820, 1925 820 6 4⅜ 1st January, 1962.
Tauranga Borough Streets Loan Loan of £6,000, 1927 6,000 5¾ 4⅜ 1st March, 1964.
Tauranga Borough Streets Loan of £8,000, 1925 8,000 6 4⅜ 1st January, 1962.
Tauranga Borough Streets Loan of £2,000, 1928 2,000 5¾ 4⅜ 17th September, 1964.
Tauranga Borough Streets Loan of £670, 1929 670 6 4⅜ 1st October, 1965.
Tauranga Borough Unemployment Relief Loan of £2,000, 1927 2,000 5¾ 4⅜ 1st May, 1952.
Total .. .. £104,690

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.

[If the local authority reserves the right conferred by clause 16 (1) of the Order to repay any new security at a date prior to that specified therein, particulars of such right to be inserted.]

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

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

💰 Finance & Revenue
25 June 1934
Loans Conversion, Tauranga Borough Council, Local Authorities Interest Reduction, Order in Council