JULY 13.] THE NEW ZEALAND GAZETTE. 2173

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.)

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

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) 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 instalments of principal and interest 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 instalments
of principal and interest 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.

F. D. THOMSON,
Clerk of the Executive Council.

(T. 49/304/4.)

Taumarunui Borough Loans Conversion Order, 1934 (No. 3).

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 9th day of July, 1934.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS it is provided by section nine of the Local Authorities Interest Reduction
and Loans Conversion Act, 1932–33, that, with the precedent consent of the
Governor-General, given by Order in Council under section thirteen of the said Act,
after compliance with the provisions of Part II of the Act, and subject to and in accordance
with the provisions of such Order in Council, any local authority may issue new securities
in conversion of any existing securities to which the said Act applies :

And whereas by the said section thirteen it is further provided that the Governor-General, by the Order in Council giving his consent to the conversion of existing securities
by a local authority, may make such provisions as he thinks fit with respect to all or any
of the matters specified in the said section, and that, subject to the provisions of the said
Act, every Order in Council under the said section shall have the force of law as if enacted
in the said Act, anything to the contrary in any other Act or in any regulations made
under the said Act or any other Act notwithstanding :

And whereas the Taumarunui Borough Council (being a local authority within the
meaning of the said Act) has issued securities in respect of the loans specified in the
First Schedule hereto, and such securities are existing securities to which the said Act
applies :