New Zealand Gazette – 1934 – No. 69

Page 2899

✨ Loan Conversion Details



SEPT. 13.] THE NEW ZEALAND GAZETTE. 2899

LOANS TO BE CONVERTED—continued.

Name. Amount. Rate of Interest. Date of Maturity.
Original. Existing.
Per Cent. Per Cent.
67. St. Albans Channelling Renewal Loan, 1929 £19,600 5¼ 4¼
68. Elmwood Park Renewal Loan, 1929 650 5¼ 4¼
69. Borough of Woolston Chichester Street Loan 300 5¼ 4¼
70. Electricity Distribution Loan No. 6 of £375,000 (part) 50,000 5¾ 4⅜
Ditto 50,000 5½ 4⅜
71. New Brighton Bridge Loan, 1930, of £4,777 (part) 1,877 5¼ 4¼
Ditto 2,900 5½ 4⅞
72. Workers’ Dwellings Loan, 1926 15,000 5½ 4⅞
73. Beckenham Loan 2,200 5¼ 4¼
74. Municipal Buildings Loan of £16,000 (part) 7,400 5¼ 4¼
Ditto 3,000 5⅝ 4⅞
75. North Linwood and Avonside Waterworks Completion Loan 1,700 5⅝ 4½
76. North Linwood Channelling Renewal Loan of £5,745 5,700 5⅞ 4½
77. Administrative Block Redemption Loan, 1931 43,600 5¼ 4¼
78. Sydenham Waterworks Loan No. 2 of £7,430 1,000 5½ 4⅞
79. Workers’ Dwellings Loan, 1927 25,000 5½ 4⅞
80. Workers’ Dwellings Loan, 1927 (No. 2) 25,000 5½ 4⅞
81. Papanui Channelling No. 2 Redemption Loan, 1930 9,000 5½ 4⅞
82. Phillipstown Playground Loan 1,500 5¾ 4⅞
83. Abattoir Loan, 1928 34,000 5¼ 4¼
Total 1,018,315

NOTES.—(a) Of the debentures issued in respect of the City Sanitation Empowering Act 1908 Loan of £5,000 referred to under No. 2 of this Schedule, those numbered 14 to 43 (both numbers being included) are not subject to conversion under this Order.

(b) Of the debentures issued in respect of the Christchurch Roading Loan, 1928, of £220,000 referred to under No. 4 of this Schedule, those numbered 1829 to 1998 (both numbers being included) are not subject to conversion under this Order.

(c) Of the debentures issued in respect of the Electricity Distribution Loan of £120,000 referred to under No. 35 of the Schedule, those bearing the following numbers are not subject to conversion under this Order, viz., Nos. 21–26 (inclusive), 201–1130 (inclusive), and 1151–1200 (inclusive).

(d) Of the debentures issued in respect of the Electricity Distribution Loan No. 5 referred to under No. 43 of this Schedule, those numbered 15, 16, and 480–489 (inclusive) are not subject to conversion under this Order.

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 in respect of the above-mentioned loans that the [Name of local authority] intends 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

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

💰 Finance & Revenue
10 September 1934
Loan Conversion, Local Authorities, Debentures, Interest Reduction, Christchurch City Council