New Zealand Gazette – 1934 – No. 78

Page 3337

✨ Loans Conversion Order



Oct. 18.] THE NEW ZEALAND GAZETTE. 3337

accordance with this Order in the same way as they apply with respect to securities converted under that Act, save that the references in the said section twenty-two to the first day of April, one thousand nine hundred and thirty-three, shall be construed as references to the day following the date of conversion.

BROKERAGE.

  1. 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.
Akatarawa Bridge Loan .. £750* Per Cent. 4½ Per Cent. 4¼
Akatarawa Bridge Loan 10-per-cent. Additional Loan 75* 4½ 4¼
Wainui Bridge Loan .. 500* 4½ 4¼
Wainui Bridge Loan 10-per-cent. Additional Loan 50* 4½ 4¼
Day’s Bay Drainage Loan .. 490* 4½ 4¼
Pakuratahi and Stokes Valley Loan 970* 4½ 4¼
Pakuratahi and Stokes Valley Bridges Loan 355* 4½ 4¼
Workers’ Dwellings Loan (part) 1,000* 4½ 4¼
” 300* 4½ 4¼
” 700* 4½ 4¼
” 1,000* 4½ 4¼
Pukerua Roads Loan .. 1,000* 4½ 4¼
Main Highways Construction Loan 45,000* 6 4¾
Main Highways Construction Loan Supplementary Loan 3,525 5½ 4¾
Wainui Hill Road Unemployment Relief Loan 500 6 4¾
Hutt River Bridge Loan .. 1,000 6 4¾
£57,215
  • Less amount of principal repaid 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 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.

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 .

, Chairman.



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✨ LLM interpretation of page content

💰 Hutt County Loans Conversion Order, 1934 (No. 1) (continued from previous page)

💰 Finance & Revenue
15 October 1934
Loans Conversion, Local Authority, Hutt County, Order in Council, Local Authorities Interest Reduction and Loans Conversion Act 1932–33