New Zealand Gazette – 1934 – No. 80

Page 3425

✨ Loan Conversion Details

Nov. 1.] THE NEW ZEALAND GAZETTE. 3425

FIRST SCHEDULE.
LOANS TO BE CONVERTED.

Name.	Amount.	Rate of Interest.	Date of Maturity.
Mangere Bridge Loan ...	£3,375 s. d. 0 0*	Per Cent. 4½ Original.	Per Cent. 4¼ Existing.
Water Filters Loan ...	5,000 0 0*	4½	4¼
Water Filters Supplementary Loan	500 0 0*	4½	4¼
Waterworks Pumping Station Extension Loan	3,500 0 0*	4½	4¼
Drainage Deviation Loan (part)	1,000 0 0*	4½	4¼
,,	3,000 0 0*	4½	4¼
,,	300 0 0*	4½	4¼
Waterworks Extension and Enlargement Loan of £16,400	16,400 0 0	4½	4¼
Water Extension Completion Loan	550 0 0	4½	4¼
Water-supply Redemption Loan	4,600 0 0	4½	4¼
Concrete Road Formation Loan (part)	10,000 0 0	5¼	4¼
Ditto ...	25,000 0 0	6	4²⁄₅
Concrete Road Formation Supplementary Redemption Loan	3,500 0 0	5¼	4¹⁄₄
Road Formation Loan ...	30,000 0 0*	6	4²⁄₅
,,	45,000 0 0	5³⁄₄	4²⁄₅
Road Formation Supplementary Loan	7,500 0 0	6	4⁴⁄₅
Four-inch Watermains Loan	9,000 0 0	5³⁄₄	4³⁄₅
Drainage Advances Loan (part)	800 0 0	6	4⁴⁄₅
,,	500 0 0	6	4⁴⁄₅
Destructor Loan	2,500 0 0	5³⁄₄	4³⁄₅
New Area Watermains, &c., Loan	827 3 4	5½	4²⁄₅
Unemployment Loan, 1931	3,000 0 0	5½	4²⁄₅

Total ... £175,852 3 4

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 .

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.)

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VUW Te Waharoa — NZ Gazette 1934, No 80

NZLII — NZ Gazette 1934, No 80

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

💰 Onehunga Borough Loans Conversion Order, 1934 (No. 4) (continued from previous page)

Domain💰 Finance & Revenue
Dated29 October 1934
KeywordsLoan Conversion, Local Authority, Onehunga Borough Council, Order in Council, Debentures, Securities, Premium Calculation, Interest Rates

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