New Zealand Gazette – 1934 – No. 82

Page 3508

✨ Loan Conversion Details



3508
THE NEW ZEALAND GAZETTE.
[No. 82

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].

THIRD SCHEDULE.
COMPUTATION OF PREMIUMS.

  1. THE amount of the premium payable on the conversion of any existing securities
    shall be equal to the product obtained by multiplying the following factors, namely :—
    (a) The difference between one year’s interest on the amount of principal secured
    by the existing securities at the rate payable thereon immediately before
    the date of conversion and one year’s interest on the same amount at the rate
    payable on the new securities; and
    (b) The appropriate factor specified in the Table of Factors hereinafter set out,
    according to the period between the date of conversion and the maturity
    date of the existing securities.

  2. For the purpose of computing any such period as is mentioned in paragraph (b)
    of the last preceding clause, any fraction of a half-year that is not less than three
    months shall be counted as a half-year, and any such fraction that is less than three
    months shall not be taken into account.

Table of Factors.

Period from Date of Conversion to Maturity Date of Existing Securities. Factor. Period from Date of Conversion to Maturity Date of Existing Securities. Factor.
Years. Years.
½ 0·488998 19½ 12·891438
1 0·967235 20 13·096761
1½ 1·434948 20½ 13·297566
2 1·892370 21 13·493952
2½ 2·339726 21½ 13·686017
3 2·777238 22 13·873855
3½ 3·205123 22½ 14·057560
4 3·623592 23 14·237222
4½ 4·032853 23½ 14·412931
5 4·433108 24 14·584774
5½ 4·824556 24½ 14·752835
6 5·207389 25 14·917198
6½ 5·581799 25½ 15·077944
7 5·947970 26 15·235153
7½ 6·306083 26½ 15·388903
8 6·656316 27 15·539270
8½ 6·998842 27½ 15·686327
9 7·333831 28 15·830149
9½ 7·661448 28½ 15·970806
10 7·981856 29 16·108367
10½ 8·295214 29½ 16·242902
11 8·601676 30 16·374476
11½ 8·901395 30½ 16·503155
12 9·194518 31 16·629003
12½ 9·481191 31½ 16·752081
13 9·761556 32 16·872451
13½ 10·035752 32½ 16·990172
14 10·303914 33 17·105303
14½ 10·566175 33½ 17·217900
15 10·822665 34 17·328020
15½ 11·073511 34½ 17·435716
16 11·318837 35 17·541042
16½ 11·558765 35½ 17·644051
17 11·793413 36 17·744793
17½ 12·022898 36½ 17·843319
18 12·247333 37 17·939676
18½ 12·466829 37½ 18·033913
19 12·681496


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✨ LLM interpretation of page content

💰 Roxburgh Borough Loan Conversion Order, 1934 (continued) (continued from previous page)

💰 Finance & Revenue
Loan Conversion, Roxburgh Borough, Financial Regulations, Local Authorities, Securities, Debentures, Sinking Fund