New Zealand Gazette – 1934 – No. 83

Page 3585

✨ Loan Conversion Details



Nov. 15.] THE NEW ZEALAND GAZETTE. 3585

FIRST SCHEDULE.
LOANS TO BE CONVERTED.

Name. Amount. Rate of Interest. Date of Maturity.
Original. Existing.
£ Per Cent. Per Cent.
(1) Loan of £700,000 (part) .. 198,400 5½ 4¾
(2) ,, .. 190,800 5¾ 4¾
(3) ,, .. 76,800 5¾ 4¾
(4) Loan of £70,000 .. 70,000 5½ 4¾
(5) Drainage and Sewerage Loan, 1928, of £242,500 (part) 138,200 5½ 4¾
(6) Ditto .. .. .. 63,600 5¼ 4¼
(7) ,, .. .. .. 40,700 5¾ 4¾
(8) Drainage and Sewerage Loan, 1928, of £53,000 (part) 14,900 5½ 4¾
(9) Ditto .. .. .. 24,500 5¾ 4¾
Total .. .. £817,900

N.B.—Of the debentures issued in respect of the loans referred to in the above Schedule, this Order applies only to those to which the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, applies. So far as the local authority is aware that Act and this Order apply to the following debentures, namely:—

Loan No. 1:—
Serial No. A 1 to A 1129 (both numbers inclusive).
,, B 1 ,, B 95 ,,
,, C 1 ,, C 38 ,,

Loan No. 2:—
Serial No. A 1130 to A 2340 (both numbers inclusive).
,, A 2342 ,, A 2368 ,,
,, B 96 ,, B 185 ,,
,, C 39 ,, C 60 ,,

Loan No. 3:—
Serial No. A 2341.
,, A 2369 to A 2750 (both numbers inclusive).
,, B 186 ,, B 222 ,,
,, C 61 ,, C 64 ,,
,, D 83 ,, D 91 ,,
,, D 94 ,, D 100 ,,

Loan No. 4:—
Serial No. F 1 to F 495 (both numbers inclusive).
,, G 1 ,, G 37 ,,
,, H 1 ,, H 2 ,,

Loan No. 5:—
Serial No. J 1 to J 20 (both numbers inclusive).
,, K 1 ,, K 996 ,,
,, U 1 ,, U 36 ,,
,, V 1 ,, V 34 ,,

Loan No. 6:—
Serial No. L 1 to L 636 (both numbers inclusive).

Loan No. 7:—
Serial No. S 1 to S 407 (both numbers inclusive).

Loan No. 8:—
Serial No. P 1 to P 121 (both numbers inclusive).
,, P 123 ,, P 150 ,,

Loan No. 9:—
Serial No. Q 1 to Q 145 (both numbers inclusive).
,, R 1 ,, R 10 ,,

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].



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✨ LLM interpretation of page content

💰 Christchurch Drainage Board Loans Conversion Order, 1934 (No. 2) (continued from previous page)

💰 Finance & Revenue
13 November 1934
Loan Conversion, Securities, Debentures, Local Authorities, Christchurch Drainage Board