✨ Loan Conversion Order Details
4310
THE NEW ZEALAND GAZETTE.
[No. 94
BROKERAGE.
- 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.
| No. | Name. | Amount. | Rate of Interest. | Date of Maturity. |
|---|---|---|---|---|
| Original. | Existing. | |||
| £ | Per Cent. | Per Cent. | ||
| 1 | Hydro Electric Loan, 1923 .. | 50,000 | 5½ | 4¾ |
| 2 | ,, 1924 .. | 25,000 | 6 | 4¾ |
| 3 | ,, 1924 .. | 10,000 | 6 | 4¾ |
| 4 | Pahiatua Borough Electric Light and Power Building Loan, 1920 | 6,000 | 5¼ | 4¼ |
| 5 | Eketahuna Borough Electric Light Installation Loan (No. 2), 1909 | 2,300 | 5 | 4¼ |
| 6 | Eketahuna Borough Electric Light and Supply Loan (No. 3), 1910 | 530 | 5 | 4¼ |
| 7 | Eketahuna Borough Electric Light and Supply Loan (No. 4), 1910 | 1,400 | 4½ | 4¼ |
| 8 | Hydro Electric Loan, 1925 .. | 15,000 | 6 | 4¾ |
| 9 | ,, 1925 .. | 5,000 | 6 | 4¾ |
| 10 | ,, 1926 .. | 5,000 | 6 | 4¾ |
| 11 | ,, 1927 .. | 5,000 | 6 | 4¾ |
| 12 | ,, 1928 .. | 5,000 | 5½ | 4¾ |
| 13 | ,, 1929 .. | 5,000 | 5½ | 4¾ |
| 14 | ,, 1930(part) | 3,200 | 5¾ | 4¾ |
| 15 | ,, 1930(part) | 1,800 | 5¾ | 4¾ |
| 16 | ,, 1929 .. | 8,000* | 5½ | 4¾ |
| 17 | ,, 1932 .. | 1,090* | 5½ | 4¾ |
| £149,320 |
- 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.
(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
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VUW Te Waharoa —
NZ Gazette 1934, No 94
NZLII —
NZ Gazette 1934, No 94
✨ LLM interpretation of page content
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Tararua Electric-power Board Loans Conversion Order, 1934
(continued from previous page)
💰 Finance & Revenue14 December 1934
Loan conversion, Local authority, Tararua Electric-power Board, Order in Council, Securities, Debentures, Interest rates, Maturity dates