1086
THE NEW ZEALAND GAZETTE.
[No. 27

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.

No. __

(2) New Debenture.

[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 £__.

Interest on this debenture will cease after the day when the payment falls due unless default is made in payment.

This debenture bears interest at the rate of __ per centum per annum, payable on the __ day of __ and the __ day of __ in each year, on presentation of the attached coupons.

Issued under the common seal of the
__ the __ day of __, 19____.

[L.S.]
A.B., Chairman.
C.D., Treasurer [or other officer appointed for the purpose].

No. __

(3) Coupon.

New debenture No. __ of the [Name of local authority], New Zealand, issued under Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the __ Loans Conversion Order, 19____.

On presentation of this coupon at __, in New Zealand, on or after the day of __, 19, the bearer hereof will be entitled to receive £__.

(N.B.—The holder of this coupon has no claim in respect thereof upon the Government or public revenues of New Zealand.)

A.B., Chairman.
C.D., Treasurer [or other officer appointed to sign debentures].

(4) Resolution making Special Rate.

In pursuance and exercise of the powers vested in it in that behalf by Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the __ Loans Conversion Order, 19____, the [Name of local authority] hereby resolves as follows:

That, for the purpose of providing the interest, sinking fund, and other charges on the new securities authorized to be issued by the [Name of local authority] under the above-mentioned Act and Order in conversion of existing securities issued in respect of the loans set out in the First Schedule to that Order, and also the interest, sinking fund, and other charges [or, as the case may be, instalment of principal and interest] in respect of the unconverted securities issued in respect of such loans, the said [Name of local authority] hereby makes and levies a special rate of [State amount in the pound] upon the rateable value on the basis of [State whether capital, unimproved, or annual] value of all rateable property of the district, and that such special rate shall be an annually recurring rate during the currency of such securities, and be payable half-yearly on the __ day of __ and the __ day of __ [or yearly on the __ day of __] in each and every year until the last maturity date of such securities, being the __ day of __, 19____, or until all such securities are fully paid off.

THIRD SCHEDULE.
MATURITY DATES OF NEW SECURITIES.