New Zealand Gazette – 1935 – No. 47

Page 1797

✨ Loan Conversion Order



JUNE 27.]

THE NEW ZEALAND GAZETTE.

1797

BROKERAGE.

  1. 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.

Name. Amount. Rate of Interest. Date of Maturity.
Original. Existing.
Group A.
Maungakahui Loan ... £1,000* 4½ Per Cent. 14th February, 1962.
"" 1,000* 4½ 14th February, 1964.
Kururau Loan 1,000* 4½ 14th February, 1959.
"" 500* 4½ 14th February, 1960.
"" 900* 4½ 14th August, 1960.
"" 1,000* 4½ 14th August, 1961.
Te Maire Bluff Loan 500* 4½ 14th August, 1959.
"" 250* 4½ 14th February, 1962.
Herlihy Bluff Loan ... 300* 4½ 14th August, 1959.
Otuiti Loan 750* 4½ 14th August, 1957.
Te Maire Valley Loan 600* 4½ 14th August, 1950.
Kokakariki Loan 500* 4½ 14th August, 1954.
Maungaoohutu Loan 1,500* 4½ 14th February, 1951.
Group B.
Te Maire Bridge Loan 4,000 6 1st July, 1962.
Total £13,800

*Less repayments of principal 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 loan [Particulars of loan].

Notice is hereby given to the holders of debentures or other securities issued in
respect of the above-mentioned loan 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 4½
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.

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 £____.

Issued under the common seal of the
the day of , 19___.

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



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✨ LLM interpretation of page content

💰 Taumarunui County Loans Conversion Order, 1935 (continued from previous page)

💰 Finance & Revenue
22 June 1935
Loan Conversion, Local Authority, Taumarunui County Council, Debentures, Securities, Premiums, Sinking Funds