36
THE NEW ZEALAND GAZETTE.
[No. 1]

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
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 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
day of , 19 .

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

(3) Coupon.

No. .
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.