1716
THE NEW ZEALAND GAZETTE.
[No. 60

SECURITIES HELD BY TRUSTEES.

16. The provisions of sections twenty-two, twenty-three, and twenty-four of the New Zealand Debt Conversion Act, 1932–33 (relating to the adjustment of premiums as between capital and income and to the powers of trustees and other persons in relation thereto), shall apply with respect to existing securities converted into new securities in accordance with this Order in the same way as they apply with respect to securities converted under that Act, save that the references in the said section twenty-two to the first day of April, one thousand nine hundred and thirty-three, shall be construed as references to the day following the date of conversion.

COSTS OF CONVERSION.

17. (1) All costs, charges, and expenses incidental to the conversion shall be borne by the local authority, and paid out of the local fund.
    (2) 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.

FIRST SCHEDULE.
LOAN TO BE CONVERTED.

SECOND SCHEDULE.
FORMS.

(1) Notice.

MATAKAOA COUNTY COUNCIL.

CONVERSION under the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, section 20 of the Finance Act (No. 2), 1935, and the Matakaoa County Loans Conversion Order, 1936 (No. 2), 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, with the consent of the holder thereof, the Matakaoa County Council intends to convert all such debentures or other securities into new debentures having new maturity dates and bearing interest at 4½ per cent. per annum.

The conversion will take effect from the 1st day of October, 1936.

Consent to conversion, if given, must be made in writing on or before the 1st day of October, 1936, and when given shall be irrevocable.

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 , 1936.
, Commissioner.

(2) New Debenture.

No. .
MATAKAOA COUNTY COUNCIL, NEW ZEALAND.

New debenture, issued pursuant to Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, section 20 of the Finance Act (No. 2), 1935, and the Matakaoa County Loans Conversion Order, 1936 (No. 2). New Debenture for £ , payable at , in New Zealand, on the day of , 19 , issued by the Matakaoa County Council, New Zealand, under the above-mentioned Acts and Order pursuant to a resolution passed and confirmed by the said Council as provided by section 9 (2) of the said Local Authorities Interest Reduction and Loans Conversion Act, 1932–33.

(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 , in terms of section 10 of the Local Legislation Act, 1932–33.

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

(3) 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, section 20 of the Finance Act (No. 2), 1935, and the Matakaoa County Loans Conversion Order, 1936 (No. 2), the Matakaoa County Council hereby resolves as follows:—

That, for the purpose of providing the half-yearly instalments of principal and interest in respect of the new securities authorized to be issued by the Matakaoa County Council under the above-mentioned Acts and Order in conversion of existing securities issued in respect of the loan set out in the First Schedule to that Order, the said Matakaoa County Council 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.