New Zealand Gazette – 1941 – No. 15

Page 324

✨ Loan Conversion Order



324
THE NEW ZEALAND GAZETTE.
[No. 15

Provided that both of such rates or so much thereof as is necessary shall continue to be collected until the
whole of the new debentures to be issued on conversion are fully paid off.

(2) Subject to the provisions of this Order, the provisions of the Local Bodies’ Loans Act, 1926, and of any other Act
shall, so far as applicable and with all necessary modifications, apply with respect to such special rates, and with
respect to the interest and other charges in respect of such debentures, as if such special rates were made and levied
in respect of a special loan raised under Part I of the said Local Bodies’ Loans Act, 1926.

(3) Upon the making of such special rates every special rate theretofore made in respect of any existing debentures
to which this Order applies shall cease to be a security for such existing debentures.

SECURITIES HELD BY TRUSTEES.

  1. 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 debentures converted into new debentures 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.

PAYMENTS OF COSTS OF CONVERSION.

  1. All costs, charges, and expenses incidental to the conversion shall be borne by the local authority.

FIRST SCHEDULE.
LOANS TO BE CONVERTED.

Name. Original Amount of Loan. Amount of Loan as adjusted in Terms of Section 15 of Thames Borough Commissioner Act, 1932, and Section 3 of the Thames Harbour Board Loans Adjustment Act, 1932-33. Rate of Interest. Maturity Date.
Original. Existing.
£ £ s. d. Per Cent. Per Cent.
Sanitary Works Loan, 1924 25,000 24,650 0 0 6 4½
Sanitary Works Loan, 1925 20,000 19,999 0 0 6 4½
Sanitary Works Loan, 1926 12,000 12,163 16 0 6 4½
Sewerage Supplementary Loan, 1928 6,500 6,674 0 0 6 4½
Sanitary Works Loan, 1923 20,000 19,080 0 0 5½ 4½
Streets Improvement Loan 13,000 12,986 14 0 6 4½
Streets Improvement Loan, 1923 30,000 28,620 0 0 5½ 4½
Electric Lighting Loan, 1912 14,000 10,367 0 0 5 4½
Electric Lighting Supplementary Loan, 1913.. 1,400 1,074 0 0 5 4½
Electric Lighting Loan, 1916 5,500 4,520 0 0 5 4½
Kopu Ferry Loan, 1919 2,000 1,380 0 0 5½ 4½
Flood Special Loan, 1920 14,000 12,600 0 0 5½ 4½
Antecedent Liability Loan, 1923 12,980 11,068 0 0 6 4½
Boundaries Adjustment Loan, 1921 1,800 1,656 7 2 5½ 4½
Streets and Buildings Loan, 1923 6,500 6,303 10 0 6 4½
Streets Completion Loan, 1924 575 568 0 0 6 4½
Kopu Bridge Loan, 1925 12,000 12,000 0 0 6 4½
Quarry Loan No. 1, 1924 5,000 4,870 0 0 6 4½
Quarry Loan No. 2, 1925 5,000 5,001 0 0 6 4½
Water-race Loan, 1924 20,000 19,420 0 0 5½ 4½
Karaka Creek Loan 1,500 1,549 5 0* 4½ 4½
Karaka Channel Bridges Loan 965 996 13 7* 4½ 4½
Sewerage Loan (part) 2,000 2,078 1 8* 4½ 4½
Sewerage Loan (part) 3,000 3,117 2 6* 4½ 4½
Sewerage Loan (part) 3,000 3,118 5 0* 4½ 4½
Sewerage Loan (part) 2,000 2,079 11 8* 4½ 4½
Sewerage Loan (part) 2,000 2,080 6 8* 4½ 4½
Sewerage Loan (part) 3,000 3,120 10 0* 4½ 4½
Abattoir No. 2 Loan 355 362 5 5* 4½ 4½
Streets Improvement Loan 5,000 5,276 11 0* 6 4½
Harbour Loan No. 2, 1924 20,000 18,000 0 0 6 4½
Harbour Loan No. 3, 1925 40,000 36,666 13 4 6 4½
Harbour Loan No. 4, 1928 6,000 5,700 0 0 6 4½
316,055 299,146 13 0
  • Less principal repaid to date of conversion.

SECOND SCHEDULE.
FORMS.
(1) Notice.

Thames Borough Council.

CONVERSION under the Thames Borough Commissioner Amendment Act, 1940, and the Thames Borough Loans
Conversion Order, 1941, of debentures issued in respect of the following loans [Particulars of loans].

Notice is hereby given to the holders of debentures issued by the Thames Borough Council and the Thames Harbour
Board in respect of the above-mentioned loans that it is intended to convert all such debentures into new debentures having
new maturity dates and bearing interest at 3 per cent. per annum.

The conversion will take effect from the 1st day of April, 1941.

Every holder of debentures issued in respect of any of the aforesaid loans should forward such debentures (with
any relative coupons) to the Thames Borough Commissioner; no such holder is entitled to receive payment of interest
on the existing debentures or to receive any new debentures or any interest thereon until the present existing debentures
have been so surrendered.

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 __, 1941.

Commissioner.



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💰 Thames Borough Loans Conversion Order, 1941 (continued from previous page)

💰 Finance & Revenue
19 February 1941
Order in Council, Loans Conversion, Thames Borough, Debentures, Government House