SOUTH OTAGO HOSPITAL BOARD

Southland Times, Issue 24004, 20 December 1939, Page 2

SOUTH OTAGO HOSPITAL BOARD

BUILDING EXTENSION LOAN 1939. PROSPECTUS On issue by The South Otago Hospital Board of Debentures for £25,000 at 4J per cent per annum of which £12,000 is required at once. Term twenty-five years. The Loan is being raised under the authority of “The Hospitals and Charitable Institutions Act 1926” “The Local Bodies Loans Act 1926” and “The Local Government Loans Board Act 1926” and all other authorities and powers enabling it in this behalf. The South Otago Hospital Board invites applications for the purchase at par of Debentures for £25,000. The Principal will be repaid on the First day of January 1965 at the Bank of New Zealand at Balclutha or at any Branch in New Zealand of the Bank of New Zealand free of inland exchange. Interest at the rate of £4/5/- per centum per annum will be paid on the loan from the date of receipt of the purchase money by half-yearly instalments on the First day of January and the First day of July in each year. All payments of interest will be made by coupons attached to the Debentures payable free of exchange at any branch of The Bank of New Zealand in New Zealand. Exchange within New Zealand will also be paid by the Board on all accepted applications. The Debentures and coupons will be payable to bearer and are transferable by delivery. Debentures will be issued in the following denominations at the option of applicants namely—£loo each and £5OO each. A sinking fund is to be provided by the Board for the repayment of the whole of the loan at maturity. The security for the payment of the principal and interest is the General Revenue of the Board. The Board derives its revenue by levy on Clutha and Bruce Counties and the Boroughs of Balclutha, Milton and Kaitangata and from subsidies from the consolidated fund. Brokerage at the rate of 10/- per centum will be paid on all accepted applications from any member of the Stock Exchange, Licensed sharebroker, Bank, Solicitor or Financial Institution. The Board reserves the right to decline any application or to accept any application in part. Debentures will be forwarded by registered post at a later date as soon as they are executed. Application moneys are payable in full on application. Any further information will be supplied on application to the undersigned. I Chairman of the Board, willam j. McKenzie. Secretary, WILLIAM ROY, Balclutha, 15th December. 1939. Box 14, Balclutha.