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Waipa Post, Volume 32, Issue 1929, 2 November 1926, Page 1

Public Notices. TE AWAMUTU ELECTRIC BOAED. SPECIAL ORDER. PURSUANT 'to the .provisions of the Electric Power Boards Act, 1826, public notice is hereby given that, at a Special Meeiting of the Te Awamutu Electric Power Board, called for the purpose and held at the Board's office, Mutu Street, Tfe Awamutu, on -the 22nd day of October, 1926, Ithe followling Resolution 'was duly passed. The Resolution is a& follows:- — The Te Awamutu Electric Power Board (hereinafter called "the said Board"), 'in pursuance and > "* exercise of the powers conferred by the local Bodlies' Loans Act. 1926 f and of all otheir powers (M any) it in that .bieihalf enabling, hereby resolves by way of Special Order as foMowls, namely: (1) To call in and .convelrt (the ohitis|danding loan known as " The Te Awamutu Electric Power Boarti Loan (1921) of i£6i2,000:" (hereinafter caCTed "'the outstanding loan") raised by the said Board in pursuance and exercisei of the powers conferred iby the Local Bodies' Loans Act, 1913. (2) 1 That, 'for the purposes of such .conversion, the said Board issue deben!ture s for this, sum of £62,000, having a currency of 3611 years, and bearing interest at the rate of £5 0s Od per cenltum. 'peir annum, such debentures and !che interest thereon being payable at the .principal banking house of the Baink of 'New Zealand in Bydney, New Stoulth Wales. Su'ch debentures shall be issued in respect of a conversion loan to he 'called "The Te Awamutu Electric Power Board Conversion Loan (1926) of £62,000"; shall be sealed with tte Common 'Seal of the ©aid Boartfl, and signed •by the Chairman of the said Board and cOun|tersigne»di by the Secretary to the said Board. (3) That such debentures shall be disposed of in exchange for !tbo debentures reprieiseniMng. flue outstanding loan, and that such lastmentioned debentures shall be cancelled anidl destroyed. (4) That the sum of £3OOO shall be paid by way of premium or compensation in respect of such conversion, and that the said sum .shall be paid in caslh. (5) That the said sum of £3OOO and all costs of issuing such conversion debentures and all charges incidental ito the conversion of the outstanding loan and other operations connected therewith shall- be paid out of ithe Sinking Fund ; established in connection with the outs'tandin'giSloln and *tonhe extenlt to which such Sinking-Fund is insufficient out of the local fund of the said Board; (6) Th t. a Sinking Fund of -an annual sum of £1 per centum per annum on the amount of the said conversion loan of £62,000 i s her«hy eistablished. (7)' That itihe annual! recurring speO'ia'l 'rate of thirteen - sixteenths of one penny in thlsi pound sterling upon the ratable value (on the basis of the capiltal value) of all ratable property in the Te Awamutu, Electric Power District, made as securlity for the: ou|ts'tanding loan, shall be the security for the said conversion loan and debentures, and the interest thereon during the currency thereof and until the saTdl loan and debentures have been fully paid off; and the said special rate is hereby appropriated and pledged by the said !Boa,rd as security for the purpose of securing repayment of the said sum of £152,000 and the debentures to be isslujed in respect thereof and • the interest theireon and in order feo provide funds for ( the creation of the Sinking Fund aforesaid. (Sy That the Common Slea'l of the said Board be affixed to all deeds •and documents ■ necessary for carrying out the aforesaid* resolu-' "tion. (9) That copies of this resolution and all other resolutions and documents relating to the aforesaid matiters, verified by the Chairman and 'Secretary as 'correct extracts from the Minutes of Proceedings of the said ißoard, may from time to time be sealedi with the said Common Seal as evidence of the same, and issued. AND I HEREBY give fu.rlt.her noltlice that the 'foregoing Resolution'will be submitted for conifirmation as a Special Order to an Ordinary Meeting of the said 'Board, to he held at the ißoardfs office, IMutu Street. 'Te Awamutu, at 11 i:m. on FRIDAY, Ithe 191 th day of November, 1926. D. McAIRTeUR, 560 Secretary-Manager.

F C D ANIBLL > ARCHITECT, HAMILTON. Te Awamutu Representative: MR C. BOWDEN, Assistant County Clerk, Te Awamutu. Telephone No. 12.