LOANS CONVERSIONS

Waipa Post, Volume 49, Issue 3506, 16 August 1934, Page 5

LOANS CONVERSIONS

BOROUGH COUNCIL AND POWER BOARD.

AGGREGATE OF OYER £300,000,

A special issue of the Gazette dated Friday last bui only available in Te Awamutu yesterday, contains notification of loans conversion laifecting 're awamutu Borough Council and Te Awamutu Electric Power Board. The borough loans to be converted are:— Saleyards extension and improvement, loan, 1927, £3OOO at 53 per cent, (subsequently reduced to 4 2-sth per cent) maturing on November 11th, 1943; antecedent liability loan of £3500 at 6 per cent., (reduced to 4 4-sth. percent.) maturing on September Ist, 1959; sewerage loan, 1925, of £3OOO, at 6 per cent, (reduced to 4 4-sth percent.), maturing on adjustment loan, 1928, of £9OO at 6 per cent, (reduced to 4 4-sth per cent.), maturing on September Ist, 1948; fire prevention loan, of £ISOO at 6 per cent, (reduced to 4 4-sth per cent.), maturing on September Ist, 1960; ami parts of three streets loans of £25,0001, £15,000 and £4OOO, all at 53 per cent, (reduced to 4 3-sth percent.), maturing respectively on March Ist. 1961, July Ist, 1963 and June 20tihi, 1964. In the cases of the loans of £ISOO, £15,000 and £4OOO they are less repayments of principal' up to date of conversion.

Another schedule deals with the following loans, each of wh'ch was la sed ai; 43 per cent, (subsequently reduced to 43 per cent.), and having expi,ry dates ranging from January 31st, 1950, to July 31st, I96o:—(Watersupply land streets construction loans (part), £2OOO, £12,000, £6OOO and £2000; No. 1 streets construction and metalling loans (part), £935, £IOOO, £IOOO, and £2000; No. 1 Alexandria Street formation and metalling loans (part), £IOOO, £2OOO and £1000; No. 2 streets loan (part), £IOOO, £IOOO and £1000; No. 1 Alexandra Street formation and metalling loan (part) £500 : ; sewerage loan (part) £3000; No. 2 streets loan (part) £2*000; sewerage loans- (part), £4OOO, £3OOO, and £2000; No. 2 streets loan (part) £500; sewerage loans (pa,rt), £3OOO, £2OOO, £3OOO and £2()00. In each of the loans in this group the sum 's less amount of principal repaid up to date of conversion.

The total amount for the first group is £55,900, and for the second £72,935; aggregate £128,835. ;In the case of the Te A.wamutu Electric Power Board loans totalling £IBO,OOO la,re dealt with. They compose: £25,000 at 53 per cent, (reduced to 43 per cent.), maturing on February Ist 1957; £15,000 loan at per cent, (reduced to 4 2-sth per cent.), maturing- December Ist, 1957; £BOOO at G per cent, (reduced to 4 3-sth per cent.), maturing January Ist, 1958; £BOOO at G per cent, (reduced to 4 4-sth per cent.), maturing August Ist, 1942; £4OOO at 6 per cent, (reduced to 4 4.5 th per cent.), maturing December Ist, 1943; £IO,OOO at 6 percent. (reduced to 4 4-sth per cent.), maturing Miay Ist, 1958; £12,000 at 6 per cent, (reduced to 4 4-sth percent.), maturing August Ist. 1942; £3OOO at 53 per cent, (reduced to 4 3-sth per cent.), majtur'ng September Ist, 1G162; £BOOO «r,t 53 per cent, (reduced to 4 3-sth per cent.), maturing March Ist, 19G2; £02,000 at 53 p>~r cent, (reduced to 4 3-sth per cent.), maturing June 20th, 1963; £3OOO at 53 per cent, (reduced to 4 4-5 per cent.), maturing June 20th, 1963; £6OOO at 53 per cent, ((reduced to 4 3-sth per cent.), maturing January Ist, 1964; £SOOO at 53 per cent, (reduced to 4 3-sth per cent.), maturing March 15th., 1965; and £IIOOO ,ait 53 per cent, (reduced to 43 per cent.), maturing July Ist, 1964.