DEBENTURE TRUST DEED PURPOSE OF REPORT ...

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Delegation Page 4 of 83 Appendix 1 – Fin-13-825 Fin-12-593 21 Only Council has authority to change the security structure for Council debt. Consultation 22 The change to the security structure for Council’s borrowing was consulted on as part of the draft Long Term Plan. Policy Implications 23 The necessary changes to the Treasury Management Policy are included in the Final Long Term Plan. Tāngata Whenua Considerations 24 There are no Tāngata Whenua considerations. Publicity Considerations 25 There are no publicity considerations. RECOMMENDATIONS 26 That the Council notes that the Council’s Treasury Management Policy in the final Long Term Plan allows for the security structure for Council loans to be a Debenture Trust Deed. 27 That the Council approve the form of Debenture Trust Deed attached as Appendix 1 to Report Fin-12-497 as the security structure for Council loans to replace the current Debenture structure (subject to any further changes being negotiated by the Chief Executive and Group Manager Finance) 28 That the Council authorise the Chief Executive and Group Manager Finance to negotiate with the Council's security agent, current security holders and incoming trustee to transfer to a Debenture Trust Deed security structure, and to make any necessary changes to the attached Debenture Trust Deed that result from these negotiations. 29 That the Council authorise the Chief Executive, Mayor and the Chairperson of the Corporate Business Committee to execute a Debenture Trust Deed and the Security Replacement Deed(s). 30 That the Council authorise the Chief Executive and Group Manager Finance to give one or more certificates including for the purposes of Section 118 of the Local Government Act 2002 in respect of the Debenture Trust Deed and the Security Replacement Deed(s).
Appendix 1 – Fin-13-825 Fin-12-593 31 That the Council authorise the Chief Executive and Group Manager Finance to provide Stock Issuance Certificates and Security Stock Certificates in relation to Council’s borrowing as required in accordance with Council’s Long Term Plans and Annual Plans. Report prepared by: Warwick Read Group Manager Finance Appendix 1 – Debenture Trust Deed Page 5 of 83
Page 1 and 2: Mayor and Councillors COUNCIL DEBEN
Page 3: Appendix 1 - Fin-13-825 Fin-12-593
Page 7 and 8: TABLE OF CONTENTS Appendix 1 Fin-13
Page 9 and 10: Debenture Trust Deed 2 Definitions:
Page 11 and 12: Debenture Trust Deed 4 "Paying Agen
Page 13 and 14: Debenture Trust Deed 6 "Transitiona
Page 15 and 16: Debenture Trust Deed 8 as regards t
Page 17 and 18: Debenture Trust Deed 10 Advice to T
Page 19 and 20: Debenture Trust Deed 12 Validity: N
Page 21 and 22: Debenture Trust Deed 14 REGISTER OF
Page 23 and 24: Debenture Trust Deed 16 INDEMNITY B
Page 25 and 26: Debenture Trust Deed 18 BEARER STOC
Page 27 and 28: Debenture Trust Deed 20 person in a
Page 29 and 30: Debenture Trust Deed 22 except that
Page 31 and 32: Debenture Trust Deed 24 date of suc
Page 33 and 34: Debenture Trust Deed 26 distinguish
Page 35 and 36: Debenture Trust Deed 28 of any prov
Page 37 and 38: Debenture Trust Deed 30 of this Dee
Page 39 and 40: Debenture Trust Deed 32 satisfied t
Page 41 and 42: Debenture Trust Deed 34 becoming en
Page 43 and 44: Debenture Trust Deed 36 Essential S
Page 45 and 46: Debenture Trust Deed 38 Application
Page 47 and 48: Debenture Trust Deed 40 Priority Am
Page 49 and 50: Debenture Trust Deed 42 ALTERATIONS
Page 51 and 52: Debenture Trust Deed 44 the Council
Page 53 and 54: Debenture Trust Deed 46 SIGNED for
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Stock Certificate No: [ ] FIRST SCH
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Stock Certificate No: [ ] FIRST SCH
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- v - Debenture Trust Deed Page v (
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espect of advances and in respect o
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CONDITIONS 1. SUBJECT as herein pro
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FIRST SCHEDULE PART IV FURTHER COND
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SECOND SCHEDULE MEETINGS OF STOCKHO
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