The Eastern Bay of Plenty Kart Club Incorporated is asking for Club members and supporters to invest in the Club by taking out interest free debentures to help pay for the new track. Funds raised through the Debenture offer will be applied with priority to the payment of outstanding debt for the laying of the new track.
The debentures are in lots of $250 and $500 each and members and supporters are free to take up as many lots as they like. Interest free loans need to be in by the end of May as the track needs to be paid for!
Debenture Investments can be sent via cheque made out to the EBOP Kart Club Incorp. Care of the Treasurer as follows;
C/- Gayle Muggeridge
231 Otakiri Soldiers Road
Or payments can be made directly to the Club bank account;
EBOP Kart Club Incorp.
Please ensure that you include your name in the Particulars field and “DEBENTURE” in the Code field.
Once the funds have been received a Debenture Certificate will be sent to the investor and recorded on the Debenture Register held by the Club. The Rules of the Debentures are set out below.
- These debentures are unsecured.
- These debentures are interest free and no interest will be paid by the Club.
- The Club reserves the right to repay a portion of the deposits by regular ballots as funds become available.
- The Club reserves the right to terminate the Debenture at any time and repay the deposit in full.
THANK YOU FOR SUPPORTING YOUR CLUB!
C Walsh, President