From: C Gilmore
3 December 2024

Dear Department of Internal Affairs

Official Information Request

The LGFA website clearly states:

"A council’s obligation under the guarantee is secured against rates
revenue.”

and yet on the same website, the Amendment and Restatement Deed (Guarantee and Indemnity )Document page 36 states :

"security" includes a guarantee or indemnity, a security interest (as construed and defined in the Personal Property Securities Act 1999), mortgage, lien, pledge, any interest in land of a security nature, any other security arrangement creating in effect security for the payment of a monetary obligation or the observance of any other obligation, and any other arrangement having like economic effect over any property, assets or revenues.

Should the “security’ as per the Deed not read “rates revenue”, and no more than that?

Yours faithfully,

C Gilmore