WHEREAS by a deed of conveyance bearing date the twenty-third day of January, eighteen hundred and fifty-seven, registered in the Deeds Registry Office at Nelson, Volume 2D, No 647, and made between Edward Fearon, of Motueka, gentleman, of the one part, and Charles Parker, Richard Sutcliffe, Thomas Poole, James Robinson (all therein described), and the said Edward Fearon, of the other part (hereinafter termed the trustees), all that piece or parcel of land situate in the Borough of Motueka containing one-quarter of an acre and being part of Section 155 on the public map of the Motueka Survey District was conveyed to the trustees upon trust for a site for an institution to be called the Motueka Literary Institute, for the purposes of a public library and reading-room for the use of the community of Motueka and for encouraging and promoting mutual instruction and the general cultivation of literature and science by and among the said community: And whereas Edmund Parker, of Motueka, farmer, Frederick Walter Huffam and Gerard Scudamore Huffam, both of the same place, mechanics, Samuel Biggar Canavan, of the same place, storeman, and Albert Isaac Manoy, of the same place, merchant (hereinafter termed the present trustee), are the present trustees of the aforesaid trust: And whereas they have accumulated a fund of one thousand five hundred and twenty-seven dollars and fifty-seven and a half cents out of revenue derived from the said trust lands from which there is payable on presentation the aggregate amount owing on outstanding bearer debentures issued by the trustees estimated at approximately two hundred and ten dollars: And whereas the present trustees are desirous of retiring from and of being discharged and released from the said trusts and of handing over the said lands and the said fund to the Motueka Borough Council (hereinafter referred to as the Council) to be held and applied as hereinafter set out for the purposes of a public library to be erected by the said Council on certain perpetual leasehold lands situate in High Street, Motueka, and comprising part of Section 162, Block IV, Motueka Native Reserves:
“one thousand five hundred and twenty-seven dollars and fifty-seven and a half cents” and
“two hundred and ten dollars” were substituted, as from 10 July 1967, for the words
“seven hundred and sixty-three pounds fifteen shillings and ninepence” and
“one hundred and five pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).