"Brian was a meticulous engineer who really knew his stuff. He chose to work with Triumphs because many of the parts are still able to be bought. The bikes started off as 750cc, but are bored out to just over 900cc," Paul said.
Munro was 68 when he finally broke the record on his then 47-year-old 950cc Indian, while Paul will be knocking 44 when he attempts to better the speed in August next year on a 54-year-old Triumph.
"It's the same meeting Burt Munro set the record. We will have one of Brian's bikes attempting the record and the other to race for fun in another class," Paul said.
Until this opportunity came along Paul was on a self-imposed sabbatical from racing after suffering numerous knocks to the head over years on the track.
"It had been giving me a few problems so I decided to take a break, but this is far too good an opportunity to miss."
In 1967, Munro set a class record of 295.453 km/h (183.586 mph). To qualify he made a one-way run of 305.89 km/h (190.07 mph), the fastest-ever officially-recorded speed on an Indian. The unofficial speed record (officially timed) is 331 km/h (205.67 mph) for a flying mile.
Paul is aiming to reach 210mph (337.96 km/h) on Smith's Triumph.
"There's been a few knockers who don't want to see Burt Munro's record broken, but there's been many try in the last 45 years. If it's going to be broken we want it to be another Kiwi and that's what Tim Shadbolt reckons too - he's a great supporter of our attempt," Paul said.
Shadbolt, of course, is Mayor of Munro's hometown, Invercargill.
Both Smith-built bikes will be on display during the Boxing Day meeting on the Cemetery Circuit.