And for the purpose of securing and providing for the repayment of the said sum of one hundred and seventy thousand dollars on the thirtieth day of September, nineteen hundred and fifty-one, and securing and providing for the interest in connection with the said loan, and a sinking fund of not less than one dollar as a further provision for the repayment of the said money, it was stated in the said notice that the said Council proposed to make and levy a special rate of twenty-five forty-eighths of a cent in the dollar on the unimproved value of all rateable property in the borough, such special rate to be an annual-recurring rate until the said loan is repaid, and to be payable in one instalment on the first day of August in each year during the currency of the loan, and also to issue debentures in accordance with the provisions of the Local Bodies Loans Acts; it was also stated in the said notice that it was proposed to pay out of the loan the cost of raising the same, and the interest on the loan for the first year: And whereas the said notice was published in the Hastings Standard newspaper—a newspaper circulating in the Borough of Hastings—on the twenty-second day of January, nineteen hundred and ten, the twenty-ninth day of January, nineteen hundred and ten, the fifth day of February, nineteen hundred and ten, and the twelfth day of February, nineteen hundred and ten: And whereas notice was given in accordance with section nine of the said Act on the twelfth day of February, nineteen hundred and ten, in the said Hastings Standard newspaper, that a meeting of ratepayers in the Borough of Hastings would be held at the Princess Theatre on the twenty-first day of February, nineteen hundred and ten, at eight o'clock in the evening, to consider the said proposal: And whereas at such last-mentioned meeting, pursuant to section ten of the said Act, a resolution was unanimously passed requesting the Chairman to cause a poll of ratepayers of the said borough to be taken upon the said proposal: And whereas, pursuant to section eleven of the said Act, the Chairman published a notice on the twenty-second day of February, nineteen hundred and ten, in the said Hastings Standard newspaper, that a poll of the ratepayers of the borough would be taken at Hastings on the second day of March, nineteen hundred and ten, upon the proposal of the Hastings Borough Council to borrow one hundred and seventy thousand dollars for the purposes hereinbefore mentioned: And whereas the said poll was duly taken on the said second day of March, nineteen hundred and ten, and at such poll the numbers of votes recorded were as follow—for the proposal, one thousand; against the proposal, sixty-two; informal, ten: And whereas notice of the result of the said poll was on the third day of March, nineteen hundred and ten, sent by the Chairman to the Minister of Finance for publication in the New Zealand Gazette, and the same was published in the said Gazette on the tenth day of March, nineteen hundred and ten; the said notice was also published in the said Hastings Standard newspaper on the third day of March, nineteen hundred and ten: And whereas a special rate to provide for the payment of interest and sinking fund upon the special loan, as provided by section seventeen of the said Act and the regulations made under the said Act, has been made and levied by special order, the resolution making and levying the said rate being passed at a special meeting of the said Council on the fourteenth day of March, nineteen hundred and ten, and being duly confirmed on the fourteenth day of April, nineteen hundred and ten: And whereas, the said loan proposal of one hundred and seventy thousand dollars having been sanctioned by the ratepayers of the Borough of Hastings as hereinbefore mentioned prior to the passing of this empowering Bill, it is desirable that it should be declared that the proceedings taken in respect thereof have been validly and effectually taken for a purpose authorized by law, and that in respect of the sum of eighty thousand dollars, being that part of the said sum of one hundred and seventy thousand dollars sanctioned as aforesaid for the supply to the Borough of Hastings of a high-pressure water-supply, electrical light and power installation, including the acquisition of all the lands and buildings which may be necessary, that the Council should be authorized to apply the same, or such part thereof as the Council thinks fit, to all or any of the purposes which the Council is authorized to carry into effect under or by virtue of this Act: And whereas the said Council is constructing drainage-works and waterworks for the said Borough of Hastings: And whereas the said Council desires to execute for owners of premises situate within the said borough who may be unable to immediately pay the cost thereof connections with the said drainage-works and waterworks, and to allow such owners to repay such cost with interest thereon by instalments: And whereas the said Council desires to borrow money for the last-mentioned purpose:
The references to “one hundred and seventy thousand dollars”
, “eighty thousand dollars”
, “one dollar”
, “sixty thousand dollars”
, “thirty thousand dollars”
and “twenty-five forty-eighths of a cent in the dollar”
were substituted, as from 10 July 1967, for references to “eighty-five thousand pounds”
, “forty thousand pounds”
, “ten shillings”
, “thirty thousand pounds”
, “fifteen thousand pounds”
and “one penny one farthing in the pound”
pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).