Deed made 27 November 1984 between the Tauranga City Council (hereinafter called the City Council) of the first part and the Mount Maunganui Borough Council (hereinafter called the Borough Council) of the second part and the Bay of Plenty Harbour Board (hereinafter called the Board) of the third part:
Whereas the parties are joint promoters of a Local Bill to amend the Tauranga City Council and Mount Maunganui Borough Council (Tauranga Harbour Bridge) Empowering Act 1972 (hereinafter called the Act):
And whereas the parties have agreed to establish a joint committee comprising representatives from each of the parties for the construction, maintenance, management and control of the Tauranga Harbour Bridge and to share the cost of the bridge in a certain manner:
Now therefore this deed witnesseth as follows:
2 Details of allocation of costs
The Committee shall at all times keep the parties hereto fully informed of all details of the proposed works and the cost thereof and the parties hereto agree that these costs, together with the preliminary expenses including all proper expenses already incurred by the parties shall be paid or repaid as the case may be from loan moneys raised pursuant to the Empowering Act the parties accepting responsibility for such loans in the proportionate shares.
3 Charges on revenue
Revenue from the bridge operations shall be allocated in the following order of priorities:
With the consent of all the parties the above priorities may be altered or added to.
4 Promotion of legislation
The parties agree to take all such steps as may be necessary or desirable to support and promote the enactment of all legislation or other authorities which may be required to give full effect to and validate the provisions of this deed and of the said Local Bill and the various operations specified therein.
5 Deficits and surpluses
Any net deficit and any net surplus from the operations of the Committee shall be shared between the parties hereto in the proportionate shares.
6 Proportionate share shall mean
The terms of this deed may be amended from time to time by agreement between the parties hereto with the consent of the Minister of Internal Affairs.
All differences and disputes which shall arise between the parties hereto touching or concerning the premises or any act, deed, matter, or thing to be done, suffered, or remitted in pursuance hereof or touching or concerning the construction of these presents shall be referred to arbitration in accordance with the provisions of the Arbitration Act 1908 or any amendment thereto or re-enactment thereof for the time being in force. The arbitration shall be conducted by 1 arbitrator if the parties agree and if not then by 3 arbitrators 1 to be appointed by each party and the umpire appointed by such arbitrators immediately after they are themselves appointed.